01/09/2023 (China/ Cambodia) - China's Belt and Road Initiative (BRI) played a crucial role in developing Cambodia's infrastructure and connectivity, pivotal for trade and investment, according to a Cambodian scholar. Kin Phea, director-general of Cambodia's International Relations Institute, noted China's support for mega-projects like roads, bridges, hydropower plants, and economic zones in Cambodia under the BRI.
Phea highlighted how these projects greatly enhanced connectivity, secured electricity supply, and reduced logistics costs. Notably, the Sihanoukville Special Economic Zone generated thousands of jobs and boosted exports.
Trade and investment between Cambodia and China surged over the last decade due to BRI cooperation, along with the RCEP and Cambodia-China FTA. Phea projected these efforts could lead Cambodia to become an upper middle-income country by 2030 and a high-income country by 2050.
Launched in 2013, the BRI aimed to connect Asia, Europe, and Africa via trade and infrastructure networks. Over 150 countries and 30 international organizations joined the BRI framework over the past decade.
Phea emphasized the BRI's role in fostering connectivity, cooperation, and a new global order for peace, security, and prosperity. The initiative's vision aligned with a more open and sustainable economic globalization.