Inauguration of ADB's New Cambodia Resident Mission – Masatsugu Asakawa

Opening remarks by Masatsugu Asakawa, President, Asian Development Bank, at the Inauguration of ADB’s New Cambodia Resident Mission, 12 June 2024, Phnom Penh, Cambodia

Introduction

Your Excellency Deputy Prime Minister Aun Pornmoniroth, distinguished ministers, honored guests, and friends:

Today marks a significant milestone as we gather to inaugurate the Asian Development Bank’s new resident mission in the heart of Phnom Penh. This occasion is not just a celebration of a new office, but a recognition of the deep bonds and shared development goals that ADB and Cambodia hold.

ADB's strong partnership with Cambodia

ADB’s partnership with Cambodia has been characterized by strong cooperation and mutual respect. Over the decades, ADB has supported Cambodia’s development. Our efforts have spanned multiple sectors, focusing on enhancing rural infrastructure, education, agriculture, and health services, all with the aim of improving the lives and livelihoods of Cambodia’s people.

New Country Partnership Strategy

The opening of our new resident mission coincides with the launch of ADB’s latest Cambodia Country Partnership Strategy for 2024–2028. This strategy is tailored to Cambodia’s unique needs and priorities. It emphasizes economic diversification, human capital development, and climate resilience, while advancing crosscutting priorities like governance, gender equality, digitalization, and regional cooperation and integration.

Support for growth and prosperity

As we face the future together, ADB remains dedicated to supporting Cambodia’s growth and prosperity. Our new office here in Phnom Penh will serve as a hub for our continued collaboration. It will ensure that ADB’s support is well-coordinated, effective, and aligned with Cambodia’s development goals.

An important area of focus will be to enhance high-quality, climate-resilient infrastructure and foster a dynamic business environment. This will help Cambodia attract significant private sector investments that catalyze growth and ensure long-term prosperity.

Conclusion

This new resident mission symbolizes ADB’s ongoing commitment to a partnership with Cambodia that deeply values inclusivity, resilience, and sustainable progress. I am confident that together we will continue to achieve strong development outcomes that benefit the people of Cambodia. Thank you, Your Excellency, and all those present today, for your enduring partnership and support.