China’s BRI a great benefit


“Cambodia is among the first supporters of the BRI,” Hun Sen said. “Cambodia and other countries in the region have benefited a lot from the BRI.” — China Daily

Phnom Penh: Cambodian prime minister Samdech Techo Hun Sen says that the Belt and Road Initiative (BRI) has provided a lot of tangible benefits to his country and other participating countries.

Speaking at a groundbreaking ceremony for the construction of a China-funded river bridge, Hun Sen said the BRI has injected vital impetus into Cambodia’s socio-economic development.

“Cambodia is among the first supporters of the BRI,” he said. “Cambodia and other countries in the region have benefited a lot from the BRI.”

Chinese ambassador to Cambodia Wang Wentian said 2023 marks the BRI’s 10th anniversary, saying that in the last 10 years, China and Cambodia had achieved remarkable results in their pragmatic cooperation under the BRI’s framework.

He said through the initiative, China has supported a number of mega-projects in the development of roads, bridges and power transmission lines, among others.

He pointed out that the Sihanoukville Special Economic Zone, the flagship project of China-Cambodia cooperation under the BRI, has been making progress steadily.

Aerial photos taken on July 19, 2022 showed the entrance of the Sihanoukville Special Economic Zone or SSEZ in Preah Sihanouk province, Cambodia.

“A large number of enterprises have settled in the zone, which has created more than 30,000 jobs for locals and contributed to the socioe-conomic development in Cambodia,” Wang said.

Neak Chandarith, director of the Cambodia 21st Century Maritime Silk Road Research Centre, said the BRI projects will be a contributor to the economic growth in Cambodia and in the region in the post-pandemic Covid-19 era.

“I believe that the BRI projects here will help Cambodia achieve its ambitious goal of becoming an upper-middle income country by 2030 and a high-income country in 2050,” he told Xinhua.

“BRI projects such as airports, electric power plants, manufacturing bases, and expressways are crucial for the integration of the Cambodian economy with other economies of the world,” Chandarith said.

Joseph Matthews, a senior professor at the Beltei International University in Phnom Penh, said the BRI was a driving force to continue expanding cooperation among countries in the region and the world at large for the cause of peace, security, prosperity and sustainable development.

“It is becoming the new engine of global economic growth in the post-pandemic era,” he said.

Besides Cambodia, other South-East Asian nations such as Laos, Thailand, Indonesia and Malaysia have also greatly benefited from the BRI, Matthews said.

“The China-Laos Railway, which connects Kunming in China’s Yunnan Province with the Lao capital Vientiane, is a boon not only for both countries, but also for other South-East Asian nations,” he said.

Kin Phea, director-general of the International Relations Institute of Cambodia, said the BRI has not only brought enormous advantages to all participating countries, but also become a long-term strategy to promote connectivity and cooperation in all fields such as infrastructure, economy, investment and finance, and to strengthen people-to-people bonds.

“Every country stands to benefit from the BRI, of course at different levels, depending on their participation,” he told Xinhua.

“Through our observation, we see that the BRI has a very positive impact on Cambodian economic growth. The BRI was initiated by China in 2013 to build trade and infrastructure networks connecting Asia with Europe and Africa.” — Xinhua

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Cambodia , BRI , China , megaprojects , SEA

   

Next In Business News

Choosing between unbuilt homes and sub-sale units
Malaysia in the lead
When a tenant refuses to leave
Eco World redesignates Leong Kok Wah as non-independent, non-executive director
Ringgit seen trading in cautious mode ahead of US rate decision next week
Oil settles at 3-week high as more Russia sanctions loom
Local market treads water
Governance challenges continue at TMC Life after CEO’s removal
Estates of late tycoons spark M&A interest
Macquarie bidding for Axiata’s EDOTCO

Others Also Read