Logo of Phnom Penh Post newspaper Phnom Penh Post - Island nations offer advice on development of infrastructure

Island nations offer advice on development of infrastructure

A cargo container is lifted for shipping earlier this year at the Sihanoukville Autonomous Port.
A cargo container is lifted for shipping earlier this year at the Sihanoukville Autonomous Port. Sahiba Chawdhary

Island nations offer advice on development of infrastructure

At a regional conference held in Phnom Penh yesterday, international officials met to discuss how Cambodia needs to adopt a more resilient infrastructure strategy to ensure stable economic growth by taking lessons from regional counterparts and seeking out their guidance.

Speaking at the conference, Pheng Sovicheano, a secretary of state at the Ministry of Public Works and Transport, said that despite Cambodia’s rapid economic growth, the Kingdom needs more financing to develop infrastructure to ensure long-term prosperity.

“Recent growth in the Kingdom can be connected to the booming construction and tourism sectors, as well as a healthy flow of foreign direct investment,” he said. “But we understand there is still more to be done.”

Specifically, he cited an immediate need for an enhanced logistics sector that improves trade within the Kingdom.

The conference, which was co-hosted by the United Nations Office for Project Services (Unops) and Catholic Relief Services (CRS), brought together representatives from Sri Lanka, the Maldives and the Philippines.

Patali Champika Ranawaka, the minister of Sri Lanka’s Ministry of Megapolis and Western Development, noted that Cambodia could look to the island nation on how to address the development of its infrastructure.

“Cambodia can learn from Sri Lanka’s experiences, because Cambodia is facing a lot of the same challenges we have faced, including becoming a middle-income country and improving methods of transportation for exports,” he explained. “Cambodia can work to ensure the Mekong River is a commercial waterway, and can also learn from Sri Lanka’s plans to become a high-income country by 2030.”

Despite Sri Lanka and Cambodia both currently being classified as lower-middle-income countries, Sri Lanka is on the cusp of being solidly middle-income and has been lauded by the World Bank for years for its resilient economic policies despite consistent natural disasters.

Fathimath Shaana Farooq, director general of the Ministry of Housing and Infrastructure for the Maldives, explained that while her country is primarily concerned with developing harbour infrastructure between the nation’s 26 atolls, both countries could still learn from each other on how to manage development spending.

“Cambodia is very different [than the Maldives], but Cambodia can learn how we are focusing our investment in areas that will lead to sustainable development in the future,” she said.

“We can also learn from how Cambodia is integrating itself within the Southeast Asian community and becoming a viable economic partner for surrounding nations.”

She added that she saw great potential in bankability and options for future financing between the two nations.

Eleazar Ricote, deputy executive director at the Philippine Public-Private Partnership (PPP) Center, said that Cambodia needs to do more to ensure economic prosperity by meeting the UN’s Sustainable Development Goals (SDG). Of paramount importance, he stressed, should be initiatives to improve bankability, sustainability and risk management in the Kingdom.

“At the heart of SDG targets are infrastructure facilities in key sectors, including public health and energy, that will enable and sustain investments, jobs, consumption growth and poverty reduction,” he said, adding that Cambodia should follow the Philippines’ model for incorporating the goals into national plans.

“There’s an annual financing gap at current levels of investments, and the private sector accounts for most jobs, capital flows and GDP while also bringing efficiencies in innovation,” he said. “There is a need for private financing to better meet these goals.”

MOST VIEWED

  • Joy as Koh Ker Temple registered by UNESCO

    Cambodia's Koh Ker Temple archaeological site has been officially added to UNESCO’s World Heritage List, during the 45th session of the World Heritage Committee held in Riyadh, Saudi Arabia, on September 17. The ancient temple, also known as Lingapura or Chok Gargyar, is located in

  • Ream base allegations must end, urges official

    A senior government official urges an end to the allegations and suspicions surrounding the development of Cambodia’s Ream Naval Base, now that Prime Minister Hun Manet has addressed the issue on the floor of the 78th UN General Assembly (UNGA 78). Jean-Francois Tain, a geopolitical

  • Cambodia set to celebrate Koh Ker UNESCO listing

    To celebrate the inscription of the Koh Ker archaeological site on UNESCO’s World Heritage List, the Ministry of Cults and Religion has appealed to pagodas and places of worship to celebrate the achievement by ringing bells, shaking rattles and banging gongs on September 20. Venerable

  • CP denied registration documents by ministry

    The Ministry of Interior will not reissue registration documents to the Candlelight Party (CP). Following a September 21 meeting between ministry secretary of state Bun Honn and CP representatives, the ministry cited the fact that there is no relevant law which would authorise it to do

  • Cambodian diaspora laud Manet’s UN Assembly visit

    Members of the Cambodian diaspora are rallying in support of Prime Minister Hun Manet’s forthcoming visit to the 78th UN General Assembly (UNGA 78) in the US’ New York City this week. Their move is an apparent response to a recent call by self-exiled former

  • After three deferrals, Capital Gains Tax to take effect Jan 1, 2024

    The General Department of Taxation (GDT) will implement the Capital Gains Tax starting January 1, 2024 to after being deferred three times as industrial players warn that the implementation might have some negative impact on the property market growth, which is down due to the economic downturn.