Transportation costs in Cambodia may turn lower and supply chain management more efficient due to a proposed law to develop the logistics sector and make it competitive, safe, and efficient.
The draft law is in the inter-ministerial consultation stage and will facilitate the setting up of logistics complexes.
The World Bank is helping Cambodia develop a unified logistics performance measurement approach.
The World Bank is helping Cambodia develop a unified logistics performance measurement approach, in line with a common programme for the Association of Southeast Asian Nations (ASEAN) region, by liberalising its logistics market and modernising the infrastructure that serves all logistics operations in the country, a domestic media outlet reported citing a statement from the Cambodian government.
Meanwhile, to sustain Cambodia’s progress in expanding access to electricity and support the country’s next phase of energy development, sustainable growth and job creation, the World Bank recently approved a new Sustainable Energy Transition Project.
The project, financed by a $110-million credit from the World Bank’s International Development Association, along with a $5-million grant from the Energy Sector Management Assistance Programme (ESMAP), will help Cambodia to transition to green economy.
The investment will ultimately benefit electricity consumers, public institutions, industrial enterprises, renewable energy developers, service providers, and energy-efficiency equipment suppliers, creating more and better jobs in the sector, a press release from the World Bank noted.
Fibre2Fashion News Desk (DS)
