IFC to Invest Over USD 37 Billion in Cambodia’s Infrastructure & Logistics by 2033

• 21 December 2024
• Local News
• 709 Views

The International Finance Corporation (IFC) has announced its readiness to explore investments exceeding USD 37 billion in Cambodia’s infrastructure and logistics sectors. This ambitious initiative was unveiled during a recent high-level meeting between HE Sun Chanthol, Cambodia’s Deputy PM and First Vice President of the CDC, and Mr. Riccardo Puliti, Vice President of the IFC and leader in the World Bank’s Asia-Pacific operations.

During the discussions, Mr. Puliti lauded Cambodia’s investment-friendly policies and reiterated the IFC’s longstanding partnership with the nation. He stressed the importance of understanding Cambodia’s priority areas and policy frameworks to identify innovative opportunities for collaboration.

Highlighting the Cambodian government’s Comprehensive Master Plan for the Cambodian Transit and Logistics System (2023–2033), HE Sun Chanthol showcased a suite of 174 projects that aim to elevate the country’s transportation and logistics capabilities. Among these are key initiatives such as the development of high-speed rail, waterways, ports, airports, and logistics centers, all of which are integral to a broader strategy to position Cambodia as a regional logistics hub.

HE Sun Chanthol further reassured the IFC of Cambodia’s welcoming stance toward foreign investments, emphasizing the country’s commitment to allowing 100% business ownership across all sectors. The Cambodian Investment Law, he explained, prioritizes critical industries such as high-tech manufacturing, electronics, automotive, agriculture, agro-processing, digital industries, logistics infrastructure, and tourism.

The USD 37 billion investment blueprint aligns with the Royal Government’s broader economic goals, targeting enhanced connectivity and increased competitiveness on the global stage.

The IFC expressed particular interest in exploring projects within the Master Plan, signaling a potential influx of transformative capital and expertise into the region.

The partnership between the IFC and Cambodia heralds a new era of development, with both parties committed to advancing infrastructure and logistics to unlock economic opportunities. As these plans take shape, the global community will keenly observe how Cambodia’s strategic investments redefine its economic future and strengthen its role in the global logistics network.

• Cooperation and networking