Cambodia to Invest US$14.48 Billion in Public Investment Projects from 2020-2022
AKP Phnom Penh, August 14, 2019 —
The Cambodian Ministry of Planning is proposing a three-year public investment plan to maintain the country’s strong economic growth.
The Kingdom will spend in total US$14.48 billion in 608 public investment projects from 2020 to 2022, according to H.E. Ek Tha, Council of Ministers Spokesman, and Vice-Chairman of the Royal Government Spokesperson Unit.
“The proposed plan is expected to be approved by the Royal Government of Cambodia soon in the coming cabinet meeting,” he underlined after attending an inter-ministerial meeting today.
According to the data released by the Ministry of Planning, the Royal Government has planned to propose 608 projects, of which 171 projects, which are being implemented, needs an additional fund of more than US$7.53 billion and the rest, 437 projects, the national strategic development plan, needs more than US$6.95 billion.
The already pledged budget is US$8.47 billion (national budget of US$529.8 million and development partners’ contribution of more than US$7.94 billion), pointed out the same source, adding that an additional fund of US$6 billion is required.
The proposed public investment plan covers four major sectors: the economic sector needs US$943.9 million; financial sector, more than US$4.73 billion; physical infrastructure, US$7.79 billion; and services and related sector, over US$1.01 billion.
For 2020, Cambodia will spend US$4.55 billion, then in 2021 some US$5.1 billion, and in 2022 US$4.82 billion for public investment.
By Khan Sophirom