10
Loading video...
By Sun Chanthol
Deputy Prime Minister of Cambodia
0
Share
Newsweek is a Trust Project member
See more of our trusted coverage when you search.Prefer Newsweek on Googleto see more of our trusted coverage when you search.
Cambodia, a nation once scarred by the Khmer Rouge's brutality and the repercussions of the Vietnam War, is now emerging as a beacon of economic growth and opportunity. This is good news for the United States, our most important trading partner.
Despite our challenging past, marked by the loss of over 2 million lives and lingering war debts, Cambodia has demonstrated great resilience and ingenuity. Under the leadership of our new Prime Minister, Hun Manet, a proud West Point graduate, we are poised to enter a new era of prosperity. This year, Gross Domestic Product is expected to grow by 6.2 percent, up from 5.3 percent last year. Our latest project—the Funan Techo Canal, a $1.7 billion infrastructure investment due to begin construction next month—is set to redefine Cambodia's economic and environmental landscape. As well as creating up to 50,000 jobs and attracting foreign direct investment, it will transform import and export trade in Asia, particularly benefiting our largest export partner, the United States. For U.S. businesses and investors, this presents a wealth of opportunities.
Revitalizing an ancient waterway first used by the Kingdom of Funan over 2,000 years ago, the Funan Techo Canal will reduce Cambodia's dependence on overland routes and foreign ports, lowering logistics costs, and bolstering Cambodia's role in global and regional markets. American companies will benefit greatly from more efficient and cost-effective transport routes.
Read More
Europe Is Terrified of J.D. Vance | Opinion5 min read
Today’s Colonialist Narrative Is Racist—and Clueless | Opinion8 min read
NATO Should Prepare for Chinese Intervention in European Wars | Opinion6 min read
...
Stretching 110 miles from our capital Phnom Penh to the shores of Kep province, the canal will usher in a new era of economic prosperity, sustainable development, and substantial job creation. New commercial zones along the waterway will attract both domestic and international investment. The new infrastructure will also boost tourism, and by offering better irrigation, increase agricultural productivity, benefiting Cambodia's agrarian society. Crucially, the strategic significance of the expanded waterway will attract more foreign investment into Cambodia, particularly in industries related to shipping, logistics, and manufacturing, which will take advantage of improved transport links.
Environmental and social responsibility are at the forefront of this project. The welfare of the Mekong River ecosystem, the livelihoods of local communities, and the balance of regional power dynamics are matters we approach with the utmost responsibility. Comprehensive studies undertaken by many local, as well as 48 international, experts ensure that the modernized waterway will respect the natural heritage of the Mekong River and comply with the 1995 Mekong River Agreement signed by Cambodia, Laos, Thailand, and Vietnam. Our commitment to regional cooperation and responsibility was underscored when we notified the Mekong River Commission of the project's details and study findings in August 2023.
This project exemplifies Cambodia's commitment to fostering stability and peace in Southeast Asia, aligning with American geopolitical interests in promoting stable and cooperative international relationships. Cambodia is a peace-loving nation committed to regional stability and shared prosperity. This commitment reassures global partners, including the United States, of Cambodia's dedication to maintaining regional stability.
The Funan Techo Canal will deliver vast social benefits, enhancing access to education and health care, improving food and water security, providing better transportation and logistics services for agriculture products, minimizing the risks of flood and drought, and delivering many other essential services for local populations. This expanded infrastructure is for every Cambodian, a collective endeavor that will ensure shared prosperity. For American investors, this model of inclusive development underscores how foreign investments can bring broad-based benefits, enhancing community welfare and stability.
This ambitious endeavor opens doors to economic and trade opportunities, and aligns with our values of sustainability, innovation, and global cooperation. I invite American businesses and investors to join us. By taking advantage of the significant benefits provided by the Funan Techo Canal, we can create a model of inclusive, sustainable development that benefits both Cambodia and its trading partners, including the United States. Together, we can build bridges of opportunity and shared prosperity, ensuring a brighter future for all.
H.E. Sun Chanthol is deputy prime minister of Cambodia and first vice-chairman of the Council for the Development of Cambodia.
The views expressed in this article are the writer's own.
View 0 Comments
Submit Correction
View Editorial & AI Guidelines