A Korean Firm Interested In Investing In Cambodia’s Financial Sector

date_range 17-May-2024
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Phnom Penh, May 17, 2024 --SK Securities, a financial investment company based in the Republic of Korea, has expressed its confidence in the investment environment in Cambodia as well as its interest to invest in the Kingdom’s financial sector.The confidence and interest were highlighted by Mr. Woo Jong JEON, President/Co-CEO at SK Securities, while paying a courtesy call on Cambodian Prime Minister Samdech Moha Borvor Thipadei Hun Manet in Seoul this morning, during the latter’s official visit to the Republic of Korea from May 15 to 18.For his part, Samdech Thipadei Hun Manet welcomed the SK Securities’ intention to invest in the financial sector in Cambodia, saying that although the Cambodian market is still small, the Royal Government of Cambodia is promoting and modernising the financial and banking sector, and it is ready to provide support and coordination to companies wishing to invest in the area.For Green Climate project, Samdech Thipadei stressed that Cambodia is paying attention to the development of green technology by prioritising the production of clean electricity through the use of hydropower, solar energy and other renewable energy sources.At the same time, the Cambodian Premier encouraged SK Securities to seek opportunities in cooperation with relevant institutions in various fields in Cambodia.

Cambodia And Georgia To Deepen Political And Economic Cooperations

date_range 17-May-2024
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His Excellency KHUON Phon Rattanak, Secretary of State of the Ministry of Foreign Affairs and International Cooperation of the Kingdom of Cambodia, visited Georgia on 15-16 May 2024. During his stay in Tbilisi, he paid a courtesy call on His Excellency Ilia Darchiashvili, Minister of Foreign Affairs of Georgia.His Excellency KHUON Phon Rattanak and Georgian Foreign Minister highly valued the two countries' bilateral relations and expressed their commitments to strengthening the relations of friendship and enhancing collaboration in the areas of common interests.While staying in Tbilisi, His Excellency Secretary of State co-chaired the First Session of Bilateral Consultations between the two Foreign Ministries with His Excellency Alexander Khvtisiashvili, Deputy Minister of Foreign Affairs of Georgia, on 16 May 2024.Both sides emphasized the importance of this Bilateral Consultations mechanism and the future high-level interactions which will pave the way to further strengthening and expanding the close ties and manifold cooperative sector, especially in trade and economic exchanges between Cambodia and Georgia.

Cambodia, United Arab Emirates Agree To Accelerate Implementation Of Comprehensive Economic Partnership Agreement

date_range 16-May-2024
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Cambodian Deputy Prime Minister and Minister of Foreign Affairs, H.E Sok Chendasophea and the United Arab Emirates Ambassador to Cambodia, H.E Obaid Saeed Obaid BintareshAldhaheri, based in Bangkok, Thailand, agreed on the importance of the Cambodia- United Arab Emirates Comprehensive Economic Partnership Agreement, to deepen bilateral cooperation, on May 13th.The agreement was reached during a meeting between the Cambodian Foreign Minister and the United Arab Emirates Ambassador to Cambodia.The two sides also discussed ways to accelerate the implementation of the CEPA, which was signed in June 2023, and stressed that it would open up more markets for goods and services, increase investment flows and create jobs, straitening cooperation in various fields and mutual benefit.Both sides expressed their appreciation for the long-standing friendship and strong cooperation between Cambodia and the United Arab Emirates since the establishment of diplomatic relations in 1994, and reaffirmed their commitment to further strengthen Further bilateral relations and provide mutual support in the international arena for the mutual benefit of both countries.The two sides also exchanged views on enhancing cooperation between the two countries in the fields of trade, investment and tourism.

Cambodia And UAE To Expedite The Implementation Of The Comprehensive Economic Partnership Agreement

date_range 15-May-2024
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His Excellency SOK Chenda Sophea, Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation, and His Excellency Obaid Saeed Obaid Bintaresh Ald-haheri, Ambassador of the United Arab Emirates to Cambodia with Residence in Bangkok, concurred on the importance of the Cambodia-UAE Comprehensive Economic Partnership Agreement (CEPA) to deepen bilateral cooperation during a courtesy call by the latter on 13 May 2024. The two sides also discussed ways to speed up the implementation of the agreement signed in June 2023, underlining that it would expand markets for goods and services, increase investments, create jobs, deepen cooperation in various sectors, and enrich mutual benefits.His Excellency the Deputy Prime Minister and His Excellency the Ambassador expressed satisfaction with the long-lasting friendship and robust cooperation between Cambodia and the United Arab Emirates since the establishment of diplomatic relations in 1994. They reiterated their commitments to further enhancing bilateral ties and extending mutu-al support in international fora for the shared interests of both nations.His Excellency the Deputy Prime Minister and His Excellency the Ambassador also exchanged views on enhancing trade, investment and tourism cooperation.

