On Tuesday 12th December 2023, at the Ministry of Economy and Finance (MEF), H.E. Meas Soksensan, Secretary of State, Ministry of Economy and Finance on behalf of H.E. Dr. Aun Pornmoniroth, Deputy Prime Minister, Minister of Economy and Finance, and Mr. Lavan Thiru, Executive Director, Infrastructure Asia (IA), signed the renewed Memorandum of Understanding (MOU) in order to extend mutual collaboration between the two parties in reference to the previously signed MOU in 2021.
On this signing occasion, H.E. Meas Soksensan mentioned that for political platform of the Seventh Legislature of the National Assembly, the Government of the Kingdom of Cambodia has launched "Pentagonal Strategy-Phase 1" which include Public-Private Partnership (PPP) mechanism as a contribution to Cambodia's public infrastructure development and improvement of public services. Meanwhile, the Secretary of State also stated that following promulgation of the Law on PPP on November 2021, the Royal Government further promulgated the Standard Operating Procedures (SOPs) on August 2022 for the development and management PPP projects. Based on this, the Ministry of Economy and Finance and IA will continue cooperation on fostering public investment projects though PPP mechanism to contribute to stimulating economic growth in Cambodia. To accomplish this, the Secretary of State proposed to relevant line ministries and institutions to prepare and submit public investment proposals with the potential to be implemented under PPP mechanism. Finally, H.E. Meas Soksensan thanked and highly evaluated the IA's involvement in current state in order to continue to provide support for Cambodia's public infrastructure development.
This MOU has its term of 2 (two) years which will promote and expand the scope of cooperation between both parties that focuses on increasing infrastructure development, identifying financial sources, and promoting the implementation of Cambodian infrastructure projects. The scope of the new MOU cooperation includes capacity building and project development, which focuses on key sectors such as clean water supply, solid waste management and contaminated water, renewal energy, carbon emissions reduction, transportation in city, ports, logistic and supply chains, and infrastructure technology, and so on.