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Cambodia to Conduct 2nd Logistics Complex Development Study Worth Over US $2.5 Million

  • Posted Apr 19, 2023 15:17 by Hun Sirivadh
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PHNOM PENH: The Ministry of Public Works and Transport (MPWT) has signed an agreement with the International Finance Corporation (IFC) to conduct a study on the Sihanoukville Logistics Complex Development project, worth more than US $2.5 million.

The Sihanoukville Logistics Complex Development Project, SHV-LC (Sihanoukville Logistics Complex), is expected to promote the development of Cambodia's transport and logistics sector both nationally and regionally. Meanwhile, the country has already completed its first project in this sector in the capital city, Phnom Penh.

Speaking at the signing ceremony between the MPWT and IFC on Wednesday morning, 19 April 2023, the representative of the IFC, Asd Yqub, remarked that a good transportation system is needed to both boost the Cambodian economy and push the country’s integration into local and global value chains even further.

"IFC is very pleased to have made such a great contribution, whch has the potential to further integrate and strive for the economic growth of Southeast Asia," he said.

According to the IFC, while the government is funding the study on the transport and logistics project, the private sector will be involved in the project’s design, construction, financing, execution and maintenance.

The Minister of Public Works and Transport, Senior Minister Sun Chanthol, shared that this US $2.5 million study will begin in May.

“The Ministry of Economy and Finance will spend US $2.5 million of its budget for the study,” he said. “But when private companies come to bid for the project to build it in Sihanoukville, they will pay this money back, as the company will assume the cost of construction, so [the government] will not have to spend a penny. We make the initial investment, but then the winning bidder has to pay us back.”

Senior Minister Sun Chanthol also clarified that the development of the ‘logistics system’ refers to the development of infrastructure transportation, cold storage warehouses, as well as the procedures for transporting goods in and out of the country. He added that if Cambodia sets up this system well, the country will be able to reduce the overall time and cost of transport, which will stimulate greater competition to attract investors.

Cambodia completed its first Logistics Complex Development project in Phnom Penh. A Singaporean company, in collaboration with WorldBridge Group, has also already developed a venture center in the capital city. The Minister of Public Works has expressed hope that the completion of this new study in Sihanoukville will open the door to more companies developing similar centers in Cambodia.


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