More Exports of Cambodian Agricultural Products to Japan Encouraged
Phnom Penh, September 27, 2023 --Japan has encouraged Cambodia to increase its exports of agricultural products to Japan, as the current exports are still low.The call was made by H.E. UENO Atsushi, Ambassador of Japan to Cambodia, in a roundtable discussion on Cambodia-Japan Relations, organised by the Cambodian Club of Journalists here in Phnom Penh on Sept. 26.H.E. UENO Atsushi emphasised that needful assistance for Cambodia's agricultural sector can be negotiated under the Official Development Assistance (ODA) to address the high transportation costs and trademark issues to boost exports.ODA has supported Cambodia in environmental and agricultural development through the construction of irrigation and transport infrastructure, said the Japanese ambassador.Japanese companies are also investing in Cambodia to process Cambodian pepper and cashew nuts for export to Japan.Japan supports the import of Cambodian agricultural products through both the state and private sectors.
EUROCHAM and AHK Vietnam join hands to increase German investment in Cambodia
Phnom Penh: The European Chamber of Commerce in Cambodia (EuroCham Cambodia) and AHK Vietnam will sign a Memorandum of Understanding at the ASEAN-Cambodia Business Summit on September 29 to commemorate the relationship that has been strengthened as six months have passed as both sides are committed to achieving common goals in the future.In May, the jurisdiction of the Vietnam AHK Working Group was extended to Myanmar, Cambodia, and Laos, and an AHK delegation, including its Chairman Marko Walde, visited the European Chamber ofCommerce in Cambodia in Phnom Penh to discuss the Cambodian market and find collaborative parts.Among the areas of cooperation mentioned in the Memorandum of Understanding, the two sides will share best practices and knowledge to attract more investment and trade opportunities between Germany and Cambodia. The goals set out in the memorandum of understanding also include investment support for Cambodia from German companies in Vietnam, Laos, and Myanmar.In addition to trade and investment, the MoU seeks to promote cooperation in supporting Cambodia's sustainable development, enhancing the skills of the Cambodian workforce, and providing business development services to companies. A working group representing both sides will be set up to work on a joint initiative by the European Chamber of Commerce in Cambodia to assist AHK Vietnam in arranging meetings with Cambodian authorities and other stakeholders.In establishing this partnership, AHK Vietnam has acquired a key ally in its mission to build stronger trade relations between Germany and Cambodia, a mission that the European Chamber of Commerce in Cambodia has been pursuing since the establishment of German Business Cambodia in 2021. Similarly, the European Chamber of Commerce in Cambodia will benefit from increased awareness of the Vietnamese market and the skills provided by AHK's knowledgeable staff and network of experts."We are pleased to strengthen the growing relationship between AHK and the European Chamber of Commerce in Cambodia through this Memorandum of Understanding," said AHK Representative in Vietnam, Myanmar, Cambodia and Laos. Over the past six months, our cooperation has grown stronger, and the signing of this Memorandum of Understanding is a milestone in our commitment to further promote business opportunities and investment.He said that by sharing the best practices and valuable knowledge, we aim to have a business environment that attracts increased investment and facilitates trade between Germany and Cambodia. Our goals also include supporting German companies in ASEAN to effectively invest in Cambodia, contributing to the growth and prosperity of the subregion."We can not act alone in ASEAN and it is important that we work with our neighbors to help us achieve our common goals," said Martin Brisson, CEO of EuroCham. This mutually beneficial memorandum of understanding will allow us to understand the complexities of the Vietnamese market and hopefully attract cross-border businesses to Cambodia. AHK has a strong presence in Vietnam for almost a decade, and we can work together to build a strong business relationship between German and Cambodian companies, with the Kingdom of Cambodia's economy continuing to diversify and grow.
Cambodia, Japan Boost Bilateral Tourism Cooperation
Phnom Penh, September 22, 2023 --Cambodia and Japan have boosted their bilateral tourism cooperation, urging for the resumption of All Nippon Airways (ANA)’s direct flights to Cambodia to facilitate the travel of tourists, businessmen and investors.The commitment was made during a meeting between Cambodian Minister of Tourism H.E. Sok Soken and Japanese Ambassador to Cambodia H.E Ueno Atsushi in Phnom Penh on Thursday.Both sides discussed opportunities and potentials for further strengthening and expanding cooperation in the tourism sector, especially in boosting the flow of Cambodian-Japanese tourists.They encouraged the resumption of direct flights by Tokyo-based ANA, which was paused during the Covid-19 spread.ANA has operated direct flights between the two countries since 2016 but closed its Phnom Penh office on April 1 with a plan to resume operations in September.During the pre-Covid 19 crisis, around 200,000 Japanese tourists visited Cambodia, and about 20,000 Cambodians visited Japan.Additionally, the two sides were committed to further strengthening tourism cooperation by promoting cultural and economic exchanges, building stronger people-to-people contacts and enhancing mutual trust between both nations.
