Cambodia and China Forge Strategic Alliances in 10 Key Sectors to Accelerate Development

• 26 October 2023
• Local News
• 1428 Views

In a groundbreaking move, the Cambodian Government and the People’s Republic of China have inked ten Memoranda of Understanding (MoUs) to propel progress in critical sectors encompassing energy, rural development, and temple restoration. These momentous agreements were formalized during the attendance of Prime Minister Samdech Hun Manet at the illustrious “Third Belt and Road Forum” in Beijing.

The comprehensive Memoranda of Understanding and Agreements, born from a shared vision of strategic cooperation, signify an extraordinary boost to Cambodia’s development ambitions. Here’s an insight into these pivotal accords:

1. Joint Promotion of Cambodia-China Production Capacity and Investment Cooperation: This MoU sets the foundation for robust collaboration, driving the third key project for production capacity and investment.
2. Establishment of a Working Mechanism for Bilateral Cooperation: An accord aimed at implementing the Bilateral Cooperation Plan for constructing the 21st Century Silk Road and Silk Road Economic Belt.
3. Investment Cooperation in Green and Low Carbon Development: A visionary step towards fostering sustainability and environmental responsibility.
4. Concessional Loan Agreement for Rural Power Transmission: A crucial financial agreement facilitating the eighth phase of rural power transmission development.
5. Feasibility Study for Preah Vihear Temple Rehabilitation: An essential exchange of letters to initiate the much-anticipated restoration of the revered Preah Vihear Temple.
6. Feasibility Study on Phase 3 Rural Road Project: A significant milestone in the grant-funded rural road development in Cambodia through collaboration with China.
7. Cambodia-China Railway Cooperation Mechanism: An essential MoU laying the groundwork for joint cooperation in the construction and development of the Cambodia-China Railway.
8. China-Cambodia Industrial Park: A visionary MoU between the Ministry of Commerce of Cambodia and the Guangxi Zhuang Autonomous Region Authority, propelling the development of the China-Cambodia Industrial Park.
9. Development of Tatai Leu Hydropower Pump: An MoU destined to revolutionize Cambodia’s energy sector with the development of Tatai Leu Hydropower Pump.
10. Strengthening Cooperation on the Digital Revolution: A forward-thinking MoU solidifying bilateral efforts in embracing the digital revolution.

Prime Minister Samdech Hun Manet, while signing these crucial agreements, expressed his optimism about the transformative potential of these partnerships. These accords will not only invigorate Cambodia’s economic and infrastructural development but also promote greater collaboration on an international scale. They stand as a testament to Cambodia’s commitment to progress and mutual prosperity.

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