ARDB Hosts 47th ADFIAP Annual Meetings

date_range 15-May-2024
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The 47th Association of Development Financing Institutions (DFIs) in Asia and the Pacific (ADFIAP) annual Meetings kicked off in Phnom Penh this morning, outlining the important of green agricultural practices, and role of financial institutions in agricultural sustainable development.The three-day event is being hosted by the state-run Agricultural and Rural Development Bank (ARDB) at Sofitel Phnom Penh Phokeethra Held under the theme “DFIs’ Role in Sustainable Financing Ecosystem: Cultivating a Climate-Smart and Sustainable Future,” with participation from 90 institutions from 41 countries of ADFIAP members and stakeholders.H.E. Kao Thach, Director General of ARDB, said in his opening remarks that that hosting the ADFIAP annual meetings will be beneficial to the nation, promoting Cambodia’s role on the international stage.“The meeting is to enhance cooperation and strengthen partnerships between development financing institutions in the Asia-Pacific region, providing an opportunity for Cambodia to share experiences and perspectives on the implementation of its special financing programme,” H.E. Kao Thach, who is also the Vice Chairman of the ADFIAP’s Board of Directors, said.The meetings will be run with panel discussions related to sustainable agricultural development with key speakers from various backgrounds in agriculture, government, and development partners.ADFIAP was established in 1976 in the form of a non-governmental organisation advising the Economic and Social Council of the United Nations, with a permanent secretariat in Makati, Manila, the Philippines. It currently has 90-member development financing institutions from 40 countries in Asia.ADFIAP’s mission is to promote sustainable development through the strengthening of institutions and financial functions for development, capacity building of members, and advocacy for financial innovation for development.The ARDB of Cambodia has been a member of ADFIAP since 2005. ARDB has been actively involved in implementing the Cambodian government’s policy of providing special financing to support all actors in the agricultural, and agro-industrial and socio-economic development chain.

Cambodia, Canada Laud Bilateral Trade And Investment Cooperation

date_range 15-May-2024
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Phnom Penh, May 15, 2024 --Cambodia and Canada have lauded and been committed to promoting their bilateral cooperation in trade and investment sectors, and booting regional connectivity as well as the formulation of ASEAN-Canada free trade agreement.The commitment was made during a meeting between H.E. Sun Chanthol, Deputy Prime Minister and Fist Vice President of the Council for the Development of Cambodia (CDC), and H.E. Ms. Ping M. Kitnikone, newly appointed Ambassador of Canada to Cambodia, at the CDC headquarters here early this week.On the occasion, H.E. Sun Chanthol underscored the Royal Government of Cambodia (RGC)’s vision to become a high-income country in 2050 with the requirement of strengthening human resources, and expanding foreign direction investment in all domains, especially industry such as automobile, electronics, spare parts and food processing to name a few to diversify industry, reinforce skills, and create added value for people.The CDC vice president also mentioned about the RGC’s plans being implemented, including the provision of vocational training to some 1.5-million Cambodian youths, and the CDC’s mission to attract potential companies all around the world to come to invest in Cambodia.He also took the opportunity to thank Canada for her contribution to Cambodia’s socio-economic development so far.For her part, H.E. Ms. Ping M. Kitnikone spoke highly of peace, stability and development of Cambodia, as well as the good bilateral cooperation between both nations, particularly the active business and investment from Canada in Cambodia such as ABA Bank, a subsidiary of National Bank of Canada.

