Cambodia, World Bank Discusses Strategy to Reduce Logistics Costs in Cambodia

• 7 June 2022
• Uncategorized
• 2398 Views

The Ministry of Economic and Finance and the World Bank discussed developing strategies to reduce logistics costs and create a more efficient transportation and logistics system in Cambodia.

The discussion took place in a meeting between HE Vongsey Visoth, Minister Delegate to the Prime Minister and Secretary of State for the Ministry of Economy and Finance, and Cordula Rastogi, World Bank’s Senior Economist of the WB, on June 6, 2022.

In the meeting, HE Vongsey Visoth said that the logistics sector is a priority and a key area for promoting trade and investment as well as general development for Cambodia, citing that Cambodia’s economy will not be able to grow in the long run if Cambodia does not have an efficient logistics system.

Through structural reforms to reduce logistics costs and develop a more efficient transport and logistics system, it is to attract investments that would relocate from China to accelerate economic base diversification in the short, medium and long term.

In the meeting, the two parties agreed to continue to study in-depth a number of other points to make the important strategic document become an agenda of the government’s sharp reforms to promote the attractiveness of external investments and businesses.

• Policy and Strategy
• Logistics and transportation