H.E Sun Chanthol: No Cut Off in Infrastructure Aid

H.E Sun Chanthol has cast aside rumoursthat Japan, as well as other development partners, plan to cut off assistance for Cambodia’s infrastructure.

In response to journalists on 23 July, 2018, H.E Sun Chanthol, Senior Minister and Minister of Public Works and Transport (MPWT), said “there is no cut off of aid from any country on the construction of infrastructure in the country.”

Development partners such as Japan, the Asian Development Bank (ADB) and the World Bank continue to cooperate with Cambodia.

Indeed, Japan has been actively involved in infrastructure projects in Cambodia, including the plans to expand National Road No.5, construct a new deep sea port in Sihanoukville using a loan of more than US$200 million, as well as constructing Cambodia’s first ever sky train which is currently undergoing a feasibility study by the Japan International Cooperation Agency (JICA). (Read more)

Regarding development assistance from the Asian Development Bank, H.E Sun Chanthol said there was no delay in any plans or any intention to cut off aid. In fact, the Asian Development Bank plans to set up a sewerage system in Sihanoukville Province next year, he added.

Japan is one of Cambodia’s main development partners, especially in the infrastructure sector. In 2016, Japan ranked fourth on foreign direct investment (FDI) in Cambodia.

- Video Advertisement -

Related Post

Thai office space vacancy rate rises 26.3%, Yet Thailand’s richest billionaire optimistic about market demand growth

Bangkok’s office vacancy rate in prime Grade A buildings has soared to 26.3%, reflecting a growing oversupply, but Frasers Property Limited, led by Thailand’s wealthiest scion, is betting on the US-China trade feud to drive demand for office and industrial spaces across Southeast Asia, according to bangkokpost on 19 September 2024. With a US$3.6 billion […]

Thailand’s USD 6.5 Billion EV Industry Set to Power Commercial Real Estate Growth

Thailand’s fast-growing electric vehicle (EV) industry is projected to generate a real estate market worth at least USD 6.5 billion by 2030, driven by government policies and strong foreign investments. As the country aims to solidify its position as Southeast Asia’s leading hub for EV manufacturing, this growth will fuel demand for specialised real estate […]

Cambodia Maintains the World’s Highest Central Bank Interest Rates, Defying Global Trends

In the third quarter of 2024, Cambodia continues to lead global markets, with central bank interest rates soaring between 10% and 12%, starkly contrasting with the 0% to 6% range maintained by most major economies. This divergence, detailed in a report by CBRE Cambodia published on 17 October 2024, spans from December 2021 to December […]

Cambodia’s Construction Investments Struggle to Recover as 2024 Sees Significant Drop

Cambodia’s construction sector continues to face a challenging period, with approved investment projects in 2024 falling to about 2,190, valued at under USD 4 billion, a stark contrast to the nearly 4,841 projects worth approximately USD 12 billion in 2020. The latest report from the Ministry of Land Management and Urban Planning, presented by CBRE […]

Cambodia’s Tourism Rebounds to Near Pre-Crisis Levels, But Chinese Arrivals Lag Behind Regional Peers

Cambodia’s tourism sector is witnessing a robust rebound in 2024, with international arrivals reaching 4.4 million in the first eight months, a 22.5% surge compared to the same period last year. This strong performance brings the country within 1.6% of its pre-crisis peak of 6.9 million visitors in 2019, highlighting the sector’s steady recovery after […]

PwC Slapped with Record USD 62.2m Fine and Six-Month Ban Over Evergrande Audit Failures

PwC Zhong Tian, the China arm of the global accounting giant, has been fined a record USD 62.2 million and banned from auditing for six months for its failure to identify financial misstatements in China Evergrande Group’s accounts between 2018 and 2020. The penalties, the most severe imposed on an audit firm in China, are […]