Cambodia is changing rapidly.
The country welcomes foreign investors and that in turn, attracts more foreigners that make the Kingdom their home.
That influx of business people and digital nomads, gives Cambodia a much needed boost. It brings money in, it creates new jobs and very soon – it may change the capital city a lot more than that.
Limestone Network, a Singapore-based startup, recently announced its plans to build a smart city in the heart of Phnom Penh. The project would include office buildings, residential homes, schools, shops, shopping malls and a huge convention centre.
The entire project is expected to cover an area of 100 hectares and attract as many as 10,000 businesses and nearly 200,000 people.
The smart city will be powered by blockchain technology and each resident will be provided a “digital passport” – an app, which will allow access to the city’s buildings. It will also let holders make digital purchases and offer access to many additional features.
According to experts, Phnom Penh has a great potential as a smart city. Sensors placed around the project site could help with resolving many of the current problems, like traffic congestion, safety and accessibility.
Cambodia isn’t the only country in Limestone Network’s sights. They are already planning their next projects all around Southeast Asia. Philippines, Singapore and Malaysia are all on the list.
This is yet another confirmation that Cambodia is now the perfect country to invest in. Not many places around the world have so much untapped potential and are actually doing something about it.
If you’d like to learn how you could benefit from the changes that Cambodia undergoes – contact us today!