Investment

Belt and Road projects enhance Cambodia's economic resilience

Seetao 2022-05-18 11:34
  • The Cambodian Communist Party's Belt and Road project has made important contributions to the Cambodian economy
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The Belt and Road refers to the Silk Road Economic Belt and the 21st Century Maritime Silk Road. It was launched by China in 2013 to build a network of trade and infrastructure connecting Asia, Europe and Africa, and to go beyond the ancient Silk Road trade routes. On May 16, 2022, a Cambodian scholar said that the Belt and Road cooperation project has brought tangible benefits to Cambodia and the world.

"During the COVID-19 pandemic, I think the Belt and Road Initiative has played a very important role in helping countries mitigate the economic impact of the epidemic," Joseph Mathews, a senior professor at Berthay International University in Phnom Penh, told Seedao.com.

He said that the Belt and Road Initiative remains the driving force for countries in the region and the world to continue to expand cooperation for the cause of peace, security, prosperity and sustainable development. Among them, projects such as the Belt and Road Hydropower Station, Phnom Penh-Sihanoukville Expressway, Siem Reap International Airport, National Stadium, and Sihanoukville Special Economic Zone have brought huge benefits to Cambodia’s economic development.

"The Sihanoukville SEZ has made an important contribution to increasing the country's exports, and the hydropower plants provide a steady stream of electricity, which is essential to ensure the normal functioning of people's daily lives and businesses," Matthews said.

The development of infrastructure such as roads, railways, airports, ports, hydropower stations, special economic zones or industrial zones under the Belt and Road Initiative is crucial to reducing logistics costs, improving economic competitiveness, and diversifying sources of growth.

Southeast Asian countries such as Laos, Thailand, Indonesia and Malaysia are also greatly benefiting from the future, the China-Laos high-speed railway project, linking Kunming in China's Yunnan province with Vientiane, the capital of Laos, will benefit not only the two countries, but also other Southeast Asian countries.

"Since its establishment in 2013, the future has become a new engine of global economic growth, it is important to help drive the hard and soft infrastructure of regional and global cooperation, economy, trade, investment opportunities, cultural exchanges, people who connect people," Ma Hughes said.

Matthews said that China has always shared knowledge, technology and wealth with developing countries around the world. Matthews introduced that the Belt and Road Initiative is supported by the Asian Infrastructure Investment Bank (AIIB), connecting the world as a community with a shared future for mankind, and China's development achievements will always be shared with the world. Editor/He Yuting

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