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ASEAN Secretary-General Pledges Trade and Investment Boost Within Bloc

  • Posted Mar 14, 2024 10:31 by Anthony Ellis
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Phnom Penh, March 14, 2024: The ASEAN Secretary-General has unveiled a strategic blueprint aimed at expanding trade relations and cultivating investment opportunities across the ASEAN region. This initiative places a strong emphasis on enhancing the skills and competitiveness of ASEAN citizens through comprehensive capacity-building programs.

During a diplomatic visit to the Deputy Prime Minister and First Vice President of the Council for the Development of Cambodia (CDC), Secretary-General Kao Kim Hourn articulated these ambitions, emphasizing the potential for regional economic growth and prosperity.

Deputy Prime Minister Sun Chanthol provided insights into Cambodia's ambitious national development agenda, highlighting pivotal infrastructure projects geared towards enhancing land, waterway, and air transport networks. Notably, the groundbreaking Funan Techo Canal project was spotlighted, poised to revolutionize Cambodia's waterway transport sector by connecting the Mekong River system with maritime routes.

Conversations delved into Cambodia’s Comprehensive Intermodal Transport and Logistics Master Plan (CIT-MP) for 2023-2033, an extensive strategy comprising seven integrated master plans spanning various transportation modes. With 174 projects outlined and an estimated capital investment of US$36.6 billion, this plan signifies Cambodia's bold infrastructural vision for the future.

Moreover, the Deputy Prime Minister underscored the CDC's endeavors in modernizing investment project registration, aligning with the Royal Government of Cambodia’s strategic priorities. This digital transformation initiative aims to enhance the efficiency, transparency, and accessibility of the Qualified Investment Project (QIP) registration process, thereby facilitating smoother administrative procedures and attracting increased investment into the country.

These discussions reflect ASEAN's broader ambition to bolster internal connectivity and competitiveness while positioning the region as an attractive hub for global trade and investment.


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