“Cambodia Vision 2050 places people and sustainability at the centre of development”
The global economy is undergoing profound transformation. Shifting supply chains, the drive for cleaner and smarter growth, rapid digitalisation and the urgency of sustainability are reshaping how nations develop and compete. These challenges are deeply interconnected, and no country, regardless of size or strength, can address them in isolation. Progress now depends on cooperation, collaboration and a shared vision for the future. In his keynote address at the Belt and Road Summit 2025, Sun Chanthol, Deputy Prime Minister and First Vice Chairman of the Council for the Development of Cambodia, underscored how Cambodia’s development journey demonstrates the power of partnerships in transforming a nation. Edited excerpts…
From conflict to confidence
Only a generation ago, Cambodia was emerging from decades of conflict. Today, it is one of Southeast Asia’s (SEA) fastest growing economies, recording average growth of over 7 per cent in recent decades. The country is moving steadily towards upper-middle-income status by 2030 and high-income status by 2050. This transformation rests on several pillars: peace and political stability, openness to global trade and investment, visionary leadership, and above all, collaboration with international partners to build the infrastructure and institutions that power long-term prosperity.
Belt and Road Initiative: A development lifeline
Cambodia has cooperated closely with the Belt and Road Initiative (BRI) introduced by the President of China, which has played a crucial role in the transformation. The country views it as a lifeline for socio-economic development. It has provided resources and partnerships needed to build the foundation for infrastructure-led growth. Roads, bridges, airports, power plants and canals built under this framework have emerged as engines of opportunity that support productivity, trade and livelihoods.
Landmark infrastructure projects
Over the past decade, Cambodia has achieved remarkable progress with support from China under the BRI framework. Together, more than 3,000 km of national roads and 16 major bridges have been built. These projects connect farmers to markets, link rural communities to cities, reduce travel times that once hindered trade mobility and transform daily life for millions of Cambodians. Such achievements are not abstract statistics. They mean fresher produce reaching cities faster, children accessing schools more easily and businesses operating with lower logistics costs.
Beyond roads and bridges, several landmark projects highlight the scale and impact of Cambodia’s infrastructure push. The Phnom Penh-Sihanoukville Expressway, the country’s first modern expressway, has reduced travel time from five hours to two. It has boosted tourism, reduced logistics costs and strengthened Cambodia’s role as a regional trade hub. The Siem Reap-Angkor International Airport, another major BRI project, ranks among the most modern in the region. It serves as a vital gateway for millions of tourists, driving economic growth, job creation and cultural exchange.
Most recently, Cambodia began operations at the new Techo International Airport (TIA), marking a major milestone in national development. This modern Category 4F airport replaces the Phnom Penh International Airport, which closed on September 8, 2025. TIA will handle 13 million passengers per annum (mppa) in the first phase, scaling up to 30 mppa and eventually 50 mppa. Beyond capacity, the airport reflects Cambodia’s commitment to sustainability, incorporating green design and advanced systems. The project exemplifies global collaboration. It was developed by the Overseas Cambodian Investment Corporation, designed by the renowned British firm Foster + Partners, built by leading Chinese and European construction companies, equipped with advanced systems from global suppliers and operated by Cambodia Airports, a subsidiary of France’s VINCI Airports.
Looking ahead, the Funan Techo Canal promises to become a transformative project for Cambodia’s economy. Once completed, it will connect the Mekong river system directly to the sea, shortening shipping routes, reducing costs and opening new trade horizons. This represents a historic step for Cambodia’s long-term economic future.
In 2023, Cambodia launched its first Comprehensive Intermodal Transport and Logistics Master Plan (2023-33). The plan outlines 174 projects requiring investments of $36.6 billion, covering roads, railways, ports, airports and logistics hubs. Investors and financial institutions are encouraged to explore the many opportunities embedded in this ambitious road map.
Such infrastructure is not merely about concrete and steel; it is about enabling economic efficiency, resilience and integration into regional and global value chains.
Strong economic momentum
Cambodia’s economic fundamentals remain robust. In 2024, the economy expanded by 6 per cent, driven by manufacturing, agriculture, construction and services. Medium-term growth is expected to average 6 per cent, reflecting investor confidence and strong trade performance.
Investment approvals underscore this momentum. In 2024, the Council for the Development of Cambodia approved 414 projects worth $6.9 billion, a 40 per cent increase from 2023. In the first eight months of the following year, 491 projects worth $7.2 billion were approved. Around 600 projects are expected in 2025, generating more than 400,000 jobs. Exports reached $26.6 billion in 2024, up 13.6 per cent year on year, supported by diversified markets. Cambodia’s pro-business environment, allowing 100 per cent foreign ownership, competitive tax incentives, a dollarised economy and fast-track approvals, attracts investors.
Vision 2050
Cambodia Vision 2050 places people and sustainability at the centre of development. The country is diversifying into high-value industries including electronics, automotive components, renewable energy and digital services. With 60 per cent of the population under the age of 35, heavy investments are being made in education, skills and innovation, alongside strengthening governance and transparency to ensure fair and inclusive growth. Green development is central to this vision. Currently, around 60 per cent of Cambodia’s power generation comes from renewable energy, with a target of 70 per cent by 2030. Investments in clean energy, smart logistics and digital connectivity aim to build a competitive and sustainable economy.
Cambodia is also committed to regional co-operation. As ASEAN’s coordinating country for ASEAN-US dialogue, it actively promotes connectivity and resilience. Through ASEAN and the Regional Comprehensive Economic Partnership (RCEP), Cambodia supports trade integration and supply-chain diversification.
ASEAN centrality together with the Belt and Road initiative, offers a powerful pathway to shared prosperity for the 600 million people in ASEAN and the 2.3 billion across the wider region. Hong Kong, as a global financial and professional services hub, can play a vital role in turning these visions into bankable, high-impact projects.
Looking ahead
Cambodia’s journey from a war-torn past to a resilient present and an ambitious future proves that collaboration can change nations and shape a shared future. Looking ahead, partnerships must deliver not only profit, but also peace; not only growth, but also inclusion; not only connectivity, but also sustainability. By investing together in people, sustainability and innovation, Cambodia can build resilience and prosperity for generations to come.
