The Cambodian resort city of Siem Reap could become home to a new US$70m (€61.6m, £53.5m) aquarium and wildlife sanctuary, following a meeting between potential investors and the city’s governor.

Angkor Wildlife and Aquarium is a joint venture of Cambodian, Japanese and US investors. It's proposing to put together a project comprising freshwater and saltwater fish displays and a wildlife sanctuary on a 100-hectare site in Sout Nikom district.

In a report in the Khmer Times newspaper, Roger Reynolds, a member of the board of directors of Angkor Wildlife and Aquarium, commented that the project would provide employment for "many local people". He said that the development would be completed in three phases, the first of which would cost US$20m (€17.6m, £15.3m) and could start in March, with the aquarium operational by the end of 2020.

"Besides helping to develop the national economy, the project will educate local and international visitors about the environment and the conservation of natural resources by introducing guests to rare aquatic species so that they can see and understand the natural resources of the country," said Reynolds.

In the same media report, Siem Reap governor Tea Seiha outlined some of the challenges that still remain, saying: "The company must now co-operate with relevant departments and authorities to move forward. It must review the location of the project to avoid delays in construction in the future and it must ensure it adheres to the law."