IFC backs two private firms to establish smart logistics hub in Cambodia

The International Finance Corporation (IFC) has backed two of the region’s leading logistics companies –WorldBridge Group and YCH Group – to establish a world-class logistics complex in Cambodia.

The agreement was signed in February in Singapore by IFC, WorldBridge, and YCH Group, according to a press release.

The Cambodia SuperPortTM or the Phnom Penh Logistics Complex (PPLC) will be developed by PPLC Support and Industrial Co. Ltd., a joint venture between Asia’s leading logistics conglomerate, YCH Group, and Cambodia’s largest logistics provider, WorldBridge Group.

Located in Phnom Penh,  the centre will be the Kingdom’s economic hub with connections to all modes of transportation, aiming to become the country’s first fully-multimodal logistics facility.

As Cambodia is located in the centre of the Greater Mekong sub-region, the SuperPortTM could serve as a regional transport and logistics hub, contributing to a shift in trade routes through Cambodia. This will help reduce overall logistics costs, improve supply chain efficiency, and boost Cambodia’s competitiveness.

“We are elated that IFC has chosen to support the Cambodia SuperPortTM. This facility will be a key contributor to the growth of Cambodia by providing the facilities for the next generation of manufacturing in the Kingdom,” said Neak Okhna Rithy Sear, Chairman of WorldBridge Group.

“With YCH Group leading the project, we are confident that the capabilities of Cambodia SuperPortTM as a logistics value-added manufacturing hub will elevate Cambodia’s standing in the region and will be a major contributor to the economy of the Kingdom,” he added.

Logistics is a crucial sector for Cambodia to achieve its target of being an upper middle-income country by 2030 and a high-income country by 2050. As the government of Cambodia is developing a master plan for Multi-modal Transport and Logistics Connectivity, the project will support the government in realizing its vision to be a regional logistics hub and enhance the country’s logistics and supply chain connectivity.

Previously, Singapore intended to invest more in three major high-potential sectors in Cambodia, including trade, cold chain, and logistics. (Read more)

- Video Advertisement -

Related Post

Cambodia Inaugurates New National Assembly Administration Building with Vietnamese Support

Cambodia has officially inaugurated a state-of-the-art National Assembly administration building, thanks to a generous aid package of $25 million from Vietnam. The inauguration ceremony took place on November 21, 2024, with prominent figures in attendance, including Samdech Khuon Sodary, President of the National Assembly, and His Excellency Tran Thanh Man, President of the National Assembly […]

Brunei’s Khazanah Nasional Targets Multi-Sector Infrastructure Investment in Cambodia

Khazanah Nasional Berhad, a leading investment firm from Brunei Darussalam, has announced plans to explore infrastructure investment opportunities in Cambodia, focusing on health, water resources, transport infrastructure (including railways and airports), and banking. This initiative was discussed during a meeting between PM Hun Manet and Khazanah’s CEO, Mr. Dato Khairul Hamed, on 19 November 2024. […]

Japan Invests Over USD40 Million in Cambodia, Enhancing Economic Partnerships in 2024

Japan has invested over USD40 million in Cambodia during the first ten months of 2024, reaffirming its position as the seventh-largest investor in the country. This development was highlighted in a report by the Council for the Development of Cambodia, released on 19 November 2024. To further strengthen bilateral economic ties, the Cambodian Duke Association […]

Chinese Investor Zhongjiao Tongli Expands Agricultural Ventures in Ratanakkiri and Mondulkiri

China’s Zhongjiao Tongli has announced plans to invest in large-scale cultivation of bananas and mangoes across Cambodia’s northeastern provinces of Ratanakkiri and Mondulkiri, signalling a significant boost for the nation’s agricultural sector. The announcement followed a meeting between PM Hun Manet and Mr. Zhongdi Sun, President of Zhongjiao Tongli, on 6 November 2024, in Kunming, […]

Korean Firm Heungkuk Industry Eyes Investment in Cambodian Cashew Processing Sector

Heungkuk Industry, a leading South Korean construction materials manufacturer, is set to invest in Cambodia’s burgeoning cashew processing sector. The commitment was unveiled during a meeting on 19 November 2024 between HE Vongsey Visoth, Deputy PM overseeing the Office of the Council of Ministers, Mr. Lee Kee Yun, Director of Heungkuk Industry, and Professor Lee […]

ARK Electronics Group Unveils USD1.3 Billion AI driven Industrial Park Project in Kampong Speu

ARK Electronics Group, a leading Chinese company, has announced an ambitious USD1.3 billion investment to establish a 1,000-hectare industrial park in Kampong Speu Province, set to transform the province’s industrial landscape. The announcement followed a high-level meeting between HE Dr. Cheam Chansophoan, Governor of Kampong Speu Province, and Ms. Chang Venza, General Director of ARK […]