Singapore Mulls Investing More in Three Major Sectors in Cambodia

Singapore’s Minister for Foreign Affairs Vivian Balakrishnan has said Singapore intends to invest more in three major high-potential sectors in Cambodia including trade, cold chain, and logistics.

HE Vivian Balakrishnan cited the investment plan during the official meeting with Cambodia Prime Minister Samdech Hun Sen Wednesday 6 February, while praising Cambodia for being a country with the highest vaccination rate in the region.

He added that the strong COVID-19 management of Cambodia makes Singaporean investors more confident and willing to invest more in Cambodia, especially in the cold chain, warehouse, and logistic sectors.

In response, Samdech Hun Sen encouraged all investments but urged Singapore to consider investing in education, health and other sectors.

Regarding the large-scale Singaporean investment in Cambodia, the US$200-million Phnom Penh Logistics Complex (PPLC) project is moving forward and is expected to begin construction this year.

The Ministry of Public Works and Transport (MPWT) has already signed a framework agreement with Singapore’s YCH.

YCH Group Chairman Robert Yab said that Cambodia is a high potential investment destination, especially in the sector of logistic infrastructure. (Read more)

- 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 […]

Get Real: Powerful 3D Software Brings The Future of Infrastructure to Life in Just a Few Clicks

 Greg Demchak stood before an enormous LED screen in a dark hotel conference room. With a game controller and a keyboard, he moved his audience through a digital model of Barcelona. The glowing screen showed a bird’s-eye view of the Spanish city’s famed “manzanas,” the octagonal block of buildings designed by the visionary 19th […]

Cambodia Construction Expo 2024 to Showcase Over 2,000 Products and Services on 5-7 December

The Cambodia Construction Expo 2024, a cornerstone event for the nation’s construction industry, is set to take place from 5 to 7 December 2024, promising to be a key driver of industrial growth. Organised by the Cambodia Constructors Association (CCA), the three-day exhibition will feature hundreds of domestic and international companies showcasing over 2,000 products […]

Two Chinese Firms to Expand Investment in Cambodia with New Garment Factories

Fortune Rich Trade Co., Ltd. and Ju Wang Footwear Co., Ltd., two prominent Chinese firms, have announced plans to establish additional garment factories in Cambodia, focusing on producing women’s and children’s clothing for international markets. This significant investment initiative was unveiled during a meeting with PM Hun Manet on 6 November 2024 in Kunming, Yunnan […]

China Construction America Ordered to Pay US$1.6 Billion and Conflict of Political Interests Behind

A New York court has ordered China Construction America Inc. (CCA), a subsidiary of Chinese state-owned China State Construction Engineering, to pay US$1.6 billion to BML Properties, the original owner of the Baha Mar casino resort in the Bahamas, after the contractor was found to have committed “many acts of fraud” during its takeover of […]

Cambodia Constructors Association’s Successful Business Tour at Foshan Trade Conference

The Cambodia Constructors Association (CCA) successfully led a business tour from 18 to 21 October 2024, to the Foshan Building Materials and Sanitary Ware RCEP & Central Asia Fair and Conference in Foshan, Guangdong, China. This event provided an essential platform for Cambodian construction firms to engage with international industry leaders, suppliers, and potential partners, […]