Phnom Penh (FN), Dec. 12 – Cambodian Ministry of Economy and Finance (MEF) and the Foreign, Commonwealth and Development Office (FCDO) of the United Kingdom (UK) signed a Memorandum of Understanding (MoU) to promote infrastructure development, identify and secure sources of funding, and facilitate the implementation of infrastructure projects under the Public-Private Partnerships (PPP) mechanism in Cambodia.

The MoU was signed between Secretary of State for the Ministry of Economy Meas Soksensan and British Ambassador to Cambodia Dominic Williams on 8 December 2023 at the Ministry.

Through this MOU, the British Government will provide technical support and promote investment opportunities in Cambodia through the British Investment Partnerships toolkit, including the mobilisation of private sector’s resources, vocational expertise, and connections to broaden regional and international infrastructure financing platforms, to meet Cambodia's infrastructure needs.

During the signing ceremony, Meas Soksensan highlighted the importance of the Royal Government of Cambodia’s new Pentagon Strategy-Phase I, which focuses on five key pillars namely Growth, Employment, Equity, Efficiency, and Sustainability, in contribution to Cambodia's public infrastructure development and realizing the Cambodia Vision 2050.

On the occasion, the MEF, in collaboration with the FCDO, is committed to deepening the longstanding cooperation between the two nations. This MOU will promote deep collaboration between MEF and FCDO in developing green infrastructures in Cambodia through the PPP mechanism, which will focus on innovative environmental considerations such as renewable energy, energy-efficiency, and circularity elements, while leveraging Cambodia’s competitive advantage, creating new value-added proposition, attracting foreign investors.

The MEF and FCDO will also continue to engage in other potential sectors for long-term infrastructure cooperation between the UK and Cambodia.
=FRESH NEWS