Electricity Price Cut For Industrial And Agricultural Enterprises
Phnom Penh, September 21, 2023 --The Ministry of Mines and Energy has announced a reduction in electricity prices for industrial and agricultural enterprises for October to December.The ministry issued the notification on Sept. 20, suggesting applicable consumers to file for the reduction at their respective local electricity offices.The measure followed a recent instruction by Cambodian Prime Minister Samdech Moha Borvor Thipadei Hun Manet in order to encourage the production expansion of factories and agricultural enterprises, which will eventually create more jobs and income for the people.As guided by the notification, the electricity price reduction is applicable to all industrial and agricultural consumers connected to medium- and high-voltage networks across Cambodia.The reduction is applied for the amount of voltage consumed beyond the average of the past six months, April to September.A 10-percent price reduction, it added, is entitled to the electricity consumption from Mondays through Saturdays between 7 a.m. and 9 p.m.A 20-percent reduction is eligible for energy consumption from Mondays through Saturday between 9 p.m. and 7 a.m. and 24 hours on Sundays and public holidays.During the three-month price reduction period, the government will run an assessment of the measure.If it is found effective, the practice could be continued, and eligible consumers will be notified 30 days before the decision is made.The statement continued that this measure is not applicable for consumers who are government bodies, commercial institutions, or households.
FAO Says Cambodian Wholesale Rice Prices Stable Or Higher Last Month
Phnom Penh, September 20, 2023 --Wholesale rice prices in Cambodia were stable or rising last month despite surges in Thailand and Vietnam, the Food and Agricultural Organisation of the United Nations (FAO) said Wednesday.The FAO’s latest Food Monitoring and Analysis Bulletin said domestic prices of rice for most countries in East and South Asia rose in August — and were well above their year-earlier level.In Cambodia, "wholesale prices of rice were stable or increasing in August 2023,” the monthly bulletin said.“Prices increased by 11 percent in Battambang market, on concerns over the impact of dry weather conditions on ongoing 2023 main crops and by 10 percent in the capital, Phnom Penh, due to high transport cost,” it said.In Thailand and Vietnam, prices soared to levels “about 45 to 65 percent higher than in August 2022 and hitting muti-year highs, mostly influenced by India’s July ban on non-basmati white rice exports, exacerbated by seasonal upward pressure.”In Myanmar, prices of a widely consumed variety rose slightly from July. But they were up 120 percent from August last year “after sustained increases since the beginning of 2022, owing to tight availability from a below-average 2022 output, strong export demand, as well as conflict-related disruptions to markets.”
NBC to sell US dollars eight more time in the next four weeks to intervene in the exchange market
Phnom Penh: The National Bank of Cambodia will continue to intervene in the foreign exchange market by bidding for the US dollar eight more times in the next four weeks, of which twice a week. This is according to the press release of the National Bank of Cambodia on September 18, 2023.The National Bank of Cambodia (NBC) has noted that after four bids in the last two weeks, the riel exchange rate against the US dollar has fallen to market level. Meanwhile, looking at the fluctuation of the US dollar in international markets and the evolution of the current and future macroeconomic situation of Cambodia, the National Bank of Cambodia will continue to control the exchange rate pressure further.To this end, the National Bank of Cambodia will continue to intervene as necessary until the exchange rate is at an appropriate level, which will strengthen the purchasing power of the riel and contribute to the continued recovery of the Cambodian economy after the crisis. Covid 19.Interventions are scheduled twice a week (Wednesday and Friday) for the next four weeks. However, the National Bank of Cambodia did not specify the amount of the eight interventions.Please be informed that the National Bank of Cambodia has auctioned 4 US dollars for a total of 50 million US dollars from 6 to 15 September 2023, the strategy of intervention in the exchange market to maintain the value of the riel to maintain the purchasing power of the Cambodian people as the value of the US dollar has risen significantly in recent times against other currencies, including the Cambodian riel.
