Mong Reththy Group and Yamamoto Rock Products Co Ltd signed an agreement on Monday to build a car racing circuit in Kampong Speu province, with the official launch of the track expected towards the middle of the year.
The circuit will cover 22.68 hectares of land in Kampong Speu’s Samrougtorng district, making it one of the biggest of its kind in the world, according to Mong Reththy Group.
“The new circuit will be a bridge connecting Cambodian and Japanese people, as well as many other people around the world who love car racing,” he said.
Mr Reththy did not disclose the investment for the project.
Thourn Sinan, chairman of the Cambodia Chapter of the Pacific Asia Travel Association, said the project will bolster the local sports tourism sector.
“Despite the fact that the ministry has started to promote this type of tourism in recent years, we are still lacking products, so this investment is most welcomed.
“The Cambodia-Japan circuit is the first project of its kind in Cambodia and I believe the sport has the potential to boost tourism.”
Chrek Soknim, CEO of Century 21 Mekong, said Chbar Mon city has experienced gradual economic growth, adding that there are now a number of interesting projects for factories and amusement parks.
“Japanese investors are very careful. They conduct proper market research before making a decision, so their projects never fail,” he said.