Market Research Cambodia: Cambodia to request Japan for $800m skytrain investment

cambodia - japan

Market Research Cambodia – The Cambodian government has planned to request Japan to invest $800 million in a skytrain system project for the country’s capital Phnom Penh, according to Prime Minister Hun Sen said during his Tokyo visit in early August 2017.

Hun Sen said the skytrain will connect the capital to its international airport.

This move will be made to address the inadequate infrastructure in the one of world’s poorest country. Hun Sen claimed many Japanese investors are interested to invest in Cambodia.

During his Tokyo visit, Hun Sen and his counterpart Shinzo Abe will sign two agreements to strengthen bilateral ties between Cambodia and Japan. Market Research Cambodia

Trade activities between Cambodia and Japan was valued at $1.3 billion last year.

Although China still leads the investment in value in the country whose landscape spans low-lying plains Mekong Delta, Japan is the third-largest investor in Cambodia and an important trade partner.

Since 1992, Japan has also helped Cambodia and is a biggest donor, giving more than $2 billion in official development assistance.

No Japanese officials have made comments on the Hun Sen’s statement.

Cambodia’s neighboring country, Thailand, has three skytrain lines and an underground system in the capital Bangkok, a regional travel hub, with more planned. Market Research Cambodia

Japan gave Cambodia a $11.5 million Grant Aid to develop the National Maternal and Child Health Center in 2014. While, Sunrise Healthcare Service Co opened the first ever Japanese hospital in Cambodia with around $35 million investment. The Japanese hospital is fortified with state-of-the-art healthcare equipment and high-trained medical staffs.

Japanese support to Cambodia has went beyond efforts to improve economy and reduce poverty. Since 1993, the Japan International Cooperation Agency (JICA), responsible to coordinate Japan’s official development assistance to developing countries, has provided Cambodia with technical assistance and financial resources to improve public finance management, reform the legal and judicial system, and promote gender equality.

Cambodia has also asked its Japanese counterpart to provide assistance in order to lay the groundwork for electoral reforms.

During this time, Japan plays a vital role to maintain political stability in Cambodia. In the aftermath of fatal 1998 fighting in Phnom Penh, Japan helped broker a deal between the ruling Cambodian People’s Party and the FUNCINPEC party, paving the way for Prince Norodom Rannariddh and other opposition members to return to Cambodia to compete in the July 1998 election. Japan has been a voice-full supporter of political stability and peace in Cambodia, urging both sides to make peace after the 2013 election.

Source : marketresearchcambodia.com