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Angkor Times
Angkor TimesExperienced
Asked: February 16, 2024

Is collaboration the key to boosting digitalization in Cambodia? Prime Minister Hun Manet believes so, as he calls upon ministries, institutions, and educators to join forces in embracing digitalization to meet the country’s development goals and facilitate its transition to ...Read more

Is collaboration the key to boosting digitalization in Cambodia? Prime Minister Hun Manet believes so, as he calls upon ministries, institutions, and educators to join forces in embracing digitalization to meet the country’s development goals and facilitate its transition to a digital economy and government.

Speaking at the inauguration of the National University of Management’s new campus in Phnom Penh, Prime Minister Hun Manet emphasized the significance of digitalization in driving economic growth. He underscored the pivotal role of higher education in nurturing a skilled workforce capable of thriving in this digital era.

Prime Minister Hun Manet inaugurates the new campus of the National University of Management in Phnom Penh
Prime Minister Hun Manet inaugurates the new campus of the National University of Management in Phnom Penh

Moreover, the Prime Minister highlighted the importance of green economic development in achieving sustainable socio-economic growth. He stressed the need for collaboration in constructing green infrastructure and transitioning to renewable energy sources.

To ensure alignment with the government’s digital agenda, Prime Minister Hun Manet mandated all government ministries and institutions to establish digital transformation units during the Seventh Mandate.

The Cambodian government has introduced several policies to propel digitalization forward, including the Cambodia Digital Economy and Society Policy Framework 2021-2023, the Cambodia Digital Government Policy 2022-2035, the Pentagonal Strategy Phase One, and the Cambodia Financial Technology Development Policy 2023-2028. These policies aim to foster a digital economy that drives growth, enhances productivity and efficiency, and elevates the standard of living for citizens.

Cambodia, with its youthful population and burgeoning tech-savvy workforce, stands poised to capitalize on the opportunities presented by the digital economy. Prime Minister Hun Manet, speaking at an international forum in China, welcomed collaboration from both public and private sectors to explore Cambodia’s potential in the digital arena.

These initiatives align with Cambodia’s aspirations to attain high-middle-income status by 2030 and ultimately become a high-income country by 2050.

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Angkor Times
Angkor TimesExperienced
Asked: November 8, 2023In:

Prime Minister Envisions Preah Sihanouk as Cambodia’s Premier Logistics Hub, Driving Economic Growth Prime Minister Hun Manet unveiled the Royal Government of Cambodia’s ambitious plans to transform the coastal province of Preah Sihanouk into the nation’s foremost logistics hub during a ...Read more

Prime Minister Envisions Preah Sihanouk as Cambodia’s Premier Logistics Hub, Driving Economic Growth

Prime Minister Hun Manet unveiled the Royal Government of Cambodia’s ambitious plans to transform the coastal province of Preah Sihanouk into the nation’s foremost logistics hub during a gathering with garment workers in the Prey Nob district of Preah Sihanouk. The Prime Minister emphasized that the government has already set in motion a comprehensive master plan for the province’s development.

In this endeavor, the Ministry of Public Works and Transport (MPWT) has been tasked with the pivotal role of enhancing railway and deep-seaport infrastructure to facilitate the efficient movement of goods. Prime Minister Hun Manet underscored the pivotal role that port and railway infrastructure development will play in propelling Cambodia’s rapid socio-economic expansion.

He articulated, “The initial phase of the deep-sea port expansion will significantly enhance the flow of goods within Cambodia and to and from the country. This will render cross-border shipments through Cambodia’s deep-sea port far more cost-effective.”

The successful completion of the first phase of the deep-water port expansion is projected to streamline cargo container movement, reducing shipping costs from the current $400 to $500 per container to a mere $200. The Sihanoukville Autonomous Port Terminal’s initial phase boasts a length of 350 meters and a depth of 14.5 meters and is being constructed with a loan exceeding $200 million from Japan.

Furthermore, the Prime Minister urged MPWT to investigate the feasibility of upgrading railway lines to achieve a maximum speed of 80 kilometers per hour, up from the current 50 kilometers per hour. He explained, “I have advised MPWT to explore ways to reduce land transportation costs. The completion of this railway project will significantly enhance our capacity to transport goods.”

