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Cambodia and Australia capitalise on public infrastructure investment
Secretary of State for Cambodia's Ministry of Economy and Finance, H.E. Meas Soksensan, delivers opening remarks during the public investment management study tour in Australia
Officials from the Royal Government of Cambodia have connected with counterparts in Melbourne and Sydney to exchange knowledge and build partnerships with Australia’s leading infrastructure governance, advisory and delivery agencies.
A total of 15 delegates participated in the study tour to Australia between 29 January and 5 February 2024, including representatives from the Ministry of Economy and Finance (MEF), Ministry of Industry, Science, Technology, and Innovation (MISTI) and Ministry of Public Works and Transport (MPWT), and Ministry of Commerce (MOC).
Organised by Australia’s Partnerships for Infrastructure (P4I) initiative, the tour aimed to share Australia’s experience in fostering a privately financed infrastructure market and raising private capital for major public infrastructure assets.
Australian Ambassador to Cambodia, Mr Justin Whyatt, said the tour comes at a time when Cambodia is ramping up infrastructure investment to drive inclusive growth and provide essential services to citizens.
“Cambodian officials were provided with an understanding of Australia’s approach to public investment management and built relationships with Australian government counterparts working in this area,” Ambassador Whyatt said.
“The Royal Government of Cambodia has made substantial progress in its public investment management reforms, and this tour will help solidify the knowledge transfer and partnerships we've built between our governments over the past several years.”
The study tour program included meetings with Australian government and private sector experts and visits to major infrastructure projects across Melbourne and Sydney.
In Melbourne, meetings were held with officials from Austrade, Victoria’s Department of Treasury and Finance, Infrastructure Victoria, and the Australian Water Association. Private sector connections were made with Plenary, IFM Investors, the Australian Retirement Fund, and Tetris Capital. Site visits were also arranged to Footscray Hospital, Port of Melbourne, Melbourne Convention and Exhibition Centre, and the Trility water recycling project adjacent to the Melbourne Cricket Ground.
In Sydney, delegates met with Transport for New South Wales and Infrastructure New South Wales. They also held meetings with the Global Infrastructure Hub, Pacific Partnerships and Capella Capital, with site visits to the new Sydney Metro station at Rouse Hill and Darling Harbour Live International Convention Centre.
The Cambodian delegation was led by MEF Secretary of State, H.E. Mr Meas Soksensan, who said the tour provided a comprehensive overview of how Australia is using public-private partnerships (PPPs) to support infrastructure investment in the country. It was also a great opportunity for Cambodia to present to Australian based capital firms the potential PPP projects in Cambodia.
“Public investment management is key to Cambodia’s infrastructure development and economic growth. We are in the process of exploring different options to better allocate and invest government funds in partnership with the private sector to develop quality infrastructure assets,” Soksensan said.
“We appreciate the opportunity to connect with public investment management experts in Victoria and NSW who shared their experience in developing, procuring, financing and delivering sustainable and inclusive infrastructure in each state.”
Through P4I, Australia is supporting Cambodia’s Public Investment Management System Reform Strategy 2019-2025 (PIMSRS). The PIMSRS guides a series of reforms in policy frameworks and institutional mechanisms intended to diversify funding and financing sources for major infrastructure delivery aligned with national priorities.
P4I’s PIMSRS support includes ongoing assistance to build the Royal Government of Cambodia’s capability and capacity to implement and manage PPP projects pursuant to the 2021 Law on PPPs. This study tour further informed implementation of the PIMSRS and built on lessons learned during public-private partnership workshops delivered by P4I in 2023 and continuing in 2024.
