Bolstered by the Belt and Road Initiative, Cambodia’s Takeoff has Become an Unstoppable Trend!
In the blueprint of the Belt and Road Initiative, Cambodia and China have reached a new stage in cooperation, bringing about economic growth and practical benefits for the people of the two countries.
—Prime Minister Hun Sen
The Belt and Road Initiative is a state-level cooperation initiative put forward by China, aimed to develop its economic cooperation with the countries along the Belt and Road, jointly create a community of shared interests featuring win-win mutual benefit, and share the results of prosperity.
Located in the center of the ASEAN and accessible to the whole Southeast Asia region, Cambodia enjoys strategic excellence in geographical location. Since the launch of the Belt and Road Initiative, China and Cambodia have orderly unfolded cooperation in all aspects, greatly driving further improvement in a win-win, mutually beneficial bilateral relationship.
Among the five development directions planned by China for the Belt and Road Initiative, three of the development directions are located in the hub of Cambodia.
The Belt and Road Initiative fits Cambodia’s national development plan perfectly, and wins the extensive support of Cambodian’s government and all sectors of society. At the Belt and Road Initiative International Cooperation Summit Forum, Cambodia’s Prime Minister Hun Sen said that China’s Belt and Road Initiative is a great vision beneficial to both the Chinese people and the local region and the world. The Cambodian government is ready to participate in all cooperation activities brought by the Belt and Road Initiative to jointly promote prosperity.
China’s huge investment in Cambodia is partially driven by the Belt and Road Initiative, and more importantly, pried by the ever-growing Cambodian’s economy. Maintaining an economic growth of 7% for 8 consecutive years, Cambodia is one of the fastest economies in ASEAN and in Southeast Asia. Good economic development conditions have continuously increased Cambodia’s investment appeal.
Since China’s launch of the Belt and Road Initiative, Cambodia’s tourism industry has been developing at a faster speed. Statistics show that Cambodia received 6.2 million foreign tourist arrivals in 2018, up by 11% from the 5.6 million tourist arrivals in 2017. Among them, Chinese tourist arrivals ranked first at 1.9 million, marking a year-on-year growth of 70%.
This has presented a valuable development opportunity for Cambodia’s tourism industry. The large number of Chinese tourists with huge demand for consumption has brought a new growth point for Cambodia’s economy. An increasing number of Cambodian youth have started to learn Chinese to cope with the short supply of tour guides speaking Chinese.
At the recent Sharing and Unity Banquet for Overseas Chinese in Cambodia, Cambodian Prime Minister Hun Sen emphasized the inseparable community of life between China and Cambodia, and reiterated his commitment to serve as Prime Minister for another 10 years. In the future, Cambodia will spare no effort to advance multi-sector cooperation under the Belt and Road Initiative, and provide all Chinese in Cambodia with sound policies!
This message has undoubtedly boosted the confidence of Chinese investors in Cambodia! As pointed out by noted entrepreneur, Zhou Hongyi, there is an opponent that you can never win—the trend! Bolstered by the Belt and Road Initiative, Cambodia’s takeoff has become an unstoppable trend! Come and hop on this train of wealth now!