Cambodia’s Exports Jump 15 Percent In First 4 Months

date_range 10-May-2024
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Phnom Penh, May 10, 2024 --Cambodia exported a total of US$8,005 million worth of goods in the first four months of this year, up 15.2 percent from US$7,606 million recorded in the same period last year, showed the data from the General Department of Customs and Excise on Friday.The Kingdom’s imports rose by 9.3 percent to US$8,664 million, read the report.According to the same source, the bilateral trade between Cambodia and its trade partners was amounted to US$16,670 million during the January-April period, a 12.1 percent year-on-year increase.The U.S. was the biggest market for Cambodia’s exports with a total of US$2,617 million, followed by Vietnam and China with US$1,713 million and US$486 million, respectively.H.E. Penn Sovicheat, Secretary of State and Spokesperson of the Ministry of Commerce, said that the implementation of the Cambodia-China Free Trade Agreement and the Regional Comprehensive Economic Partnership (RCEP) added momentum to the country’s export growth.“Despite the war crisis and weakening of the purchasing power, Cambodian orders remained high, with the volume of orders remaining unchanged, although there was a decline in some items, but an increase on other items,” he said.The markets in the RCEP members are huge for Cambodia’s products, underlined the spokesperson.

Asia Low Carbon Building Transition Project: Propelling Cambodia's Shift To Sustainable Buildings

date_range 10-May-2024
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Phnom Penh, May 09, 2024 --The Asia Low Carbon Buildings Transition (ALCBT) project was officially launched here on May 8, aiming to achieve a nationwide transition towards low carbon buildings, contributing significantly to the lower energy consumption and greenhouse gas emission reduction in building sector in Cambodia.According to a news release of the German Embassy in Phnom Penh, prior to the COVID-19 pandemic, Cambodia's economy experienced a transformation with an annual growth rate of 7 percent, which led to a boom in the building and construction industry. In 2019, buildings encompassing the residential, commercial, and public sectors accounted for an astounding 43 percent of the nation's total energy consumption. The electricity demand for all sectors is forecasted to increase 6 times at 66 TWh by 2040 without energy efficiency compared to baseline in 2020. In the National Energy Efficiency Policy 2022-2030 (NEEP), the government has set national targets of energy saving by 19 percent of total consumption, and 34 percent and 25 percent in residential and commercial buildings, respectively, by 2030.H.E. Say Samal, Deputy Prime Minister and Minister of Land Management, Urban Planning, and Construction acknowledged, "While Cambodia is relatively new to green building concepts, we recognise the opportunity for eco-friendly and energy-saving in building and construction sector, which could boost growth in the sector and contribute to Cambodia’s commitment to achieve carbon neutrality in 2050 under the Paris Agreement on Climate Change. Therefore, this project will be an instrumental in developing the Low Carbon Tool to support this vision."This five-year project, funded by the German Federal Ministry for Economic Affairs and Climate Action (BMWK) under the International Climate Initiative (IKI), aims to facilitate a nationwide transition to Low Carbon Buildings (LCBs) in Cambodia and four other Asian countries (India, Indonesia, Thailand, and Vietnam). Global Green Growth Institute (GGGI) is leading implementation of ALCBT project along with other consortium partners i.e. ASEAN Centre for Energy (ACE), Energy Efficiency Services Ltd. (EESL), and HEAT International. In Cambodia, the Ministry of Land Management, Urban Planning, and Construction is the government counterpart of the project."Cambodia's booming building sector, driven by stable economic growth, contributes significantly to electricity consumption and greenhouse gas emissions," stated H.E. Stefan Messerer, German Ambassador to Cambodia. "This IKI-funded project is a crucial step in helping Cambodia unlock the full potential of green buildings."Under the project, GGGI and other local partners aim to institutionalise low-carbon performance metrics, enhance industry stakeholder capacity, link building performance to financing options, and share best practices to promote project replication and scaling.Ms. Helena McLeod, Deputy Director-General of GGGI, said, "GGGI has been supporting Cambodia in its green growth journey. So far, we have supported the government for sustainable energy practices in the garment sector, electric mobility, waste management, as well as carbon financing. As for green building, the sector also offers a win-win situation for Cambodia. ALCBT project will help reduce energy consumption and greenhouse gas emissions by and create healthier and more comfortable living and working environments for Cambodians."The project aims to contribute to 1.68 million tCO2eq direct and indirect GHG emission reduction (combined for all project countries) while mobilising €140 (USD XY) million (or US$150 million) worth of investment. In Cambodia, the project will support two policy recommendation outputs (building code enhancement and targets o carbon emissions reduction) to be adopted by the government and eight private and public sector entities to incorporate ALCBT project tools and training programmes.

