Cambodia signs 8 deals with China at BRF, including $1.7 billion canal project

Attending the Belt and Road Forum, Cambodian Prime Minister Hun Manet witnessed the signing of eight Memorandums of Understanding with China, bringing the total number of agreements between the two countries to 23 since mid-September this year, including the $1.7 billion Funan Techo Canal project.

Cambodian Prime Minister Hun Manet shakes hands with Chinese Premier Li Qiang at the signing ceremony of the agreements on October 17, 2023. (Source: CamboJA.News)

During his second visit to China and attendance at the Belt and Road Forum (BRF), Cambodian Prime Minister Hun Manet witnessed the signing of eight Memorandums of Understanding (MoUs), bringing the total number of agreements between the two countries to 23 since mid-September this year.

Among the new agreements signed between the two sides is the framework agreement on the Funan Techo Canal project. This agreement will allow the China Road and Bridge Corporation (CRBC) to conduct in-depth studies on all aspects of the project within eight months.

The Funan Techo Canal is expected to be 180km long and will pass through the provinces of Kandal, Takeo, Kampot and Kep in Cambodia. The project, which was approved by the Cambodian government in May, is estimated to cost around US$1.7 billion and take four years to complete. It is the first logistics project to connect the Mekong River in Cambodia to the sea, aiming to expand Cambodia's maritime transport potential.

Cambodian Deputy Prime Minister and Chairman of the Inter-Ministerial Committee for Research and Implementation of the Tonle Bassac Waterway Transport and Logistics Project - Mr. Sun Chanthol said that this project is an important step forward in Cambodia's transportation sector.

The Cambodian Ministry of Public Works and Transport studied the project in two phases, a 14-month preliminary study and a 12-month feasibility study.

The project will help Cambodia reduce transportation time and distance, create a commercial area and multiple ports for logistics development, and expand agricultural , irrigation, aquaculture, tourism and livestock development areas for 1.6 million people living along the canal.

Former Cambodian government spokesman Phay Siphan said the waterway would reduce the shipping distance by more than 69 km from Phnom Penh autonomous port to Sihanoukville autonomous port via Vietnam's Cai Mep port, as well as 135 km from Phnom Penh autonomous port to Kampot international port.

Over the past 10 years, many achievements have come from the cooperation within the framework between Cambodia and China, including the development of the Sihanoukville Special Economic Zone, the Phnom Penh-Sihanoukville Expressway, the new Siem Reap-Angkor International Airport, and the Phnom Penh-Bavet Expressway.

Cambodia economic analyst Ky Sereyvath told CamboJA that China's BRI investment in Cambodia over the past 10 years has seen significant infrastructure development and economic growth.

Source: https://baoquocte.vn/campuchia-ky-8-thoa-thuan-voi-trung-quoc-tai-brf-bao-gom-du-an-kenh-dao-17-ty-usd-246743.html