Chinese enterprises, fully dedicated to the Belt and Road Initiative (BRI) have helped build a large number of roads, bridges and other signature infrastructure projects across Cambodia, bringing hope and improvement for the socio-economic development of the Southeast Asian country.

As some Western countries led by the US take a suspicious attitude and even seek to undermine good will from China when it comes to regional joint-development citing so-called issue of human rights and democracy, they are actually doing nothing but holding back Cambodia's development by slinging mud to the BRI, which is only to serve their own political needs, experts told the Global Times.

Dara Sakor integrated resort, a comprehensive investment and development pilot zone approved by the Cambodian government, is fully compliant with local laws and regulations and has made positive contribution to the socio-economic development of the country, a senior executive of Coastal City Development Group Co, the project developer, told the Global Times in a recent interview.

A spokesperson for the Chinese Embassy to Cambodia responded to the sanctions, condemning the US for imposing sanctions on a Chinese firm in Cambodia, saying that the US is violating the firm's legitimate rights and Cambodia's sovereignty.

The port and airport projects within the Dara Sakor integrated resort matches with local needs to improve people's livelihood, which will obviously enhance the country's logistics and transportation and promote the development of regional economy after completion, Xu said.

BRI projects in Cambodia, including the construction of the Phnom Penh-Sihanoukville expressway, the new Siem Reap international airport, the national stadium, and the Sihanoukville Special Economic Zone (SSEZ) among others, have provided tremendous benefits to Cambodia's economic development amid the COVID-19 pandemic, the Xinhua News Agency reported, citing a Cambodian government official last year.

Bright prospects

Closer trading ties, BRI, the Cambodia-China Free Trade Agreement (CCFTA) and the Regional Comprehensive Economic Partnership (RCEP) mega deal will together play a crucial role in encouraging more Chinese investment in Cambodia, experts and business representatives have claimed. Chinese investment in Cambodia increased significantly in 2021 despite the negative effect of the COVID-19 pandemic, which truly reflected Chinese investors' trust in Cambodia's business environment.

Cambodia attracted fixed-asset investment of $2.32 billion from China last year, up 67 percent from $1.39 billion year-on-year, according to a report from the Council for the Development of Cambodia. China remained the top foreign investor to the Southeast Asian nation, accounting for 53.4 percent of the total investment worth $4.35 billion in the kingdom approved last year, the report said.

The trade volume between Cambodia and China was valued at nearly $11.2 billion in 2021, up 38 percent from 2020, official data showed. "With the RCEP free trade agreement now coming into force and the favorable policies of the CCFTA, as well as Cambodia's new Law on Investment coming into effect, it will provide greater convenience and tax-free benefits for investors seeking opportunities in the kingdom," said the Coastal City executive.