YCH Group and WorldBridge Group to collaborate on Phnom Penh Logistics Complex

SINGAPORE-BASED integrated logistics and supply-chain provider YCH Group has signed a memorandum of understanding (MOU) with Cambodia-based WorldBridge Group, to collaborate on developing a smart logistics infrastructure facility in Phnom Penh.

The MOU for the Phnom Penh Logistics Complex (PPLC), signed in the Cambodian capital on May 3, follows a framework agreement signed in March last year between Cambodia’s Ministry of Public Works and Transport (MPWT) and YCH for the development of the complex.

The signing ceremony was held in the presence of Sun Chanthol, Senior Minister and Minister of Public Works and Transport of Cambodia; Teo Lay Cheng, Singapore’s ambassador to Cambodia; and other officials from Cambodia.

Infrastructure Asia – set up by Enterprise Singapore and the Monetary Authority of Singapore in 2018 to support infrastructure financing and development in the region – has been the main facilitator between the Royal Government of Cambodia and YCH.

Cambodia has announced its vision to be a sub-regional logistics hub in its Intermodal Transport Connectivity and Logistics System Master Plan, and the PPLC will be a vital node in Cambodia’s connectivity with the broader intra-regional trade flows, particularly among the Mekong countries in the Asean region, said YCH and WorldBridge in a joint statement.

The PPLC aims to strengthen Cambodia’s standing as a regional logistics hub, with logistics as a key bedrock to boost Cambodia’s goal to be a high-income country by 2050.

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Under the MOU, YCH and WorldBridge will co-develop PPLC under the scope of work in the framework agreement as well as explore business models.

“When completed, PPLC will emerge as a state-of-the-art smart logistics infrastructure facility, hosting adjacent industrial facilities to leverage this new logistics capability. PPLC will deploy latest logistics technologies to enhance Cambodia’s economic growth and improve the resiliency and visibility of regional logistics by managing the throughput for logistics and supply chain activities for the Kingdom. It will also be a talent enablement hub to develop future logistics and supply chain talents,” said YCH and WorldBridge.

The partnership proliferates the mandates of the Asean Business Advisory Council’s Smart Growth Connect initiative, as well as the Asean Smart Logistics Network, representing the second project under both initiatives.