Cambodia, China Sign Protocol of Phytosanitary Requirements for Fresh Coconut Export
Phnom Penh, September 20, 2023 --Cambodia and China have recently signed a protocol of phytosanitary requirements that will make way for the export of fresh coconuts from Cambodia to China.The protocol was inked on Sept. 15 between the Ministry of Agriculture, Forestry and Fisheries (MAFF) and the General Administration of Customs of China.H.E. Ms. Im Rachana, MAFF’s Undersecretary of State and Spokesperson, on Sept. 20 said that the ministry’s General Department of Agriculture (GDA) has started to inform the owners of coconut plantations, aromatic coconut farming communities and the owners of fresh coconuts processing and packaging factories who wish to produce and process fresh coconuts for the Chinese market to apply for registration of their plantations and factories.“The ministry will work with farmers to ensure that they grow coconuts in accordance with the sanitary and phytosanitary standards set by the General Administration of Customs of China,” she added.List of fresh coconut plantations and processing and packaging plants will be sent to the Chinese side in early December 2023 for review and evaluation before reaching the formal export, the spokesperson underlined.Cambodia currently has 17,000 hectares of coconut plantations, of which 14,000 hectares are ready for harvest, yielding a total of 248,000 tonnes in 2022.
France Vows to Further Support Cambodia's Rural Development
Phnom Penh, September 19, 2023 --France has vowed to further boost the bilateral cooperation with Cambodia in all sectors, especially in rural development.The promise was made in a meeting between H.E. Chhay Rithisen, Minister of Rural Development, H.E. Jacques Pellet, Ambassador of France to Cambodia, and Mrs. Sandrine Boucher, the French Development Agency (AFD)'s Country Director for Cambodia here in Phnom Penh on Sept. 18.H.E. Jacques Pellet spoke highly of the good cooperation between the two countries, recalling that France has contributed to the development of physical infrastructure and education by providing scholarships to Cambodian students.0H.E. Chhay Rithisen expressed thanks to the Government of France for its cooperation and assistance to Cambodia through AFD.H.E. Minister underlined the new government's Pentagonal Strategy as well as the ministry's priority works focusing on the development of physical infrastructure and communications, improvement of people's living standard in rural communities, diversification of rural economic activities, and strengthening of administrative support services and general affairs.
Cambodia, Korea to Continue Boosting Digital and Investment Cooperation
Phnom Penh, September 13, 2023 --Cambodia and the Republic of Korea, through the Korea International Trade Association (KITA), have been committed to further boost their cooperation in the digital sector, trade exchange, and investment.The commitment was made during a working meeting here at Rosewood Phnom Penh this morning between H.E. Ms. Chring Botum Rangsay, Ambassador of Cambodia to the Republic of Korea, a KITA delegation, and H.E. Hem Vandy, Cambodian Minister of Industry, Science, Technology and Innovation.H.E. Hem Vandy hopes that the meeting will help the two countries expand opportunities towards a deeper industrial cooperation, which will strengthen their trade relations not only in manufacturing-based industries, but also in high-tech industry.According to Mr. Khat Chen, Commercial Attaché, in May 2023, KITA organised a business forum with the participation of 100 companies to study and discuss investment opportunities in Cambodia.KITA, which has more than 70,000 companies as members will continue to seek additional investment opportunities in Cambodia, he added.Yesterday, H.E. Ms. Chring Botum Rangsay and the KITA delegation led by its Vice President Mr. Jeong Marn-ki paid a visit to Preah Sihanouk coastal province to learn about its potential focusing on investment and trade sectors. They delegation met with the provincial administration and visited Sihanoukville Autonomous Port, Sihanoukville Special Economic Zone, and the Bay of Lights development area in Ream commune, Prey Nup district.