Cambodia Promotes Investment Potential And Opportunities In Japan

date_range 10-May-2024
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Phnom Penh, May 09, 2024 --Cambodia has promoted her investment potential and opportunities in Japan through a workshop to lure more Japanese investors to the country.Organised in Tokyo on May 8 by the Council for the Development of Cambodia (CDC) in collaboration with ASEAN-Japan Centre (AJC) and Japan External Trade Organisation (JETRO), the workshop was presided over by H.E. SUN Chanthol, Deputy Prime Minister and First Vice President of the CDC, accompanied by H.E. TUY Ry, Ambassador of Cambodia to Japan, with participation of some 150 representatives from foreign missions in Japan, Japan’s Ministry of Economy, Trade and Industry, Japan-Cambodia Friendship Parliamentary League, Japan Cambodia Association and private sector.On the occasion, H.E. SUN Chanthol highlighted Cambodia’s potential to be an investment hub such as political stability, positively stable macroeconomic situation, dynamic young workforce, Royal Government of Cambodia (RGC)’s tendency to support business growth, attractive and favourable investment scheme, intermodal infrastructure being developed interconnectedly, and more.The CDC vice president was optimistic that Japanese businessmen and investors would visit Cambodia to study business and investment opportunities in person, and bring back current investment environment in Cambodia to Japanese business community in a greater extent.Guest speakers from the private sector also joined in the discussion forum about investment potentials in new areas in Cambodia, by stressing the ease of doing business, diversification of investment activities, and RGC’s proactive policy support on renewable energy, green production chain, and digital economy that are in line with regional and global tendency.H.E. SUN Chanthol also chaired the launch of business matching meeting programme between Cambodia Oknha Association, Cambodia Chamber of Commerce, and Japan Cambodia Association, followed by an interview given to Nikkei.

Cambodia Promotes Investment Potential And Opportunities In Japan

date_range 10-May-2024
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Phnom Penh, May 09, 2024 --Cambodia has promoted her investment potential and opportunities in Japan through a workshop to lure more Japanese investors to the country.Organised in Tokyo on May 8 by the Council for the Development of Cambodia (CDC) in collaboration with ASEAN-Japan Centre (AJC) and Japan External Trade Organisation (JETRO), the workshop was presided over by H.E. SUN Chanthol, Deputy Prime Minister and First Vice President of the CDC, accompanied by H.E. TUY Ry, Ambassador of Cambodia to Japan, with participation of some 150 representatives from foreign missions in Japan, Japan’s Ministry of Economy, Trade and Industry, Japan-Cambodia Friendship Parliamentary League, Japan Cambodia Association and private sector.On the occasion, H.E. SUN Chanthol highlighted Cambodia’s potential to be an investment hub such as political stability, positively stable macroeconomic situation, dynamic young workforce, Royal Government of Cambodia (RGC)’s tendency to support business growth, attractive and favourable investment scheme, intermodal infrastructure being developed interconnectedly, and more.The CDC vice president was optimistic that Japanese businessmen and investors would visit Cambodia to study business and investment opportunities in person, and bring back current investment environment in Cambodia to Japanese business community in a greater extent.Guest speakers from the private sector also joined in the discussion forum about investment potentials in new areas in Cambodia, by stressing the ease of doing business, diversification of investment activities, and RGC’s proactive policy support on renewable energy, green production chain, and digital economy that are in line with regional and global tendency.H.E. SUN Chanthol also chaired the launch of business matching meeting programme between Cambodia Oknha Association, Cambodia Chamber of Commerce, and Japan Cambodia Association, followed by an interview given to Nikkei.

Asia Low Carbon Building Transition Project: Propelling Cambodia's Shift To Sustainable Buildings

