Prime Minister Hun Manet shakes hands with Chinese Premier Li Qiang in Vientiane, Laos, where they are attending the 44th and 45th ASEAN Summits. China Daily
The Chinese government has pledged over $42 million in aid to boost infrastructure development in the Kingdom, a contribution that analysts view as significant, especially as China experiences slower-than-hoped-for economic growth.
The announcement of the 300 million yuan (over $42 million) aid was made during a bilateral meeting between Cambodian Prime Minister Hun Manet and Chinese Premier Li Qiang in Vientiane, Laos, where both attended the 44th and 45th ASEAN Summits and related meetings from October 9-11.
“Regarding infrastructure development, the Chinese side continues to support Cambodia in its infrastructure development by providing an additional grant of 300 million yuan to help Cambodia achieve its plans,” announced Manet, via social media.
Li Qiang confirmed that China will continue to support Cambodia’s development path based on its specific circumstances, and that his government will encourage more Chinese investors to increase investments in the Kingdom.
He added that China will work even more closely with Cambodia to build a master plan for the rice and fish corridors, as well as industrial and technology corridors, with a strong commitment to increasing imports of the Kingdom’s agricultural products into Chinese markets.
Manet expressed his gratitude to the Chinese government and people for their continued support in the socio-economic development of Cambodia and for the provision of the grants.
According to Manet’s social media, China and Cambodia have maintained close relations, reaching the level of comprehensive strategic partners, and described as "ironclad friends" who are building a community of shared future. Both sides also agreed to continue promoting cooperation in key sectors, including clean energy, infrastructure connectivity and people-to-people exchanges.
Chinese ambassador to Cambodia Wang Wenbin also took to social media to compliment the close relationship between the two sides.
“China and Cambodia are iron-clad friends who reach out to each other and share the same future. China will continue to firmly support Cambodia in pursuing a development path suited to its national conditions and safeguarding national sovereignty and strategic independence,” he wrote.
The World Bank has predicted slower than-expected economic growth for China this year and in 2025. Growth in 2024 is forecast at around 4.8%, but it is expected to decline to 4.3% in 2025.
Yang Peou, secretary-general of the Royal Academy of Cambodia, noted that the Covid-19 pandemic and various global conflicts have contributed to a reduction in aid to Cambodia from several friendly countries and development partners. However, China continues to provide assistance to Cambodia, even as it faces reduced economic growth.
He explained that the aid is offered because Cambodia is an ironclad friend and a key partner in building the China-Cambodia community of shared destiny. Partners in this shared future community must be equally strong; one side cannot be strong while the other is weak.
Peou added that this aid underscores the spirit of ironclad friendship, where both sides support each other regardless of the circumstances.
“Geopolitical issues are the most important factor. China can remain strong in the ASEAN region only if it has strong partners, and Cambodia is a key one. Therefore, China needs to build a shared future community to strengthen its geopolitical position,” he continued.
