This $114 million strategic project, financed by a concessional loan from the People’s Republic of China, is more than just concrete and steel. It is a vital link of hope, connecting the east and west banks of the Mekong and bridging remote northeast regions to the heart of Kratie and Kampong Thom.

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This ambitious target was reaffirmed during high-level talks between Cambodian Prime Minister Hun Manet and Vietnamese Prime Minister Pham Minh Chinh in Phnom Penh. The meeting took place on the sidelines of the trilateral summit between the leading parties of Cambodia, Vietnam, and Laos.

Prime Minister Hun Manet welcomed the Vietnamese delegation, noting the strong momentum built since their previous session in Ho Chi Minh City in 2025. Both leaders praised the current state of “good neighborliness and comprehensive cooperation” that continues to drive socio-economic development for both nations.

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Prime Minister Hun Manet expressed immense pride in this transformation during the inauguration of the new Conch KT Cement (Phnom Penh) Co., Ltd. factory in Kampong Speu province. He recalled that prior to 2007, Cambodia was entirely dependent on cement imports from countries like Thailand, Vietnam, Indonesia, and the Philippines.

Today, Cambodia boasts six operational cement plants that fully meet domestic demand. The country has also taken its first steps into international markets, with over 30,000 tonnes of cement exported to Thailand in 2024.

Prime Minister Hun Manet urged the Ministry of Mines and Energy and the Cambodian Cement Manufacturers Association to actively intensify efforts to explore additional international markets for Cambodian cement. He also advised the ministry to carefully assess proposals for limiting new cement licenses. This strategic approach aims to maintain a competitive market environment and prevent potential business setbacks within the industry.

Cambodia’s six current cement plants — Kampot Cement, Cambodia Cement Chakrey Ting, Chip Mong Insee Cement, Battambang Conch Cement, Thai Bun Rong Cement, and Conch KT Cement — represent a substantial investment of approximately US$1.11 billion. Together, they boast an impressive annual production capacity of around 11 million tonnes.

According to H.E. Keo Rottanak, Minister of Mines and Energy, three additional cement plants are currently under construction in Kampot, Battambang, and Kratie provinces. Once completed, these new facilities are projected to add another 5 million tonnes to the country’s annual capacity.

The newly inaugurated Conch KT Cement (Phnom Penh) Co., Ltd. factory in Oral district, Kampong Speu province, is a significant addition to this growth. With an investment of US$250 million, the plant has an annual production capacity of approximately 2.2 million tonnes of cement. It is expected to create 450 direct jobs and around 1,000 indirect jobs.

This new facility marks the second major cement investment by the Conch Group in Cambodia. Their first venture, Battambang Conch Cement Co., Ltd., a joint venture inaugurated in 2018, has an annual production capacity of 2 million tonnes.

Prime Minister Hun Manet emphasized that this new factory would significantly boost Cambodia’s cement production, ensuring the country continues to meet its domestic needs. To further support the construction sector and lower the cost of local cement, the Premier also announced a five-year extension of tax exemptions for cement factories.

Cambodia’s journey from cement importer to emerging exporter is a testament to its robust economic development and strategic industrial planning.

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Last week, both the Ministry of Land Management, Urban Planning and Construction, and the Ministry of Public Works and Transport, separately convened with AIIB technical teams. These discussions centered on reviewing the preliminary study for the metro network, including expert input and progress assessments.

Following these meetings, site visits are planned to key locations across Phnom Penh, such as bus terminals, railway stations, both existing and planned airports, and new development zones. These visits will help determine priority routes and intersections for detailed feasibility studies, ultimately informing the development of an effective urban public transport network.

The preliminary study, formalized through a Memorandum of Understanding between the Ministry of Public Works and Transport and AIIB in September 2024, builds upon previous transportation studies conducted by the ministry and Phnom Penh Municipality, including light rail, automated guided transit, bus rapid transit, and tramways.

The Ministry of Public Works emphasized that this study is one component of a comprehensive approach to addressing Phnom Penh’s transportation needs. The goal is to identify the most effective and affordable solution to reduce congestion, enhance safety, and protect the environment.

The ministry also clarified that completing the study does not guarantee the construction of a subway system, but rather provides a basis for informed decision-making.

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The projection was mentioned in the draft National Budget Law 2024 released late last week by the Ministry of Economy and Finance.

The projected 2024 economic growth is higher than that of 2023 which is estimated to be 5.6 percent, it pointed out. Gross domestic product per capita is expected to increase to $2,071 in 2024, up from an estimated $1,917 in 2023, the source underlined.

The industry sector is expected to increase by 8.5 percent in 2024, up from 5 percent in 2023 thanks to the expected recovery of the garment sub-sector and the strong growth of the non-garment manufacturing sub-sector, while the growth in the construction sector would remain low.