date_range 09-May-2024
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Phnom Penh, May 09, 2024 --The Asia Low Carbon Buildings Transition (ALCBT) project was officially launched here on May 8, aiming to achieve a nationwide transition towards low carbon buildings, contributing significantly to the lower energy consumption and greenhouse gas emission reduction in building sector in Cambodia.According to a news release of the German Embassy in Phnom Penh, prior to the COVID-19 pandemic, Cambodia's economy experienced a transformation with an annual growth rate of 7 percent, which led to a boom in the building and construction industry. In 2019, buildings encompassing the residential, commercial, and public sectors accounted for an astounding 43 percent of the nation's total energy consumption. The electricity demand for all sectors is forecasted to increase 6 times at 66 TWh by 2040 without energy efficiency compared to baseline in 2020. In the National Energy Efficiency Policy 2022-2030 (NEEP), the government has set national targets of energy saving by 19 percent of total consumption, and 34 percent and 25 percent in residential and commercial buildings, respectively, by 2030.H.E. Say Samal, Deputy Prime Minister and Minister of Land Management, Urban Planning, and Construction acknowledged, "While Cambodia is relatively new to green building concepts, we recognise the opportunity for eco-friendly and energy-saving in building and construction sector, which could boost growth in the sector and contribute to Cambodia’s commitment to achieve carbon neutrality in 2050 under the Paris Agreement on Climate Change. Therefore, this project will be an instrumental in developing the Low Carbon Tool to support this vision."This five-year project, funded by the German Federal Ministry for Economic Affairs and Climate Action (BMWK) under the International Climate Initiative (IKI), aims to facilitate a nationwide transition to Low Carbon Buildings (LCBs) in Cambodia and four other Asian countries (India, Indonesia, Thailand, and Vietnam). Global Green Growth Institute (GGGI) is leading implementation of ALCBT project along with other consortium partners i.e. ASEAN Centre for Energy (ACE), Energy Efficiency Services Ltd. (EESL), and HEAT International. In Cambodia, the Ministry of Land Management, Urban Planning, and Construction is the government counterpart of the project."Cambodia's booming building sector, driven by stable economic growth, contributes significantly to electricity consumption and greenhouse gas emissions," stated H.E. Stefan Messerer, German Ambassador to Cambodia. "This IKI-funded project is a crucial step in helping Cambodia unlock the full potential of green buildings."Under the project, GGGI and other local partners aim to institutionalise low-carbon performance metrics, enhance industry stakeholder capacity, link building performance to financing options, and share best practices to promote project replication and scaling.Ms. Helena McLeod, Deputy Director-General of GGGI, said, "GGGI has been supporting Cambodia in its green growth journey. So far, we have supported the government for sustainable energy practices in the garment sector, electric mobility, waste management, as well as carbon financing. As for green building, the sector also offers a win-win situation for Cambodia. ALCBT project will help reduce energy consumption and greenhouse gas emissions by and create healthier and more comfortable living and working environments for Cambodians."The project aims to contribute to 1.68 million tCO2eq direct and indirect GHG emission reduction (combined for all project countries) while mobilising €140 (USD XY) million (or US$150 million) worth of investment. In Cambodia, the project will support two policy recommendation outputs (building code enhancement and targets o carbon emissions reduction) to be adopted by the government and eight private and public sector entities to incorporate ALCBT project tools and training programmes.

CDC And ASEAN-Japan Center Discuss Potential Bilateral Trade And Investment Cooperation

date_range 08-May-2024
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 Phnom Penh, May 08, 2024 --The Council for the Development of Cambodia (CDC) and ASEAN-Japan Centre (AJC) have discussed possible bilateral trade and investment opportunities and cooperation to attract more Japanese investors to Cambodia.The discussion was held between H.E. SUN Chanthol, Deputy Prime Minister and First Vice President of CDC, accompanied by H.E. Tuy Ry, Ambassador of Cambodia to Japan, and H.E. Kunihiko Hirabayashi, Secretary General of AJC, in Tokyo of Japan, on May 7.On the occasion, H.E. SUN Chanthol informed H.E. Kunihiko Hirabayashi about Cambodia’s investment environment which is open, attractive and easy for investment in all sectors as well as the Royal Government’s commitment to maintain political stability, macro-economic stability and supporting policies, aiming to transform Cambodia into a high-income economy by 2050.The CDC vice president also took the opportunity to brief the Japanese side about law condition, technical study, and environmental impact assessment of Funan Techo Canal, a historic project that link Cambodian river to the sea.For his part, H.E. Kunihiko Hirabayashi expressed AJC’s support to the future cooperation with Cambodia. He was convinced that the 7th-mandate Royal Government of Cambodia will attract more and more investment to the country.On the same day, H.E. SUN Chanthol also met separately with H.E. Hosaka Shin, Vice Minister of International Affairs at Ministry of Economy, Trade and Industry (METI), and H.E. Imamura Masahiro, President of the Japan-Cambodia Parliamentary Friendship Association, to exchange views on future cooperation between CDC and METI and between CDC and the Japan-Cambodia Parliamentary Friendship Association.H.E. SUN Chanthol requested the Japanese side to attract more Japanese investors to Cambodia through their feasibility study of investment environment with the expansion of production chain and supply chain in the Kingdom, as well as thanked the Government of Japan and her people for their support to the socio-economic development of Cambodia since the 1990s.H.E. SUN Chanthol and his delegation have been paying a three-day visit in Japan from May 7 to 9 to further encourage more Japanese investors to come to invest in Cambodia.