Emphasizing the government’s unwavering commitment to infrastructure development, the Prime Minister assured, “The Cambodian government will persist in building infrastructure, as it serves to diminish transportation expenses and invigorate the economy.”

At present, Cambodia boasts two railway lines, with one connecting Phnom Penh to Sihanoukville and the other linking Phnom Penh to Poipet in Banteay Meanchey province, where it shares a border with Thailand. The Royal Railway, a subsidiary of the conglomerate Royal Group, manages the country’s railway system. In early 2023, MPWT, in collaboration with Chinese companies, presented the results of a study on the Phnom Penh-Poipet railway project, encompassing a total length of 382 kilometers.

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Cambodia's economic growthCambodian railway systemCargo container movementCoastal province developmentCross-border shipmentsDeep seaport infrastructureDeep-sea port expansionEfficient goods movementInfrastructure developmentLand transportation costsMaster plan for developmentMinistry of Public Works and TransportMPWTPhnom Penh-Poipet railway projectPort and railway developmentPreah Sihanouk logistics hubPrime Minister Hun ManetRailway infrastructure upgradeShipping cost reductionSihanoukville Autonomous Port TerminalSocio-economic expansion
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Angkor Times
Angkor TimesExperienced
Asked: November 3, 2023In:

How Cambodia’s Public Debt Has Contributed to Economic Development through Infrastructure Growth During a gathering with garment workers in Takmao city, Kandal province, Prime Minister Hun Manet emphasized that Cambodia’s public debt has played a vital role in advancing the country’s ...Read more

How Cambodia’s Public Debt Has Contributed to Economic Development through Infrastructure Growth

During a gathering with garment workers in Takmao city, Kandal province, Prime Minister Hun Manet emphasized that Cambodia’s public debt has played a vital role in advancing the country’s economic development. He stated that public debt in Cambodia has been a driving force behind economic growth, primarily through the construction of essential physical infrastructure, which has subsequently contributed to the nation’s overall economic progress.

How Cambodia's Public Debt Has Contributed to Economic Development through Infrastructure Growth
How Cambodia’s Public Debt Has Contributed to Economic Development through Infrastructure Growth

The Prime Minister stressed the responsible and deliberate manner in which the country borrows funds for the common good, ensuring that they are invested in public assets for the benefit of the nation. He reiterated that this statement was made in response to unfounded criticisms regarding Cambodia’s level of public debt.

As of the end of the first half of the year, Cambodia’s public debt amounted to $10.72 billion, as reported by the Ministry of Economy and Finance. Notably, the country’s public debt remained at a low-risk level.

The report revealed that the majority of the public debt, 64 percent, was acquired through borrowings from bilateral development partners, with the remaining 36 percent coming from multilateral development partners. A minimal portion, 0.43 percent, constituted public domestic debt.

China emerged as Cambodia’s principal concessional loan provider among bilateral partners, contributing $4.08 billion, which represented 38.2 percent of the total public external debt. Japan and Korea followed with $1.13 billion and $528 million, respectively. For multilateral loans, Cambodia’s borrowings from the Asian Development Bank reached $2.22 billion, while the World Bank provided $1.26 billion. Notably, these loans were highly concessional, with an average grant element of approximately 42 percent.

Despite challenges like the Covid-19 pandemic and other external factors, Cambodia’s public debt situation continued to be sustainable and low-risk, as affirmed by the Ministry of Economy and Finance.

Looking ahead to 2023, the government planned to raise $200 million through bond issuance, a move intended to generate direct revenue and ensure the efficiency and sustainability of debt management. In 2024, the Government of Cambodia is also preparing to raise $108 million through government bond issuance, with these funds earmarked for financing infrastructure expenses and servicing the principal and interest of previously issued bonds, as outlined in the Ministry of Economy and Finance’s draft national budget law for 2024.

