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Phnom Penh public works secretary unveiled the US$50B transport/logistics plan in a meeting with her Thai counterpart
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The two sides signed an MOU boosting logistics cooperation to help cut costs
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The memorandum aims for “cooperation in the spirit of mutual understanding and goodwill” that will enhance closer ties in logistics
Cambodia is drafting a masterplan for US$50-billion transport/logistics projects aimed at boosting its economy growth, according to reports in Phnom Penh.
Cambodian Secretary of State for Ministry of Public Works and Transport Koy Sodany disclosed the 10-year multipurpose transport connectivity and logistics infrastructure development project to Secretary General Danucha Pichayanan of the National Economic and Social Development Council of Thailand during their meeting on July 19 in Phnom Penh, the reports said.
Sodany was quoted as saying the Cambodia masterplan for transport/logistics includes hard and soft infrastructure development projects such as roads, railways, expressways, waterways, maritime roads, ports, airports and logistics facilities that need some US$50 billion financing over a 10-year period.
Sodany and Pichayanan signed a Memorandum of Understanding (MOU) to establish a framework of cooperation to boost their logistics relationship, which should help the Cambodian transport sector cut costs and time to attract more investment.
The MOU aims for “cooperation in the spirit of mutual understanding and goodwill that will enhance closer ties in the field of logistics” between the two Association of Southeast Asian Nations members.
Under the MOU, both parties will work on the areas of logistics policy and legal framework; logistics cost per gross domestic product and logistics performance index; and strengthening institutional and stakeholder capacity in logistics, the reports said.
They also discussed preparations and implementation of policy on logistics sector development in their respective countries.
These included the launch of transport infrastructure development policy with logistics prioritized as the most necessary sector for socio-economic development.
