US$12-13 Billion Needed for Public Investment for Next Decade

Cambodia needs between US$12 and 13 billion for infrastructure development for the next decade, said here yesterday Acting Minister of Economy and Finance H.E. Vongsey Vissoth while presiding over the Stakeholders’ Consultation Workshop on Draft Sub-Decree on the Overall Guiding Principles of Public Investment Management.

So far, the budget for general public investment in Cambodia has depended totally on foreign financing, but for the last couple of years, one third of the financing is from the royal government’s budget, and two thirds are foreign support, of which 85 percent is loan and 15 percent is donation, he added.

This reflected the gradual growth of national budget year in year out, underlined the acting minister.

As such, he said, Cambodia needs a comprehensive, effective, efficient, transparent and accountable public investment management system in order to ensure the potential and fruitful results of public investment projects.

According to H.E. Vongsey Vissoth, the draft sub-decree aims to set forth overall guiding principles and procedures to identify, study, prepare, select and carry out all the public investment projects and to link the three-year rolling public investment programme with short- and medium-term budget planning.

Source: Agency Kampuchea Press