Logo of Phnom Penh Post newspaper Phnom Penh Post - China’s Silk Road funds may spell better roads

China’s Silk Road funds may spell better roads

China’s Silk Road funds may spell better roads

The Cambodian government is hopeful that China’s recently announced Silk Road funding plan will boost the Kingdom’s public infrastructure development.

During talks with leaders from Bangladesh, Cambodia, Laos, Mongolia, Myanmar, Pakistan and Tajikistan on Saturday, Xi Jinping, China's president, announced the $40 billion New Silk Road initiative. The initiative aims to improve the participating countries’ road, railway, air and sea connectivity.

“The funding will be provided in both grants and loans,” Chheang Vun, CPP lawmaker and chairman of the Foreign Affairs Committee of National Assembly, said.

“We need capital for the country’s development. Investors will come to Cambodia once infrastructure like roads, electricity and other public services are improved.”

Srey Chanthy, an independent economic analyst, said the funding would certainly assist Cambodia’s development, however it was also a clear attempt by China to reach a bigger market for their products.

“Better infrastructure will help cut down production cost making Cambodia a competitive place for investment,” he said.

MOST VIEWED

  • Reuters: US Embassy fired 32 staff members for sharing pornography

    The United States Embassy in Phnom Penh has fired 32 non-diplomatic staff members who were allegedly caught exchanging pornographic images and video, including of minors, according to the news agency Reuters. Four sources, who spoke on condition of anonymity, told Reuters the content was shared in

  • Our 2018 guide to spending Khmer New Year in Phnom Penh

    Khmer New Year festivities are upon us. For the next few days, travellers will be making their way to their home provinces to eat, celebrate, play traditional games and visit a pagoda with offerings. If you will be staying put in Phnom Penh for the

  • US think tank warns of China's 'ulterior motives'

    A US think tank on Tuesday warned that spreading Chinese investment in the Indo-Pacific follows a pattern of leveraging geopolitical influence at the expense of the nations receiving investment, including Cambodia. The report looks at a sample of 15 Chinese port development projects, noting that the

  • More than three tonnes of ivory reportedly bound for Cambodia seized in Mozambique

    A total of 3.5 tonnes of ivory reportedly bound for Cambodia was seized by authorities in Mozambique late last week, according to the NGO Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES). CITES' information was based on a report from the