RCEP to Attract More Investments to Cambodia in Coming Years
Phnom Penh, September 13, 2023 --The Regional Comprehensive Economic Partnership (RCEP) will play a crucial role in attracting more foreign direct investments to Cambodia and contributes to a sustainable economic growth.The mega trade pact is a huge market for Cambodia’s products which contributes to ensuring sustainable economic growth in years to come, said H.E. Sok Siphana, Senior Minister in charge of International and Multi-lateral Trade and Economic Relations.RCEP is an agreement of great importance that has the potential to shape the future of trade in Cambodia and in the region, unlocking opportunities for growth and development, he said.“RCEP has helped in gaining market access to products made in Cambodia, attracting investors to inject investment in Cambodia to process and produce for domestic markets and export,” he underlined in a Lecture on the Regional Comprehensive Economic Partnership (RCEP) Agreement: Geo-Political and Geo-Economic Aspects, held at the Ministry of Information on Wednesday.Cambodia attracted 113 fixed-asset investment projects worth US$1.1 billion in the first half of 2023, creating some 122,000 new jobs, said a report of the Council for the Development of Cambodia.The mega-regional trade pact comprises 15 Asia-Pacific countries including the 10 ASEAN Member States – Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam, and their five trading partners, namely China, Japan, South Korea, Australia and New Zealand.Entered into force on Jan. 1, 2022, RCEP member countries have committed to eliminating tariffs on more than 90 percent of goods traded within the RCEP.The RCEP, covering 2.3 billion people, or 30 percent of the world's population, contributed US$26.2 trillion, about 30 percent of global GDP, and accounted for 28 percent of global trade in goods and services, and 32.5 percent of global foreign direct investment inflows.Cambodia’s exports to RCEP countries reached US$6.34 billion in 2022, a year-on-year increase of seven percent, according to a Ministry of Commerce’s report.
Toyota assembly plant in Cambodia to open next year
Toyota assembly plant in Cambodia to open next yearPhnom Penh: Toyota assembly plant with investment of more than 36 million US dollars in the Royal Phnom Penh Special Economic Zone is set to open production in The year 2024 is coming. This is according to Mr. Ino Asushi, Ambassador of Japan to Cambodia, speaking at the meeting of Samdech Akka Moha Sena Padei Techo Hun Sen, President of the People's Party. Cambodians on September 12, 2023.This is another new achievement in Cambodia, with a series of well-known car assembly plants in the world decided to create in Cambodia, including the Ford car assembly plant in Pursat province, is also busy assembling its vehicles to supply the market.The establishment of car assembly plants in Cambodia can reduce the import of cars to some extent, especially that it provides labor to the people of Cambodia, provide technical skills to many of Cambodia's human resources as well.In addition to investing in the Toyota car assembly plant, Japan has also invested in a number of projects in Cambodia, such as supermarkets, electronics factories, and real estate and the financial sector.
Cambodia-China Bilateral Trade Roses to US$8 Billion in Eight Months
Phnom Penh, September 13, 2023 --Bilateral trade between Cambodia and China reached more than US$8.09 billion in the first eight months of 2023, an increase of 1.15 percent over that of the previous year.A report of the General Department of Customs and Excise showed that Cambodia's exports to China was amounted to US$939 million, up 16.8 percent while its imports from China was valued at US$7.15 billion, inched down 0.6 percent compared to the same period last year.Cambodia's main products exported to China include clothing, footwear, other textile products, electronics, automobile parts, bicycles, milled rice, cassava, etc.Cambodia's imports are medicines and supplements, cigarettes, beer, mixed wines, soft drinks, beverages, sugar, cooking oil, groceries and so on.Samdech Moha Bovor Thipadei Hun Manet, Prime Minister of the Kingdom of Cambodia, will lead a Cambodian delegation to attend the 20th China-ASEAN Expo in China this week.Held in Nanning, southern China, the China-ASEAN Expo is an important forum for trade and investment between ASEAN member countries and China.
Japanese SMEs Interested in Investing in Cambodia’s Two Key Areas
Phnom Penh, September 12, 2023 --Japanese small and medium enterprises (SMEs) are interested in invested in two main sectors in Cambodia, visiting H.E. Fumiaki Takahashi, President of the Japan-Cambodia Association (JCA) told the Cambodia Prime Minister in a courtesy meeting here at the Peace Palace this afternoon.According to H.E. Fumiaki Takahashi, the two main areas are the production of finished products for export using Cambodian raw materials and modern Japanese technology, and vocational training focusing on hospitality services, auto mechanic, make-up, patient-elderly care services, and IT and digital skills.Samdech Moha Borvor Thipadei Hun Manet, Prime Minister of the Kingdom of Cambodia, welcomed the Japanese SMEs’ interest, urging the Japanese side to cooperate with Cambodian relevant parties and affirming the Royal Government of Cambodia’s readiness to coordinate, cooperate and support Japanese businesses through attractive and specific policies and incentives.H.E. Takahashi Fumiaki added he will lead a Japanese business delegation to visit Cambodia again in November and requested to pay a courtesy call on the Cambodian Premier. Samdech Thipadei Hun Manet responded positively to the request.
