PHNOM PENH – December 16, 2024 : The International Finance Corporation (IFC) has expressed keen interest in investing in Cambodia’s infrastructure and logistics sectors.
During a courtesy call on Monday, December 16, 2024, Mr. Riccardo Puliti, Vice President of IFC for the Asia-Pacific Region, met with His Excellency Sun Chanthol, Deputy Prime Minister and First Vice President of the Council for the Development of Cambodia.
Mr. Puliti highlighted IFC’s role in promoting sustainable private sector development in the region and expressed his intention to strengthen collaboration with Cambodia. He specifically mentioned the potential for IFC to support the Royal Government of Cambodia’s ambitious goal of becoming a high-income country by 2050.
In response, DPM Sun Chanthol emphasized the Cambodian government’s commitment to private sector-led growth and its efforts to improve the investment climate. He highlighted the country’s priority sectors, including high-tech industries, electronics, automobiles, agriculture, agro-industry, agro-processing, digital industries, infrastructure, logistics, and tourism.
A particular focus was placed on the transport and logistics infrastructure sector. The Cambodian government has approved a comprehensive master plan for the Cambodian Intermodal Transport and Logistics System 2023-2033, which includes 174 projects requiring an investment of over US$37 billion. IFC could play a crucial role in financing and developing key projects within this plan.
Additionally, DPM Sun Chanthol discussed the Funan Techo Canal project, which is expected to significantly reduce transportation costs and congestion.
In the realm of clean energy, Cambodia has made substantial progress, achieving a 60% clean energy share. The government aims to increase this to 70% by 2030 and achieve carbon neutrality by 2050. IFC’s support in this area could be instrumental in reaching these goals.
Both parties expressed optimism about future cooperation and the potential for IFC to contribute to Cambodia’s economic development.