Shanghai Hantang Shipping (SHS) Co Ltd, one of the leading players in the Chinese shipping sector, is mulling over establishing a dedicated shipbuilding facility in Cambodia.
The company’s interest was conveyed during a high-level meeting between Sun Chanthol, Deputy Prime Minister and First Vice-Chairman of the Council for the Development of Cambodia and top management of Shanghai Hantang Shipping Co Ltd led by Jason Fan, Chief Executive Officer (CEO) of SHS, at the company’s headquarters in Shanghai, on Friday.
SHS specialises in logistics and water transportation, ship construction, intermodal transportation systems and logistics.
Last December, a delegation from the SHS expressed interest in investing in Cambodia, particularly in the Funan Techo Canal project and its associated logistics systems.
Jason gave a presentation of the company’s plans to Chanthol to introduce multi-purpose vessels tailored for the Cambodian market, along with proposals for establishing a joint-stock company and a dedicated shipbuilding facility in the country.
The initiative emphasises SHS’s commitment to enhancing its investment portfolio in Cambodia’s burgeoning logistics and maritime sectors, Chinese media reported.
Chanthol extended an invitation to SHS CEO and his team to visit Cambodia. “The visit will foster a deeper understanding of Cambodia’s investment climate, thereby strengthening collaborations in shipping and logistics,” said a CDC statement.
The potential partnership marks an important step in deepening economic ties between China and Cambodia, paving the way for mutual growth in the maritime industry, the statement further said.
As both nations seek to enhance their economic cooperation, Shanghai Hantang Shipping’s ambitions could play a vital role in the development of Cambodia’s maritime infrastructure, the statement added.
Separately, Chanthol attended the Cambodia-China Cooperation Forum organised by the Global Logistics Alliance in Shanghai.
Speaking at the forum, the Deputy Prime Minister highlighted the positive factors that attract investments into the country including peace, political stability, macro-economic situations, dynamic young workforce, a government that extensively supports the private sector, investment laws, infrastructure development and a high-yielding geographic location.
“We welcome investments from across the world and I urge the companies in Shanghai to explore the great investment opportunities in the Kingdom.”
The Kingdom’s new law on water transportation, which came into effect last year provides a comprehensive framework for the management and development of waterway transportation alongside offering clear guidance for ships, port crews, ship owners or operators, shipyard facilities, waterway infrastructure, and other related activities within Cambodian territory.