SIHANOUKVILLE, CAMBODIA  - 13 May 2024 - In a historic move, Canopy Sands Development (CSD) and AIM Global Foundation have signed a Memorandum of Understanding (MOU) today to jointly develop an international convention and exhibition center in the Bay of Lights, Sihanoukville, Cambodia.

The announcement was made during the prestigious 2024 AIM Congress held in Abu Dhabi, UAE, marking a significant milestone in the global events industry. The collaboration will unite both entities' strengths in transforming an 11-hectare land site into a world-class venue that will elevate Cambodia's status as a key destination for international events and exhibitions.

AIM Congress is one of world's leading investment platform focusing on FDI opportunities, future cities, SMEs, startups and unicorns, and digital economy. They have hosted over 12,000 delegates across 175 countries, partnering more than 300 exhibitors to drive economic growth and international ties.

Dawood Al Shezawi, President of AIM Global Foundation, emphasized the significance of the partnership in fostering global collaboration and investment. "This partnership aligns perfectly with our mission to empower the world's investment by facilitating opportunities for productivity and expansion. Together with Canopy Sands Development, we are confident that the international convention and exhibition center will become a catalyst for growth and prosperity in Sihanoukville and beyond."

The partnership spans across various facets including feasibility studies, design, financing, construction, and management, ensuring a seamless blend of CSD's local insights and AIM Global Foundation's international expertise. The project aims not only to bolster local and national economic growth through tourism and job creation but also to position Cambodia firmly on the map as an influential player in the global events industry.

"The newly-signed MOU lays the groundwork for a strategic alliance that promises to harness the collective expertise and networks of AIM Global Foundation and CSD," said David Richard, Head of Division for Hospitality and Tourism at Canopy Sands Development. "Beyond building a venue; it's about creating a platform for cultural exchange, international collaboration, and showcasing the global economic possibilities that Cambodia has to offer," he added.

This MOU follows a strategic partnership agreement inked with AIM Congress in March this year, allowing AIM Congress Asia to call the Bay of Lights its home, further amplifying Cambodia's appeal as a vibrant locale for discovering unparalleled investment opportunities.

The development of the international convention and exhibition center is poised to significantly impact both the local community in Sihanoukville and the international business ecosystem at large.

Bay of Lights

Bay of Lights is a pioneering development reshaping the skyline of Sihanoukville, Cambodia. With an investment of USD 16 billion, this sprawling 934-hectare beachfront project has been meticulously master-planned to feature nine distinctive districts, each supporting the initiative's six core pillars: Financial Services, Tourism, Education, Entertainment & Lifestyle, Health & Wellness, as well as Art & Culture. Driven by a vision to create a world-class financial and tourism hub. Bay of Lights strategic design encourages a sense of connectivity between diverse sectors, stimulating economic growth and fostering an inclusive, vibrant culture

Canopy Sands Development

Canopy Sands Development is a pioneering real estate development company, established in 2019 and headquartered in Phnom Penh, Cambodia. Led by a dynamic team of highly experienced professionals, both local and international, Canopy Sands Development is committed to laying the foundations that catalyze economic opportunities. With each project, it aims to create a significant economic, social, and educational impact, delivering sustainable and lasting benefits to Cambodian communities.

AIM Global Foundation

AIM Global Foundation is an independent international organization committed to empowering the world's investment by boosting effective promotion strategies and facilitating opportunities for investment productivity and expansion. The foundation fosters collaborative partnerships across sectors to drive positive social, environmental, and economic impacts on a global scale.

The issuer is solely responsible for the content of this announcement.

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