Disabled People Empowered to Run Waste Recycling Plant
Phnom Penh, September 12, 2023 --The Disability Development Services Programme (DDSP) in Cambodia has integrated and empowered people with disabilities to recycle solid waste into items for sale as an income-generating means.According to Mr. Pen Sina, Director of DDSP's Inclusive Training Centre, the business is run by a team of 19 members, eight of whom are people with disabilities.Launched in August 2019, the waste recycling manufacturer produces especially plastic items such as rulers, bricks, tiles, toys, key chains, tables, and chairs.Recycling plastic waste reduces its harmful impacts on the environment and human health while generating income to support people with disabilities, said Mr. Pen Sina.It is a humble business with only two small plastic waste processing machines and some moulds, he continued, but with the public's support, it will be expanded in the future.The centre director called on the public to continue supporting the products of the business.
RoK to Continue Supporting Cambodia’s Commitment to Achieving Development Goals
Phnom Penh, September 08, 2023 --The Republic of Korea (RoK) will continue to support Cambodia to achieve its strategic goal of becoming a high-income economy by 2050.The support was reiterated by visiting Speaker of the National Assembly of RoK, H.E. Kim Jin Pyo, in a courtesy meeting with Samdech Akka Moha Sena Padei Techo Hun Sen, President of the Supreme Privy Council of His Majesty the King and President of the Cambodian People’s Party (CPP), at the January 7 Palace in Phnom Penh this morning, according to a CPP’s press release made public after the meeting.H.E. Kim Jin Pyo praised Samdech Techo Hun Sen for his wise leadership and requested him to continue contributing to lasting peace in the region and the world.He also thanked the Cambodian side for their continued support to Korea’s bid in hosting the World Exp 2030 in Busan city, as well as the organisation of FIFA World Cup 2002.For his part, Samdech Techo Hun Sen thanked the National Assembly, the Government and the people of RoK, especially H.E. Kim Jin Pyo, for their contribution to the launch of the Economic Development Cooperation Project through the provision of EDCF concessional loans since 2001.Samdech Techo Hun Sen mentioned the historically good relations between the two countries and recalled Korea’s assistance to Cambodia in difficult times, including the socio-economic recovery after a long civil war. Road infrastructure, special technical training school, particularly the Cambodia-Korea Friendship Bridge to be constructed across the Tonle Sap and Mekong rivers are the symbol of great solidarity.Both sides highly valued the cooperation and reliable partnership for ASEAN-Korea and Mekong-Korea cooperation. They applauded the joint achievements in ratifying the Cambodia-Korea Free Trade Agreement, even during the Covid-19 spread.The two sides will urge the governments of the two countries to continue to work closely and make new achievements for the benefit of the people of the two countries.
An Electric Substation Development Project Approved by CDC
Phnom Penh, September 07, 2023 --A project to develop a substation and a 230-kilovolt high-voltage electricity transmission line from Kampong Cham province to Kratie province has been approved by the Council for the Development of Cambodia (CDC).According to a press release from the CDC made public this morning, with an investment capital of US$92.2 million, the project is invested by Cambodian Transmission II Co., Ltd. and could create some 464 jobs for the locals.At the same time, the CDC also gave the green light to nine other investment projects covering the production of pet food, toys and clothing, hats, bags, shelves, and so on.The newly approved projects, amounting to US$54.25 million, would generate a total of nearly 14,000 job opportunities.