Japan, A Key Trading Partner Of Cambodia

date_range 06-May-2024
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Phnom Penh, May 06, 2024 --Cambodia has considered Japan one of her key trading partners for the national socio-economic development and encouraged more Japanese investment to the country.The remarks were made by H.E. LIM Lork Piseth, Secretary of State at the Ministry of Commerce, while presiding over late last week at Yoyogi Park, Tokyo the Opening Ceremony of the 8th Cambodia Festival 2024, organised by the Royal Embassy of Cambodia in Japan, in collaboration with the Cambodia Festival Committee, Khmer Community, Cambodian and Japanese students.On the occasion, H.E. LIM Lork Piseth shared information about the progress of current trade and economic growth, as well as the investment and tourism potential in Cambodia, and took the opportunity to encourage more Japanese investors and companies to consider investing in Cambodia after a large number of globally recognised Japanese companies opened their businesses in the country, such as Minebea, Aeon Mall, and most recently Toyota Tsusho Manufacturing Corporation (Cambodia).The Opening Ceremony was jointly presided over by H.E. TUY Ry, Ambassador of Cambodia to Japan, H.E. IMAMURA Masahiro, Member of the House of Representative and Chairperson of Japan-Cambodia Friendship Parliamentary Association and H.E. HOSAKA Yasushi, Parliamentary Vice-Minister of Foreign Affairs of Japan.The Cambodia Festival is held every year to promote Cambodian culture, arts, tourism, potential products, and food to the Japanese community and international guests. This year's event attracted more than 90 booths, including seven companies from Cambodia, to showcase and promote a wide range of Cambodian food and potential products.Besides, there were traditional Khmer dance performances by various art groups from the Cambodia’s Ministry of Culture and Fine Arts, the dance troupes performed by Cambodian boys and girls in Japan, contemporary music, traditional Khmer costumes modeled by the Cambodian Students’ Association in Japan, as well as Kun Khmer martial arts performances. The excitement around the Cambodia Festival attracted more than 30,000 visitors on the first day of the of the event.

CDC Committed To Becoming High-Level Consultant Institution For All Investors

date_range 03-May-2024
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Phnom Penh, May 03, 2024 --The Council for the Development of Cambodia (CDC) is committed to becoming a high-level consultant institution to all investors by providing them with key information about Cambodia so that they have sufficient and clear basis before deciding to invest in the Kingdom.The commitment was made by H.E. Sun Chanthol, Deputy Prime Minister and First Vice President of the CDC, while he was receiving a courtesy call from Mr. Paul Clements, Executive Chairperson of the International Business Chamber (IBC) of Cambodia, at the CDC headquarters here recently.According to H.E. Sun Chanthol, the CDC has been upgrading its qualified investment project (QIP) registration to ease investment registration of all investors in the country.On the occasion, the CDC vice president also briefed his guest about the Funan Techo Canal Project – a historical waterway transport project linking Cambodian river to the sea route – whose study had been thoroughly conducted by 48-member technical team and international consultants using international standards and technologies, including drones and satellite.H.E. Sun Chanthol reassured that the Funan Techo Canal Project provides no negative impact on Cambodian environment and that of neighbouring countries, but it would contribute to the reduction of greenhouse gas emissions into the atmosphere.For his part, Mr. Paul Clements informed H.E. Sun Chanthol about IBC's mission in Cambodia over the last three decades, and its active participation with the Royal Government of Cambodia (RGC), particularly in the Working Group D of the 19th Government-Private Sector Forum.The IBC chairperson also mentioned about the IBC's work direction and action plan such as creating opportunities for members of chambers of commerce in Cambodia, such as Cambodia Chamber of Commerce (CCC) and American Chamber of Commerce (AmCham) to discuss and share experience to attract more investment to the Kingdom.

