PM Urges Domestic Private Firms to Invest in Bonds to Fund New PP Airport Construction

Prime Minister Samdech Hun Sen has urged local financial institutions to invest in the new Phnom Penh International Airport in Kandal province through the US$300-million guaranteed bond issued by Cambodia Airport Investment Co., Ltd (CAIC).

Among the total bond amount, to date, over US$80 million have been issued to many firms such as banks, insurance companies, and other financial institutions.
PM Hun Sen said that local financial institutions should help buy the remaining bonds to prove that Khmer can also fund their own large-scale project just like the “Khmer Can Do it” slogan.

“Domestic investment is indeed safer. As the investors are local, they will not run away. Unlike foreign investors, they can go anywhere at any time,” said PM Hun Sen.

“Raising funds from local investors will also help boost the economy through the better movement of cashflow,” he added.

As of December 2021, the construction of this new Phnom Penh airport, which was given a new name as `Techo Krong Takmao International Airport, is 27% complete and scheduled for operation in 2023. (Read more)

- Video Advertisement -

Related Post

ADB Commits USD 400 Million Large-Scale Financing for Clean Water and Sanitation in Cambodia by 2025

The Asian Development Bank (ADB) has pledged a transformative USD 400 million Large-Scale Financing (MFF) project to advance clean water and sanitation infrastructure across Cambodia, targeting approval by the end of 2025. This announcement follows the success of an ongoing USD 119 million Provincial Water Supply and Sanitation Project currently active in the provinces of […]

China’s Sailun Group to Launch $110 Million SEZ in Kampot Province

Chinese tyre manufacturing giant Sailun Group has announced plans to develop an industrial park named the “Cambodia Kampot Special Economic Zone Project” (Kampot SEZ) in Cambodia, backed by an impressive $110 million investment. The new venture will be managed by a wholly-owned subsidiary, Kampot Bay Investment Co., Ltd., established specifically to implement the Kampot SEZ […]

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 $4 billion, a stark contrast to the nearly 4,841 projects worth approximately $12 billion in 2020. The latest report from the Ministry of Land Management and Urban Planning, presented by CBRE Research on […]

USAID Grants USD 55 Million to Cambodia, Prioritizing Food Security, Health, and Environment

The United States, through the United States Agency for International Development (USAID), has allocated over USD 55 million to strengthen Cambodia’s food security, environmental conservation, civil society, health, investment landscape, and demining efforts. This major funding package was detailed in a press release from USAID on 22 and 23 October 2024. Ms. Samantha Power, Director […]

PM Celebrates Inauguration of USD 62 Million Dam Rehabilitation Projects in Mondulkiri

Three major dam rehabilitation projects in Mondulkiri, the Otethipadi, Sen Sokdom, and Sen Monorom dams, have officially been inaugurated, representing a USD 62 million investment aimed at transforming the province’s water infrastructure. The inauguration ceremony, presided over by PM Hun Manet, marked a significant step towards improving local livelihoods, with the projects set to supply […]

Bokor Mountain Cable Car Project Under Study by Sokimex, Doppelmayr, and Confluences

Sokimex Investment Group (SIG) has granted permission for Doppelmayr and Confluences to explore the feasibility of a cable car system on Bokor Mountain in Kampot Province, aiming to boost tourism and economic growth. This announcement was shared on the official Facebook page of SIG on 21 October 2024, confirming the companies’ involvement in assessing the […]