Cambodia has rapidly transformed its economy since the end of its civil war almost 25 years ago, but a slew of recently announced mega-infrastructure projects to be built mainly with Chinese money has raised the stakes – and more than a few eyebrows.
The big-ticket item is a $16 billion real estate development at Ream City on the south coast, to be built by Canopy Sands Development, a member of the Prince Holding Group, which is led by the Chinese developer Chen Zhi. The project is expected to be completed by 2028.
There’s also a $4 billion high-speed rail plan to modernize a 382-kilometer section of the link between Phnom Penh and Poipet on the Thai border. High-speed rail links are also planned from Phnom Penh to Bavet on the Vietnamese border and from Phnom Penh to Sihanoukville on the country’s coast.