Intellectual Property, A Key Tool To Promote Trade, New Businesses And FDI

date_range 02-May-2024
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Phnom Penh, May 02, 2024 --Intellectual property is an essential tool for promoting trade in goods and services, new businesses and micro, small and medium enterprises, and foreign direct investment (FDI) through value added, commercialisation, creation of source of finance, innovation promotion, and research and development through technology transfer.The remarks were made by H.E. Mrs. Cham Nimul, Minister of Commerce and Chair of the National Committee for Intellectual Property, while she and H.E. Hem Vanndy, Minister of Industry, Science, Technology & Innovation, were presiding over the World Intellectual Property Day 2024, at Hyatt Regency Phnom Penh on April 30.The commerce minister also requested all stakeholders to work together to prevent intellectual property infringement, which is an obstacle to innovation, and strongly hoped that the Intellectual Property Day 2024 will continue to cultivate a common spirit in promoting awareness raising campaigns, which is closely linked to the people’s lives and benefits all areas of society.For his part, H.E. Hem Vanndy spoke highly of the World Intellectual Property Day, saying that it serves as an important platform to raise awareness about intellectual property, technological advancement and innovation among the public, especially innovators, researchers, and students.At the end of the celebration, H.E. Mrs. Cham Nimul and H.E. Hem Vanndy presided over the launching ceremony of five intellectual property-related projects, including: 1) Inclusive Growth Project: Promoting Cambodian Entrepreneurs with Disabilities through Intellectual Property Education and Business Branding, (2) Project for Skill-based Learning and Mentoring for Design School, (3) Launch of IP Web Application, (4) Launch of Distance Learning Platform on Intellectual Property, and (5) Launch of Intellectual Property Analysis Programme for Business.This year’s celebration of the World Intellectual Property Day 2024 was held under the theme “IP and SDGs: Building our common future with innovation and creativity.”

Sihanoukville Autonomous Port To Be Transformed Into Regional Port And Logistics Hub

date_range 02-May-2024
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Phnom Penh, May 01, 2024 --The Royal Government of Cambodia has an ambition to develop Sihanoukville Autonomous Port in Preah Sihanouk province into not only a deep seaport in Cambodia, but also a regional port and logistics hub by 2050.The ambition was highlighted by Prime Minister Samdech Moha Borvor Thipadei Hun Manet at a get-together with civil servants, workers and employees at the Sihanoukville Autonomous Port this morning, on the occasion of the 138th anniversary of the International Labour Day (May 1) under the theme “One enterprise as One Peaceful Community”.The Premier added that the port sector is one of the priority sectors to which the Royal Government pays attention by increasing investment funds and mobilising financing to further develop the port infrastructure.Sihanoukville Autonomous Port is considered as a national economic gateway with character as a strategic entity in supporting international trade activities for economic growth in the past, at present and in the future, he said, stressing that this port not only increases revenue on the spot, but can also be a driving force for economic growth in Sihanoukville as well as the country’s whole coastal region.According to H.E. Peng Ponea, Minister of Public Works and Transport, the Sihanoukville Autonomous Port plans to further expand its capacity through the construction project of a new deep container terminal-phase 2 of 400 metres long and 16.5 metres deep, and the phase 3 of 430 metres long and 17.5 metres deep, along with supporting modern technical equipment.The phase 1 began in December 2023 under the presidency of Prime Minister Samdech Moha Borvor Thipadei Hun Manet and H.E. Ishibashi Rintaro, Parliamentary Vice Minister of Land, Infrastructure, Transport and Tourism of Japan.The construction project of the 350-metre-long-and-14.5-metres-deep container terminal-phase 1 will last 36 months and cost some US$243 million, an ODA loan from the Government of Japan.Once in operation, the new container terminal-phase 1 will be able to handle 93 percent of regional vessels, up from the current 18 percent, while the costs of sea freight will be reduced by US$200 per TEU, a similar cost to that of other countries in the region.

Cambodia, Türkiye To Increase Trade Exchange And Strengthen People-To-People Relations

date_range 30-Apr-2024
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Phnom Penh, April 29, 2024 --The Kingdom of Cambodia and the Republic of Türkiye have agreed to boost their bilateral trade exchange to US$1 billion in the future and the people-to-people relations through expansion of education cooperation and direct flights between the two nations.The remarks were made by H.E. Ms. Ülkü Kocaefe while paying here at the Senate Palace this morning a courtesy call on Samdech Akka Moha Sena Padei Techo Hun Sen, President of the Senate of Cambodia.The Turkish ambassador expressed her congratulations to Samdech Techo Hun Sen on his appointment as Senate President, hoping to see the relationship between the two countries’ parliament will be brought to a new level.In reply, Samdech Techo Hun Sen spoke highly of the relationship between Cambodia and Türkiye and was convinced that the goal of US$1-billion trade exchange will be achieved.Regarding direct flights between Türkiye and Cambodia, he continued, it would be possible for tourists from neighbouring Türkiye to use Türkiye as a starting point for their travel to Cambodia.Samdech Techo Hun Sen reaffirmed his commitment to further tighten the parliamentary relations between both countries, stressing that in this fifth legislature, the Senate of Cambodia will focus on foreign affairs.He took the opportunity to invite the president of the Turkish Parliament to attend an Inter-Parliamentary Forum on Tolerance and Peace and the 12th General Assembly of the International Conference of Asian Political Parties (ICAPP) to be hosted by Cambodia in November this year.Samdech Thipadei Prime Minister of Cambodia will chair the ICAPP General Assembly, and Samdech Techo Hun Sen will be invited to be the Honorary Chairman.The Senate President and H.E. Ambassador of Türkiye also discussed regional and international issues of common concern, especially the Russia-Ukraine war and the situation in the Middle East.Cambodia and Türkiye mark this year the 65th anniversary of the embellishment of their diplomatic ties.

