Cambodia: Phnom Penh Autonomous Port maintains growth in H1

• Aug 24, 2022

Publicly-listed Phnom Penh Autonomous Port (PPAP) reported $20 in revenue for the first semester of 2022, up 35 per cent over the same period last year.

The growth in exports of garment products and agricultural products to the international market pushed the port’s revenue growth, said Hei Bavy, Chairman and CEO of the port.

“Phnom Penh Autonomous Port always adheres to the service of providing port services to customers with transparency and speed to respond effectively and with high confidence to the needs of customers,” he said.

The port handled throughput of containers at 250,000 twenty-foot equivalent units (TEU), an increase of 39.70 percent compared to the same period in 2021.

Phnom Penh Autonomous Port will continue to focus on modernising operations in accordance with standards and technology systems, increasing the competition with domestic and foreign ports, and bringing port services closer to consumers, he said.

For 2021, Phnom Penh Autonomous Port earned about $12 million.

In the first quarter of 2022, Phnom Penh Autonomous Port earned about $10 million, an increase of 17 percent compared to the same period in 2021.

The Ministry of Public Works and Transport just launched a Japan-financed Port Electronic Data Interchange (Port EDI) system at the two ports – Sihanoukville Autonomous Port (PAS) and Phnom Penh Autonomous Port (PPAP).

The system is aimed to improve effectiveness, efficiency, transparency and cost-saving.

There are about 6,000 foreign vessels entering and leaving sea and river ports annually in Cambodia, according to the figures of MPWT, adding that those vessels are required to go through manual and paper-based ship clearance formality procedures to enter and leave Cambodia, which was inefficient, time-consuming and port congestion.

Japanese Ambassador to Cambodia Masahiro Mikami said he expects that the Port EDI system will support fostering logistics system in Cambodia, increasing the number of goods by more usage of the ports and developing the domestic economy in the future, expanding the functions of PAS and PPAP to develop their competitiveness on the international market, which is really essential for smooth economic recovery after Covid-19 pandemic crisis.

The ambassador added that the joint statement points out that the two countries shall cooperate with each other at the maximum level to develop SHV port to become a major port for Cambodia and Mekong region and Japan has granted a $383.22 million loan to Cambodia to expand and modernise PAS through the exchange of notes signed by Prak Sokhonn, Minister of Foreign Affairs and International Cooperation, and Hayashi Yoshimasa, Foreign Minister of Japan early August this year.

Source: https://www.khmertimeskh.com/501137620/phnom-penh-autonomous-port-maintains-growth-in-h1/