Singapore Mulls Investing More in Three Major Sectors in Cambodia

• 17 February 2022
• Local News
• 2003 Views

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)

• Business and Market
• Investment and Funding