Gov’t allocates more than half US$14.4 billion budget for infrastructure development

• 2 September 2019
• Local News
• 6899 Views

The Council of Ministers on 30 August approved the US$14.4 billion budget plan for a public investment programme with the infrastructure sector receiving more than 50% of it over a period of three years.

The budget plan, which was proposed by the Ministry of Planning will expand over 609 public investment projects in various sectors between 2020-2022. (Read more)

Following the meeting, the Council of Ministers, via a 4-page press release, said that the budget allocates 53.8% for the infrastructure sector (about US$7.7 billion), 32.7% for the economic sector (about US$4.7 billion), 7% on services and inter-sectorial programmes (about US$1 billion), and 6.5% for the social sector (about US$936 million).

Among the 609 projects, 171 projects are ongoing while the other 438 are part of the National Strategic Development Plan of 2019-2023, according to the press release.

The budget came as Cambodia is in need of more infrastructure investment toward building airports, bridges, dams, roads and seaports. Through this budget allocation, the future of infrastructure developments is parallel with the booming construction industry. In recent years, China has channelled funding to a wide range of infrastructure projects in Cambodia, from highway networks, to railways and ports. (Read more)

Indeed, Cambodia has recently begun constructing the country’s first express way linking the capital to Sihanoukville using around US$2 billion investment by China Road and Bridge Corporation (CRBC) while earlier in the year the country announced plans to invest in six airport projects worth more than US$2 billion. (Read more)

In addition, as of 2018, a total of more than 16,000 kilometres of national and provincial roads have been restored and rebuilt. (Read more)