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

  • Hun Sen: Full country reopening to be decided in two weeks

    Prime Minister Hun Sen has announced that if the Covid-19 situation remains stable for 15 consecutive days from the end of the October 5-7 Pchum Ben public holiday, Cambodia will reopen fully, albeit in the context of Covid-19 whereby people have to adjust their lives to

  • Cambodia unveils new quarantine regulations

    The government has modified Covid-19 quarantine requirements, shortening the duration for, among others, Cambodian officials, foreign diplomats and delegations, investors and inbound travellers in general. According to an official notice signed by Minister of Health Mam Bun Heng late on October 16, quarantine length for Cambodian

  • Cambodia sets new Covid-19 quarantine rules

    The government has modified Covid-19 quarantine requirements, shortening the duration for, among others, Cambodian officials, foreign diplomats and delegations, investors and inbound travellers in general. According to an official notice signed by Minister of Health Mam Bun Heng late on October 16, quarantine length for Cambodian

  • Hun Sen: Cambodia set to fully reopen

    Prime Minister Hun Sen concludes that the October 5-7 Pchum Ben public holiday, during which many people either flocked to their hometowns for family reunion or gathered at tourist attractions across the country, has not caused an outbreak of Covid-19. In a special address to

  • Will Evergrande change the way Chinese developers do business in Cambodia?

    China’s property sector policy has exposed the grim financial condition of real estate developers including those operating in Cambodia, which raises questions over the viability of their projects and business going forward The dark blue netting draping over one of Yuetai Group Co Ltd’

  • Cambodia voted ‘world’s friendliest country’ in Rough Guides reader poll

    Cambodia ranked number one among the “World’s Friendliest Countries”, according to a reader poll conducted by London-based international website “Rough Guides”. Taking submissions through Twitter and Facebook, “Rough Guides”, a well-known travel agency and publisher of guidebooks, said the Kingdom “was by far the