Investors Encouraged To Invest In Cambodia-China Industrial Park

date_range 25-Apr-2024
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Phnom Penh, April 25, 2024 —Cambodia and China have organised bilateral trade and investment promotion meeting to boost investment in their Industrial Park.The event took place at Sokha Phnom Penh Hotel on April 24 under the presidency of H.E. SEANG Thay, Secretary of State at the Ministry of Commerce.According to the ministry, the purpose of this meeting is to promote the important projects of the Cambodia-China Industrial Park and attract the attention of Cambodian, Chinese, and foreign businessmen as well as investors to explore investment opportunities in the industrial park in both the Guangxi Zhuang Autonomous Region, the People's Republic of China, and the Kingdom of Cambodia.This event also featured presentations from guest speakers from the Ministry of Agriculture, Forestry and Fisheries (MAFF) and the Council for the Development of Cambodia (CDC).Leaders from the General Directorate of Trade Promotion, delegations of the Department of Commerce of the Guangxi Zhuang Autonomous Region, representatives and members of the Cambodian Chamber of Commerce, as well as Cambodian and Chinese investors and businessmen participating in the meeting.

Government To Allocate Over US$170 Million To Develop Health Centres

date_range 22-Apr-2024
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Phnom Penh, April 20, 2024 --The Royal Government of Cambodia has decided to allocate more than US$170 million to strengthen the capacity of health centres across the country.The commitment was highlighted by Prime Minister Samdech Moha Borvor Thipadei Hun Manet at the official inauguration of the Japan-funded Centre of Surgical Service of Siem Reap Provincial Referral Hospital in the provincial city this morning.Samdech Thipadei Hun Manet added that the Royal Government has set out a strategic plan to strengthen all health centres in the country by allocating more budget, modernising them, and increasing the number of heath staff with doctors on duty 24 hours a day.The health centres will also be equipped with ambulances to transport patients to referral hospitals or higher-level hospitals, he said.The Premier also underlined the importance of strengthening the regional hospitals to ensure the efficiency of treatment and reduce the burden of coming to Phnom Penh capital for medical treatment, especially to save the people’s lives in a timely manner.Samdech President Hun Manet advised all medical practitioners to provide health services to the people with professional ethics, without any bias, ensuring that no citizen is discriminated against for any reason.

Cambodia And China Highly Value The Strong Development Of Bilateral Relations In All Sectors

date_range 22-Apr-2024
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On 21 April 2024, His Excellency SOK Chenda Sophea, Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation, had a productive bilateral meeting with His Excellency WANG Yi, Member of the Political Bureau of the Communist Party of China Central Committee, Director of the Office of the Central Commission for Foreign Affairs and Minister of Foreign Affairs of the People’s Republic of China, during the latter’s official visit to Cambodia.Both sides highly valued the strong development of bilateral relations in all sectors under the Comprehensive Strategic Partnership of Cooperation and the building of a high-quality, high-level, and high-standard Cambodia-China Community with a Shared Future.The two sides agreed on the importance of frequent and active exchanges of visits and engagements between their respective leaders, which demonstrates the robust political trust and the iron-clad friendship between the two countries.Enhancement of the Diamond Cooperation Framework, people-to-people exchanges, and the joint development of “Industrial and Technological Corridor” and “Fish and Rice Corridor”, as well as the cooperation in the fields of infrastructure, energy, economy, and trade were among the topics discussed. In addition to the bilateral cooperation, the two Foreign Ministers also exchanged views on regional and international issues of common concerns.