CDC engages investors with transport and logistics plan
SUN Chanthol, first vice-president of the Council for the Development of Cambodia (CDC), has been actively promoting the Comprehensive Intermodal Transport and Logistics Master Plan (CIT-MP) 2023-33 to attract more foreign investors to Cambodia.
Chanthol, who is also deputy prime minister, chaired a recent meeting of the National Logistics Council (NLC) to discuss the CIT-MP and the progress of the projects to develop the Phnom Penh Logistics Complex (PPLC) and the Sihanoukville Logistics Complex.
The February 20 meeting was attended by ministers from the ministries of Public Works and Transport, Commerce and Planning, along with technical officials and representatives from relevant government bodies and approximately 200 private institutions.
Chanthol urged all stakeholders, including public and private entities, to actively participate in disseminating the transformative plan aimed at attracting more investment to the country.
“The master plan is intended to enhance the transportation and logistics system by prioritising the construction of both physical and non-physical infrastructure. This effort is geared towards fostering a well-connected network within the country and with the region. It will further bolster national economic growth, while addressing
socio-economic sustainability and inclusivity needs,” he stated.
He said he consistently highlights the CIT-MP’s appeal to ambassadors and foreign investors, intending to streamline the investment process in the country.
For instance, in meetings with Sumitomo Corporation’s Overseas Industrial Park Department for Asia and Oceania representatives on February 20 and with Indian ambassador to Cambodia Devyani Khobragade on February 21, Chanthol said he encouraged Japanese and Indian investors to consider Cambodia as a promising investment destination. He proposed that both countries explore potential projects outlined in the CIT-MP.
Sin Chanthy, president of the Cambodia Logistics Association (CLA), said the master plan is attractive and aims to continue improving transport and logistics systems in the country.
“The plan focuses on promoting the construction of infrastructure that facilitates transportation, which will continue to contribute to the promotion
and sustainability of national economic growth. The CLA strongly supports the master plan, which will encourage the sector to grow,” he said.
He said that for the plan to achieve its goals, Cambodia must collaborate with private companies and development partners for support and investment. He also stressed the significance of logistical infrastructure for attracting investors to Cambodia.
The master plan, including several integrated plans for different aspects of transportation infrastructure, was officially approved by the government on August 2, 2023.
The CIT-MP outlines 174 projects encompassing roads, railways, waterways, ports, logistics and air transport. This multifaceted undertaking, valued at $36.6 billion, leverages private funds for development, relying on both the “Build-Operate-Transfer” (BOT) and Public-Private Partnership (PPP) models to avoid using the state budget. By attracting investments and creating jobs, the CIT-MP aims to position Cambodia competitively within the region.