BRI boosts Cambodia’s infrastructure and economic growth

BRI boosts Cambodia’s infrastructure and economic growth as stated by Cambodia’s senior minister for multilateral trade and economic affairs.

China’s Belt and Road Initiative (BRI) has revitalized the ancient Silk Road by extending its reach across land, sea, airspace, and cyberspace, according to Sok Siphana, Cambodia’s senior minister for multilateral trade and economic affairs. Speaking at the Global Chinese Economic and Technology (GCET) Summit 2024 in Phnom Penh, Siphana highlighted how the BRI has enhanced the flow of goods, services, capital, technology, and human resources between participating countries.

The BRI’s connectivity network encompasses economic corridors, international transport routes, railways, highways, airports, ports, pipelines, and power grids, offering a wide-reaching infrastructure framework. Siphana emphasized that ASEAN and Cambodia are reaping the benefits of the BRI, particularly through infrastructure projects that strengthen supply chain resilience and connectivity.

In Cambodia, the BRI has been crucial in realizing major infrastructure developments such as the Phnom Penh-Sihanoukville Expressway, the new Siem Reap Angkor International Airport, and the Sihanoukville Special Economic Zone, all of which have boosted the country’s competitiveness. Siphana noted that these projects have created thousands of jobs, promoted knowledge exchange, fostered entrepreneurship, especially in e-commerce, and led to technological advancements in sectors like electric vehicles and electronics.

He concluded that BRI initiatives will significantly help Cambodia achieve its long-term goals of becoming an upper-middle-income country by 2030 and a high-income country by 2050.