EIU Ranks Cambodia among Best Investment Destinations for Chinese Market Expansion, Supply-Chain Development
Phnom Penh, September 07, 2023 --The Economist Intelligence Unit (EIU) has ranked Cambodia as the world’s sixth most attractive investment destination for market expansion by Chinese companies.In a report on China’s Belt and Road Initiative released Thursday, the EIU also ranked Cambodia as the tenth best destination for Chinese investment in supply-chain development."We anticipate strong momentum behind Chinese enterprises going global,” the London-based business intelligence firm said.Expansion is expected to focus on consumer electronics, information technology services, telecommunications, renewable energy and automotive products “where China has already been establishing its competitive edge.”‘URGENCY OF FINDING ALTERNATIVE MARKETS’“Deteriorating relations with conventional export markets and slow domestic growth have highlighted the urgency of finding alternative markets,” the EIU said,For market expansion, Indonesia ranked top followed by Bangladesh, Vietnam, Malaysia and Pakistan.Trailing Cambodia in the Top 20 most attractive destinations for Chinese market expansion were Egypt in seventh place followed by India, Tanzania, Colombia, Russia, Ethiopia, the US, Angola, the Philippines, Nigeria, Israel, Brazil, the Democratic Republic of Congo and Kenya.Although not in the Top 20, the report said Thailand was “attracting Chinese automakers to position the country as their EV manufacturing hub” in ASEAN.Ahead of Cambodia in the rankings for supply-chain investment, Singapore topped the list followed by Malaysia, Thailand, Indonesia, Vietnam, Mexico, Egypt, Bangladesh and Morocco.After Cambodia were South Africa, Chile, the Philippines, India, Hungary, Brazil, Poland, Bulgaria, Romania and Turkey."We suggest that investors consider the key operational risks associated with the investment destination, such as labour market restrictions and disputes with major trading partners," the report said."Financial risks, such as exchange-rate volatility and capital account convertibility, are also instrumental.”BALANCING OPPORTUNITIES AND RISKSThe EIU ranked Cambodia among 21 destinations with "more opportunities and less risk” — alongside fellow Regional Comprehensive Economic Partnership (RCEP) members Indonesia, Malaysia, Singapore, Thailand and Vietnam.China’s “mixed record” of direct investment abroad over the last decade “underscores the importance of anticipating the risks associated with entering a foreign country,” it said.The report noted that the Chinese government had increasingly emphasised the “rationalisation” of overseas investment.Part of this drive is putting priority on “small and beautiful” projects in the Belt and Road Initiative.New Zealand was the only RCEP member with “less risk but few opportunities” while Australia, Japan, the Philippines and South Korea has “more opportunities but high risk.” The only RCEP member with “few opportunities and high risk” was Myanmar.CAMBODIA’S OVERALL RANKING: 21 OUT OF 80 DESTINATIONSOverall, Cambodia ranked 21 out of 80 destinations based on their appeal to Chinese investors.The Top 20 were Singapore followed by Indonesia, Malaysia, Hong Kong, Thailand, Vietnam, Switzerland, UAE, Saudi Arabia, Chile, India, Bangladesh, South Africa, New Zealand, Russia, Qatar, Egypt, Colombia, Kazakhstan and South Korea.Trailing Cambodia in the Top 30 were Mexico, Israel, Ecuador, Peru, Germany, Brazil, the US, Austria and France.
NBC is ready to intervene in the exchange market internationally
Phnom Penh: The National Bank of Cambodia is ready to intervene in the exchange market to maintain the value of the riel in order to maintain the purchasing power of the Cambodian people as the US dollar appreciates globally against other currencies, including the Cambodian riel. .In recent days, the riel exchange rate against the US dollar has risen significantly, mainly due to seasonal factors and the pressure of the US dollar to appreciate in international markets. This is according to the press release of the National Bank of Cambodia.Due to seasonal factors, the demand for the riel slowed down during the agricultural growing season and the low season. The US dollar as a whole continued to appreciate against other world currencies after the US Federal Reserve continued to raise benchmark interest rates, attracting capital inflows into the United States and boosting demand for the US dollar in international markets.The National Bank of Cambodia continues to adopt a controlled floating exchange rate regime that allows the riel exchange rate to fluctuate at an appropriate level. In this regard, the National Bank of Cambodia is ready to take the necessary steps, including intervention in the foreign exchange market and the use of other monetary policy instruments to maintain the value of the riel in order to maintain the purchasing power of the Cambodian people.
