Cambodia, World Bank Discusses Strategy to Reduce Logistics Costs in Cambodia

The Ministry of Economic and Finance and the World Bank discussed developing strategies to reduce logistics costs and create a more efficient transportation and logistics system in Cambodia.

The discussion took place in a meeting between HE Vongsey Visoth, Minister Delegate to the Prime Minister and Secretary of State for the Ministry of Economy and Finance, and Cordula Rastogi, World Bank’s Senior Economist of the WB, on June 6, 2022.

In the meeting, HE Vongsey Visoth said that the logistics sector is a priority and a key area for promoting trade and investment as well as general development for Cambodia, citing that Cambodia’s economy will not be able to grow in the long run if Cambodia does not have an efficient logistics system.

Through structural reforms to reduce logistics costs and develop a more efficient transport and logistics system, it is to attract investments that would relocate from China to accelerate economic base diversification in the short, medium and long term.

In the meeting, the two parties agreed to continue to study in-depth a number of other points to make the important strategic document become an agenda of the government’s sharp reforms to promote the attractiveness of external investments and businesses.

- Video Advertisement -

Related Post

Thailand Looks to Revamp Real Estate Laws with Cambodia’s Leasehold Model in Focus

Thailand is revising its real estate laws to attract foreign investment, proposing significant amendments to extend lease terms from the current maximum of 30 years to up to 99 years. This initiative, championed by Finance Minister Pichai Chunhavajira, is aimed at revitalizing the country’s sluggish economic growth and addressing rising household debt. The proposed changes, […]

Cambodia Enforces Nationwide Closure of Illegal Border Crossings to Combat Transnational Crimes

The Cambodian Ministry of Interior has ordered the immediate closure of all illegal border crossing points across the nation, implementing stringent measures to enhance border security and address cross-border crimes. Effective from 13 November 2024, the directive mandates provincial governors in border regions to enforce these measures, with accountability measures in place to ensure compliance. […]

China Construction America Ordered to Pay US$1.6 Billion and Conflict of Political Interests Behind

A New York court has ordered China Construction America Inc. (CCA), a subsidiary of Chinese state-owned China State Construction Engineering, to pay US$1.6 billion to BML Properties, the original owner of the Baha Mar casino resort in the Bahamas, after the contractor was found to have committed “many acts of fraud” during its takeover of […]

Cambodia Launches National Committee to Oversee Forest Protection Land Grant Program

In a landmark effort to promote sustainable development, His Majesty King Norodom Sihamoni has signed a Royal Decree (No. នស/រកត/១១២៤/១៤​១​២) to establish a National Committee tasked with implementing the Forest Protection Land Grant Program. This initiative aims to provide social land concessions to homeless individuals and impoverished families for housing and agriculture while safeguarding forests […]

Three Cambodian Institutions Shine in Energy Efficiency Awards for Commercial Buildings

In a landmark event celebrating energy efficiency, three Cambodian institutions emerged as winners at the Cambodian Energy Efficiency Competition (CEE Comp) awards, hosted by the Ministry of Environment in partnership with Sevea Co., Ltd. on November 4, 2024. Ecole Paul Dubrule Tourism School in Siem Reap took the top prize, with the Lotus Green Team […]

Mondulkiri Authorities Launch Extensive Crackdown on Illegal Mining with 56 Sites Targeted

In an intensive crackdown spanning just three days, from 3 to 5 November 2024, the Mondulkiri Provincial Department of Mines and Energy, together with other local authorities, successfully intervened at 56 locations identified for illegal mining operations across Mondulkiri province. This major operation underscores Cambodia’s growing commitment to regulate mining activities and protect its natural […]