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The construction industry is the largest steel consuming industry in Cambodia

The construction industry is the largest steel consuming industry in Cambodia
Jul 10, 2023 page view:24

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Construction, garment manufacturing, tourism and agriculture are the four key industries supporting Economy of Cambodia's economic growth. Among them, the industry with the largest steel consumption in Cambodia is the construction industry.

In recent years, the infrastructure construction in Cambodia has been rapidly advancing. Although there has been a slight slowdown, many major projects are still progressing according to plan. The Cambodian government believes that improving the logistics system and strengthening the construction of the transportation industry are crucial in the process of economic development. Cambodia is actively building roads. From 2005 to 2020, the total length of its roads more than doubled, reaching 64883 kilometers in 2020. In recent years, Cambodia's infrastructure construction funds come from investment related to the "the Belt and Road" initiative on the one hand, and from investment support related to the World Bank, the Asian Development Bank, Japan, South Korea, Thailand, Vietnam, etc. on the other hand.

At present, Politics of Cambodia is politically stable, has a large number of young labor, has signed several regional and subregional trade agreements, and has created favorable investment conditions. These conditions have increased Cambodia's attractiveness for foreign direct investment, thereby aiding the development of its steel and related industries.

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