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Bilateral development partnersBorrowed loansCambodia's public debtConcessional loansCovid-19 impacteconomic developmentGarment workersGovernment bond issuanceGrant elementInfrastructure growthKandal provinceLow-risk debtMultilateral development partnersNational budget law 2024Prime Minister Hun ManetPublic debt contributionPublic external debtPublic goods investmentSustainable debtTakmao city
Angkor Times
Angkor TimesExperienced
Asked: November 3, 2023In:

Cambodia, known as the “Kingdom of Wonders,” has long been a captivating destination for travelers worldwide. Its rich heritage, stunning temples, and warm hospitality have drawn tourists from all corners of the globe. Despite the concerns raised by various reports ...Read more

Cambodia, known as the “Kingdom of Wonders,” has long been a captivating destination for travelers worldwide. Its rich heritage, stunning temples, and warm hospitality have drawn tourists from all corners of the globe. Despite the concerns raised by various reports about security and criminal activities, Prime Minister Hun Manet assures Chinese tourists that Cambodia is safe to visit. In this comprehensive guide, we present ten compelling reasons why Chinese travelers should consider exploring the Kingdom of Cambodia.

Angkor Wat photo generated by AI
Angkor Wat photo generated by AI

Reason 1: Peaceful Coexistence

Prime Minister Manet emphasizes that Cambodia is a land of peace and serenity. While every nation experiences some degree of crime, the crimes or criminal activities do not define the entire country. Cambodia is an inherently peaceful nation, offering a safe and welcoming environment for Chinese tourists to explore.

Reason 2: Cultural Riches

Cambodia boasts a rich cultural heritage, with a history dating back thousands of years. The ancient temples of Angkor Wat, Ta Prohm, and Bayon are UNESCO World Heritage Sites and showcase the grandeur of Khmer architecture. Chinese tourists can immerse themselves in this extraordinary cultural experience.

Reason 3: Welcoming People

Visitors to Cambodia are consistently charmed by the warm and friendly nature of its people. The Cambodian locals are known for their hospitality and their ever-present smiles. Chinese tourists will find themselves welcomed with open arms and kind hearts throughout their journey.

Reason 4: Natural Beauty

Cambodia’s natural beauty is equally enchanting. From the lush landscapes of the Cardamom Mountains to the serene shores of the Gulf of Thailand, the country offers a diverse range of breathtaking sceneries. Chinese tourists can explore the pristine beaches, lush jungles, and tranquil waterways that make Cambodia a natural wonder.

Reason 5: Rich History

Cambodia’s history is a tapestry of complex stories and fascinating events. Visitors can delve into the kingdom’s past at numerous museums, historical sites, and cultural institutions. Understanding Cambodia’s history will provide Chinese tourists with a deeper appreciation of its unique culture and resilience.

Reason 6: Delectable Cuisine

Khmer cuisine is a hidden gem that deserves wider recognition. Chinese tourists can savor the flavors of Cambodia, which blend aromatic spices, fresh ingredients, and unique culinary techniques. Must-try dishes include Amok, Lok Lak, and Fish Curry, all of which offer a delightful culinary journey.

Reason 7: Affordable Travel

Cambodia is known for its affordability. Chinese tourists will find that their travel budget stretches far in this destination, allowing them to experience its wonders without breaking the bank. Affordable accommodation, dining, and transportation options are readily available.

Reason 8: Adventure and Exploration

Cambodia offers countless opportunities for adventure and exploration. Whether it’s trekking through the dense jungles, exploring hidden caves, or taking a boat ride on the Tonle Sap Lake, Chinese tourists can engage in exciting activities that will create lasting memories.

Reason 9: Vibrant Festivals

Cambodia’s cultural calendar is replete with vibrant festivals and celebrations. Chinese tourists can plan their visits to coincide with festivals such as Khmer New Year and Water Festival, where they can witness the lively traditions and customs of the local people.

Reason 10: Sustainable Tourism

The Cambodian government is committed to promoting sustainable tourism. The “China Ready” program aims to make the country an attractive destination for Chinese visitors. This initiative ensures that the necessary infrastructure, services, and security measures are in place to offer a memorable and safe experience for tourists.

Angkor Wat Photo from Top View, photo by AI
Angkor Wat Photo from Top View, photo by AI

Recenltly, Prime Minister Hun Manet’s assurance that Cambodia is a safe and peaceful destination for Chinese tourists is an invitation to explore the many wonders this nation has to offer. With its rich culture, warm hospitality, and remarkable landscapes, Cambodia promises an unforgettable journey. Chinese travelers should consider Cambodia as their next destination, a place where they can immerse themselves in history, nature, and culinary delights while enjoying the safety and serenity of the “Kingdom of Wonders.”

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