The service sector is forecast to continue to grow, at 6.9 percent next year even though less than in 2023 (around 8.1 percent) with the recovery of local economic activities, and the agriculture sector is expected to achieve a 1.1 percent growth in 2024, up from 0.9 percent this year thanks to crop, fisheries and animal husbandry sub-sectors.

The draft document, however, stated that Cambodia will continue to face major risks and challenges, especially from external factors that could make the growth unable to achieve as projected and slow down Cambodia’s overall economic growth over the medium period.

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The projects are located in the provinces of Preah Sihanouk, Svay Rieng, and Banteay Meanchey. They will involve the construction of a sock factory, an outdoor furniture factory, and a vehicle spare part factory.

The first project belongs to Juhai Baoshun (Cambodia) Co., Ltd., while the second belongs to Home Terrace Co., Ltd., and the third belongs to Techno Park Poi Pet PVT Co., Ltd.

The CDC also approved 191 investment projects during the January-September period this year, up 27% from the same period last year. The total investment value is US$3.76 billion, up 8.6%.

The top five foreign investors in Cambodia are China, Malaysia, the British Virgin Islands, Singapore, and Vietnam.

Cambodia adheres to an open investment policy in all areas for both domestic and foreign investors.

The Council for the Development of Cambodia (CDC) provides information to investors on investment incentives and priority activities and facilitates investment in collaboration with ministries and institutions.

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According to a CDC’s press release issued yesterday, the newly approved projects are located in the provinces of Kampong Speu, Takeo, and the capital of Phnom Penh

Under the six investment projects, factories of noodles, cardboard boxes, footwear, and garments will be created, it pointed out. They are expected to generate nearly 7,600 jobs for the locals, added the same source.

Cambodia as in August alone could see total investment projects worth over $480 million, mostly in the garment sector, and could create jobs for nearly 35000 workers.

During the first six months of this year, the CDC granted the green light to 113 investment projects and investment expansion projects with a total capital of $1,105 million.

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“Within the framework of the MLC Special Fund 2023, a total of nine projects in Cambodia will secure financial support amounting to approximately USD 2 million. They will create greater impact in their respective fields, including transport and logistics, information systems, food security, research, capacity building, and cultural conservation,” the press release wrote.

“Over the past six years, the MLC Special Fund has extended monetary assistance to around 80 projects within the Kingdom. The implementation of these collaborative initiatives demonstrates the ongoing commitment of Cambodia and China to contribute to the establishment of a Community of Shared Future of Peace, Prosperity, and Sustainable Development for all the Mekong-Lancang countries”.

Lancang-Mekong Cooperation is a multilateral format established in 2016 for cooperation between the riparian states of the Lancang River and Mekong River. The Lancang is part of the Mekong that flows through China. Cambodia, Laos, Myanmar, Vietnam, and Thailand are five downstream countries of the Mekong River.

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Horm Nimol, ADB’s Deputy Chief Technical Adviser, stated that the preparation of foundations and drainage systems has been concluded in the first stage, and the rest of the construction will be completed in the next two stages.

Although the rainy season may cause some hindrances, it will not impact the project’s completion, scheduled within the next three months. The coastal road will be a crucial tourist route that connects Kep Beach and Angkol Beach.

In the future, this will lead to a surge in the number of tourists visiting Kep province while also reducing congestion on Kep Beach.

The coastal road project is a subset of the ADB’s Phase II Greater Mekong Subregion Sustainable Growth Tourism Infrastructure project, which also features two other sub-projects: the Koh Tonsay port project, which has recently been transferred to the provincial administration, and the newly launched landfill.

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This will be Cambodia’s first-ever historic project in the water transport sector, connecting the Mekong River system and the sea route. The two-part feasibility study for the Tonle Bassac Navigation and Logistics System Project will take 26 months to complete: 14 months for the preliminary study (Phase 1) and 12 months for the feasibility study (Phase 2).

The proposed waterway stretches 180 kilometers, from Takeo Canal on the Mekong River, passing through Ta Ek Canal and Ta Hing Canal of the Bassac River, Koh Thom district, and reaching Kep province, where it will connect to the sea. The waterway passes through four provinces, namely Kandal, Takeo, Kampot, and Kep, and has a total population of 1.6 million living alongside it.

The project has numerous benefits beyond shortening current transit times and distances. It will establish trade zones and logistics centers, develop new satellite ports, expand agricultural production, support the development of Cambodia’s fourth economic pole, and create jobs.

The project will also promote urbanization, encourage real estate growth, and bolster ports such as Sihanoukville Autonomous Port and Phnom Penh Autonomous Port.

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