Phnom penh: The China Exim Bank and Funan Techo Coastal-Inland Waterways Company have officially signed an agreement worth nearly US$1 billion for the Funan Techo Integrated Water Resources Management Project. H.E. Sun Chanthol, Deputy Prime Minister and First Vice Chairman of the Council for the Development of Cambodia (CDC), witnessed the historic signing ceremony on September 9 in Xiamen, China.
According to Agence Kampuchea Presse, this landmark event occurred during the International Investment Cooperation Event under the theme 'Global Wisdom, Mutual Empowerment: International Investment and Cooperation Exchange.' The ceremony saw the participation of representatives from the Ministry of Economy and Finance, Funan Techo Coastal-Inland Waterways Co., Ltd., high-ranking dignitaries, and numerous international business leaders.
H.E. Deputy Prime Minister Sun Chanthol expressed deep gratitude to the leaders and governments of both Cambodia and China, China Exim Bank, National Development and Reform Commission (NDRC), China International Development Cooperation Agency (CIDCA), and all relevant parties for their cooperation in achieving this monumental milestone. He emphasized that the Funan Techo Integrated Water Resources Management Project is transformative for Cambodia, establishing a crucial inland waterway connection to the sea, reducing logistics costs, and enhancing competitiveness in the logistics sector. The initiative is expected to create a "new economic corridor" and act as a vibrant economic artery.
The project is anticipated to boost the development of industrial zones, logistics hubs, agricultural processing centres, satellite urban developments, and tourism along its route over the coming decades. H.E. Deputy Prime Minister also encouraged international business leaders to explore investment opportunities in Cambodia, underscoring the country's readiness to welcome, facilitate, and collaborate for sustainable success, thereby transforming connectivity into opportunity and investment into mutual growth.