PHNOM PENH: Japan-based Sumitomo Mitsui Banking Corporation (SMBC) currently is looking for opportunities to collaborate with the Royal Government of Cambodia, including two multibillion-dollar Cambodian projects.
The commitment was made during a meeting between H.E Sun Chanthol, Minister of Public Works and Transport, and a delegation from Sumitomo Mitsui Banking Corporation (SMBC) led by Mr. Rajeev Kannan, Chief Executive Officer, on the morning of January 30, 2023.
The Senior Minister stated that the development of transportation infrastructure and logistics remains the Royal Government of Cambodia’s main strategy for promoting the national economy, to which Samdech Techo Prime Minister pays close attention.
The Phnom Penh-Sihanoukville Expressway project is operational, the Phnom Penh-Bavet expressway project has been completed and construction is scheduled to begin in mid-2023, the study of the Phnom Penh-Siem Reap expressway project, and Cambodia’s first high-speed rail project, Phnom Penh-Poipet.
The Senior Minister also mentioned the port sector’s development, including the Sihanoukville Port and the Kampot Multi-Purpose Port. He added that the Royal Government intends to turn Sihanoukville into a special economic zone, complete with transportation, ports, logistics, power plants, tourism, and hospitality.
The SMBC delegation expressed strong interest in the development projects mentioned by the Senior Minister, as well as an appreciation for Cambodia’s rapid progress in infrastructure and transportation.
SMBC also stated that it is looking for ways to collaborate with the Royal Government and has asked the Senior Minister for guidance in order to seek investment opportunities for new Ministry of Public Works and Transport projects.
The company has a strong interest, particularly in the logistics and port sectors, in which there are two major projects that SMBC is very interested in financing, including the Kampot Tourism Port Project and the logistics master plan development project, which has more than 332 projects with a budget of more than $ 48 billion.