The Council for the Development of Cambodia gave green light to a massive investment project of $1,300 million worth logistics and multi-purpose port development project in Kampot province, one of southern Cambodia’s coastal provinces.
Located in Bokor city, Kampot province, the investment is registered under the name of the Kampot Logistics and Port Company Limited.
The investment only demonstrates confidence of investors in Cambodia’s macroeconomic, political and social stability as the country is recovering from the Covid-19 pandemic, but also to enhance the logistics sector, particularly the value- added production chain with market competitiveness to be promoted, said key insiders.
Sin Chanthy, president of the Cambodia Logistics Association, said on Thursday that more port and logistic investments will help the logistics sector in Cambodia as well as boost the export and import of goods, especially help Cambodia reduce shipping costs that can compete with neighboring countries.
He added that the construction of a logistics center in Kampot is a good option, and Cambodia also needs this center in some provinces.
“If we have a logistics center in Kampot, it would be more important and help drive the sector to be more efficient because today this kind of investment at the border areas, in the form of special economic zones. And we need more of the logistics centers,” Chanthy said.
Once operational, the logistic and multi-purpose port will generate jobs of 600.
Lim Heng, vice president of the Cambodia Chamber of Commerce, echoed the same sentiment.
The facilities to support activities of import and export are in need, Heng said.
“The new investment on the port is made as activities of imports and exports are projected to increase due to the implementation of the free trade agreement with China and South Korea in upcoming soon, as well as other free trade deals,” Heng said.
If Cambodia has sufficient facilities of cold warehouses along the border gates, the export of agricultural products will be increasing with standard –sanitary and phytosanitary requirements, Heng added.’
Recently, Aeon Mall (Cambodia) Co Ltd has announced a business plan of expanding its business to the logistic market with a plan to establish Cambodia’s first multifunctional logistics center in Sihanoukville in 2023.
Named Logi Plus Co., Ltd, a subsidiary of Aeon Mall (Cambodia) Co Ltd, bonded warehouse will operate a multifunctional logistics center equipped with the necessary licenses required for cross-border E-commerce businesses including bonded warehouse functions, as well as customs clearance agency and fulfillment center functions.
This article was first published in Khmer Times. All contents and images are copyright to their respective owners and sources.
