China in Principle Agrees to Assist Cambodia in 6 Major Economic Areas
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China has pledged to assist Cambodia in six critical economic areas, including the development of green energy and infrastructure, modernization of technology, agriculture, and healthcare, and the acceleration of corridor projects. These agreements were reached during the recent visit of Hun Sen, President of the Senate of Cambodia, to China from December 2-4, 2024.
According to a press release from the General Secretariat of the Senate, China has committed to providing grants or concessional loans to support these projects. Cambodia, in turn, has decided to align its Pentagonal Strategy with China’s Belt and Road Initiative (BRI), a move set to strengthen economic ties between the two nations.
Under the “Diamond Cooperation” framework, both countries will collaborate on key areas, including the establishment of industrial and technology corridors, rice and fishery corridors, the promotion of green energy, interconnected infrastructure, and advancements in agriculture, healthcare, and technological innovation. Additionally, China plans to encourage more investors, tourists, and officials to visit Cambodia to deepen economic cooperation and foster mutual benefits for citizens.
The initiative also seeks to enhance collaboration in tourism, cultural exchanges, education, training, and youth delegation visits, with active support from relevant institutions.
During his three-day mission, Hun Sen held bilateral meetings with key Chinese leaders, including Xi Jinping, President of the People’s Republic of China; Wang Huning, Chairman of the Chinese People’s Political Consultative Conference; and Zhao Leji, Chairman of the Standing Committee of the National People’s Congress of China (SCNPC). Senior Cambodian officials, including Prak Sokhonn, Tea Banh, Sun Chanthol, and Hun Many, accompanied him during these discussions.
Both sides praised the strong bilateral relationship, emphasizing their comprehensive strategic partnership and shared vision for a high-quality future. Beijing reiterated its support for Cambodia’s development path, emphasizing mutual respect, collaboration, and a shared commitment to building a Cambodia-China community of shared future in the new era.
Dr. Seun Sam, a policy analyst at the Royal Academy of Cambodia, highlighted the strategic alignment between Cambodia’s Pentagonal Strategy and China’s BRI, describing it as a potential pathway for significant economic gains. He noted that the BRI spans over 142 countries across Asia and Europe, focusing on interconnected infrastructure investments.
“China offers loans to facilitate participation in the BRI, enabling countries to achieve unprecedented economic growth,” Dr. Sam explained. However, he emphasized the importance of efficient loan management, cautioning Cambodia to carefully consider repayment obligations to China.
This new phase of collaboration is set to strengthen bilateral ties, accelerate economic development, and create long-term benefits for both nations.
Source: Khmer Times