Cambodian PM Asks South Korea to Invest in Agriculture
Phnom Penh, August 28, 2023 --Cambodian Prime Minister H.E. Kitti Tesaphibal Pundit Hun Manet has requested the Republic of Korea to further invest in the Cambodian agricultural sector.The Cambodian Premier made the request when he received here at the Peace Palace this afternoon visiting H.E. Chung Hwang-Keun, Minister of Agriculture, Food and Rural Affairs of the Republic of Korea. In the meeting, H.E. Kitti Tesaphibal Pundit Hun Manet expressed warm welcome to H.E. Chung Hwang-Keun’s visit, and appreciated and thanked the Korean side for their support and care for Cambodian migrant workers in Korea through the Korea Support Centre for Foreign Workers, which provides support services to workers from all countries, including Cambodia.H.E. Kitti Tesaphibal Pundit Hun Manet also reaffirmed Cambodia's support for Korea's bid for the host of the 2030 World Expo in Busan and called on the Korean side to boost more investment in Cambodia, especially in the agricultural sector for export.For his part, H.E. Chung Hwang-Keun was convinced that under the historic leadership of H.E. Kitti Tesaphibal Pundit Hun Manet, Cambodia will see further progress in all sectors.Both sides also agreed to further strengthen and expand the cooperation and trade between the two countries.H.E. Chung Hwang-Keun has been on a visit in Cambodia from Aug. 26-28, 2023. The visit highlighted the close cooperation between the two countries in agriculture and other fields.
Cambodian, Indian ICT Companies Hold B2B Meeting
Phnom Penh August 24, 2023 --A visiting delegation of Electronics and Computer Software Export Promotion Council (ESC) composed of 15 Indian ICT industry players had here on Aug. 24 an exclusive Business Alliance Meet with Cambodian counterparts to foster the cooperation in ICT between the two countries.The event was presided over by H.E. Dr. Devyani Khobragade, Ambassador of India to Cambodia; Secretary of State at the Cambodian Ministry of Industry, Science, Technology, and Innovation H.E. Sun Seng Hout, and Secretary of State at the Cambodian Ministry of Post and Telecommunications H.E. So Visothy.According to a news release from the Embassy of India in Phnom Penh, the event provided the participating companies with opportunities to forge business and strategic alliances, strike market tie-ups, and create win-win propositions to take their businesses on a growth trajectory.The ICT products and services projected by the visiting Indian ICT delegation included Edu-tech, e-commerce, mobile web applications, identity verification, customer onboarding solutions, staff augmentation, ERP/ CRM solutions, international contact centres, block chain, embedded verticals, WMS software, quality management software, cloud consulting, UI/ UX, machine learning, mobile computing, Fintech, Agritech, Metaverse, VFX mobile editing, digital transformation, consulting infrastructure solutions, Health IT, ticketing machines, banking solutions, skill development, scientific and lab equipment, among others.Speaking on the occasion, H.E. Dr. Devyani Khobragade said that with an objective to enhance trade and investments, the two sides are working on a Bilateral Investment Treaty and discussing a Preferential Trade Agreement.She elaborated on various initiatives including India setting up a Centre of Excellence in Software Development & Training in Cambodia, a Pilot Project on a Common Service Centre to facilitate digitalisation of various government services at the village level.H.E. Ambassador laid stress on both sides’ efforts in setting up a Joint Business Council to facilitate private sector led initiatives and in establishing direct linkages between the two nations. India and Cambodia are working towards linking of payment systems enabling UPI payments in Cambodia, she added.For his part, H.E. Sun Seng Hout said that Cambodia has endorsed numerous strategic policies strengthening the use of digital technologies, including digital economy, digital government, digital commerce, on-line registrations for industry and enterprise, and to promote technology for supporting economic growth. He expressed thanks to the Embassy of India and visiting delegates for arranging the meeting to bring together business executives to share expertise and knowledge. H.E. So Visothy said that the Royal Government of Cambodia has launched Cambodia Digital Economy and Society Policy Framework 2021-2035 and Cambodia Digital Government Policy 2022-2035 for building a vibrant digital economy and society, to promote digital adoption and transformation, to accelerate new economic growth, to build a digital government, and to provide effective and inclusive public services. He added that one of the strategic goals of the Cambodia Digital Government Policy is to promote partnerships between the public and private sectors.To further strengthen the IT relations between India and Cambodia, a large Cambodian delegation was invited to visit India for INDIASOFT 2024, the largest IT global networking event in India, to be held in New Delhi, India from Jan. 17 to 19, 2024. INDIASOFT 2024, comprising of International Exhibition and Conference, is aimed to facilitate joint ventures, collaboration and strategic alliances for outsourcing with overseas buyers. The event will provide participants an opportunity to broaden their vision and forge business partnerships.