International Finance Corporation Set to Transform Cambodia’s Infrastructure and Logistics Landscape

• 21 December 2024
• Local News
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In a promising development for Cambodia’s economic growth, the International Finance Corporation (IFC) has announced its commitment to explore significant investments in the country’s infrastructure and logistics sectors. This initiative was highlighted during a recent meeting between HE Sun Chanthol, Deputy Prime Minister and First Vice President of the Council for the Development of Cambodia, and Mr. Riccardo Puliti, Vice President of the IFC and a key figure in the World Bank’s Asia-Pacific operations.

Mr. Puliti expressed enthusiasm about the potential for collaboration, noting that the IFC has built a strong partnership with Cambodia and is keen to deepen its engagement. He emphasized the importance of understanding Cambodia’s policy landscape and priority areas, which could pave the way for innovative investment opportunities.

In response, HE Sun Chanthol underscored Cambodia’s welcoming environment for foreign investors. He reassured that all sectors are open for investment, allowing for 100% business ownership without discrimination. The Deputy Prime Minister highlighted the Cambodian Investment Law, which emphasizes priority sectors, including high-tech industries, electronics, automotive, agriculture, agro-processing, digital industries, logistics infrastructure, and tourism.

A centrepiece of the discussion was the Royal Government of Cambodia’s Comprehensive Master Plan for the Cambodian Transit and Logistics System, covering the years 2023 to 2033. This ambitious plan encompasses 174 projects aimed at enhancing the country’s transport capabilities, with an investment threshold exceeding 37 billion US dollars. Key projects include the development of high-speed rail, waterways, ports, airports, and logistics centres.

Mr Riccardo Puliti conveyed his strong interest in the projects the Deputy Prime Minister presented and committed to considering them for further exploration. This engagement paves the way for transformative infrastructure advancements in Cambodia, potentially unlocking new economic pathways and enhancing the nation’s position in the global logistics network.

The collaboration between Cambodia and the IFC signals a significant step towards bolstering the country’s infrastructure, fostering economic development, and attracting further foreign investment. As these discussions unfold, the world will watch closely to see how Cambodia’s economic landscape evolves.

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