Over 1 Million Visit Siem Reap During Four-Day Khmer New Year Festivities | Cambodian Prime Minister to Open UN-ESCAP’s 80th Session in Bangkok | A Picture Tells a Thousand Words: Happy Chaul Chnam Thmey | Cambodian Artists Shine at China-ASEAN Intangible Cultural Heritage Week |

Cambodia Unveils $40 Billion Transit and Logistics Master Plan to Boost Competitiveness

Phnom Penh: Deputy Prime Minister Sun Chanthol, serving as the First Vice President of the Council for the Development of Cambodia, presided over the pivotal fourth meeting on the “Comprehensive Master Plan on the Cambodian Transport and Logistics System 2023-2033.” This strategic plan, which was formally endorsed by the Royal Government on August 2, 2023, outlines Cambodia’s vision for transforming its transport and logistics infrastructure over the next decade.

During the meeting, Deputy Prime Minister Sun Chanthol highlighted the extensive discussions that took place regarding the execution of the master plan. Additionally, the progress on establishing the Phnom Penh Logistics Center was reviewed. This significant project, which forged a partnership with the Singapore-based YCH Group in 2021, is projected to cost $200 million. The meeting also covered developments on a logistics center in Sihanoukville, poised to further enhance Cambodia's transport and logistics sectors.

The Deputy Prime Minister revealed that the master plan encompasses 174 projects, requiring an estimated investment of nearly $40 billion over the next ten years. This investment will not be sourced from the state budget but will instead rely on private sector engagement and development partners through Build-Operate-Transfer (BOT) and Public-Private Partnership (PPP) models. The ambitious plan aims to position Cambodia as a competitive destination for investors and to generate employment opportunities for its citizens.

Deputy Prime Minister Sun Chanthol emphasized the necessity of collaboration with private enterprises and development partners to realize the objectives of the master plan. He stated that enhancing the logistics system is crucial for attracting investment into Cambodia, thereby driving economic growth and development.

This strategic initiative underscores Cambodia’s commitment to improving its infrastructure to foster a conducive environment for business and investment, setting a course for sustainable economic progress and regional competitiveness.

Related News