The Public to Have Access to Free Bus Service during Pchum Ben Holiday
Phnom Penh, September 01, 2023 --The Phnom Penh Capital Hall have been instructed to provide free-of-charge public bus service in Phnom Penh and back and forth between the capital and provinces during the upcoming Pchum Ben Festival.The instruction was made by Prime Minister H.E. Kitti Tesaphibal Pundit Hun Manet at a get-together with some 18,000 workers and employees in Takhmao town, Kandal province this morning.This year, the Pchum Ben Festival, or the Festival for Dead, will fall on Oct. 13 to 15.Generally, during the three-day holiday, people return to their homeland, go to pagoda, travel to different tourism destinations, and join various entertainment activities.The Royal Government annually provides the free bus service to help reduce people's travel cost during the Pchum Ben Festival and Khmer Traditional New Year.
PM’s Cabinet Promoting Economic Pentagon Strategy on Social Media
PHNOM PENH: Prime Minister Hun Manet's economic blueprint, the Pentagon Strategy, replaces the government's prior Triangle and Rectangle Strategies. His father's Cabinet and the Asian Development Bank developed the strategy earlier this year in order to "further promote national pride (...) through building a strong, proactive, and prosperous nation (...) to become a high-income country by 2050."Delegated Minister Attached to the Prime Minister, Jean-François Tain, supported the well reported Pentagon Strategy on his Facebook page this week, outlining some of its main themes but not going into much information about how the strategy's goals will be achieved. The strategy sets lofty targets such as lowering the poverty rate to 10%, reducing socioeconomic inequality, sustaining economic growth rates, and improving the social safety system by focusing on the most vulnerable.According to Tain, the initiative displays Prime Minister Hun Manet's administration's more socially oriented policy and compassion for society's most needy. According to him, the administration will "strive by all means and, in all capacities, to promote economic growth, create more jobs, promote social equity, and strengthen the quality of education and health care, particularly in remote areas."After 30 years with the media institution, Jean-François Tain quit as managing director of Radio France International (RFI) in Khmer in March and is now working under Cambodia's new prime minister.
Helping The Most Impoverished Is The Priority of H.E. Kitti Tesaphibal Dr. Hun Manet, the Prime Minister of Cambodia
Phnom Penh, August 31, 2023–Not many people pay close attention to the terms Triangle Strategy, Rectangular Strategy and, from now on, Pentagonal Strategy which is the roadmap of the new government led by the new Prime Minister, H.E. Kitti Tesaphibal Dr. Hun Manet.In a nutshell, one can say that the current key accomplishments (sovereign and independent Cambodia, Cambodia in the regional and global integration, peace, lifting millions of Cambodians out of poverty if compared to the situation 25 years ago, etc.) were obtained through the implementation of the Triangle Strategy, the Rectangular Strategy, as well as the Win-Win Policy of Samdech Techo Hun Sen. In this connection, the Pentagonal Strategy is the third "code", in both principle and theory, leading Cambodia to a new stage of nation building.By 2050, this Pentagonal Strategy will have gone through five phases. The end- and long-term goal is to "further promote national pride (...) through building a strong, proactive, and prosperous nation (...) to become a high-income country by 2050."In this regard, the first phase is what the "new generation, new blood, and new energy" government under the leadership of H.E. Dr. Hun Manet has carried out for a short period of five to seven years. Among the key measures of the Pentagon Strategy-Phase I, caring "the most impoverished" is the top priority. In fact, as H.E. Dr. Prime Minister pointed out on 24 and 28 August 2023, the government will strive by all means and, in all capacities, to promote economic growth, create more jobs, promote social equity, strengthen quality of education and health care sector particularly in the remote areas. This not only demonstrates the more socially oriented policy of the government of H.E. Dr. Hun Manet, but also undeniably illustrates the compassion of this new head of government for the most impoverished in our society, such as workers, informal businessmen, and the people in the rural areas.At present, facing reeling national, regional and international economy, the government led by H.E. Kitti Tesaphibal Dr. Hun Manet continues to roll out the goals of "reducing poverty rate to below 10%," narrowing down socio-economic inequality, maintaining economic growth rate, and concurrently enhancing the social protection system by especially taking care of the most impoverished. In order to achieve these goals and to continue to strive for greater accomplishments for our nation, optimism, confidence, and hope of each citizen along with the strong commitment of the government of H.E. Dr. Hun Manet are the most necessary.
Cambodia, EU to Continue Strengthening Cultural Collaboration
Phnom Penh, August 30, 2023 --Cambodia and the European Union (EU) welcomed all new initiatives aiming to further strengthen their collaboration on cultural sector, especially on the exchange of information and cultural promotion.The commitment was made in a farewell meeting here on Aug. 29 between H.E. Mrs. Phoeurng Sackona, Minister of Culture and Fine Arts and H.E. Mrs. Carmen Moreno, outgoing EU Ambassador to Cambodia.Both sides expressed their satisfaction with the achievements resulted from the cultural cooperation between the Cambodian Ministry of Culture and Fine Arts and EU, including the organisation of annual events such as film festival, symphony orchestra, and beyond.H.E. Mrs. Phoeurng Sackona thanked the EU for its assistance to Cambodia, not only in the governmental, but also NGO framework, for example its support for Phare Ponleu Selpak organisation in Battambang province and other NGOs in rural culture and creative culture promotion, which is part of Cambodia's economic development.
MOWRAM Calls for Vigilance of Possible Accidents
Phnom Penh, August 30, 2023 --The Ministry of Water Resources and Meteorology (MOWRAM) has urged the public to be vigilant of possible accidents due to successive rainfall in the next few days.According to the ministry’s latest weather forecast released this morning, there would be continuous rainfall, from moderate to heavy, along with thunder, lightning and gusts, at the coastal areas, from Sept. 1 to 4.The public, particularly seafarers, are also advised to be careful of strong wind and high waves.For the temperature, during the period from Aug. 28 to Sept. 3, it would vary between 23 to 34 degrees Celsius for central lowland areas, from 22 to 33 degrees Celsius for highland areas, and between 24 and 31 degrees Celsius for coastal regions, said MOWRAM in its announcement issued early this week.
Cambodia, Timor-Leste Discuss Tourism Cooperation Promotion
Phnom Penh, August 29, 2023 --Cambodia and Timor-Leste have discussed potential opportunities for collaboration in promoting tourism and facilitating travel for tourists between the two countries.The discussion took place between H.E. Sok Soken, Minister of Tourism and H.E. Francisco Kalbuadi Lay, Deputy Prime Minister, Coordinating Minister for Economic Affairs and Minister of Tourism and Environment of the Democratic Republic of Timor-Leste here in Phnom Penh on Aug. 28.According to a press releases of the Ministry of Tourism, during the meeting, H.E. Sok Soken expressed his appreciation for the government of Timor-Leste's unwavering commitment to the deepening of bilateral relations between the two countries since the time of Cambodian former Prime Minister, Samdech Akka Moha Sena Padei Techo Hun Sen, and under the leadership of newly-appointed Prime Minister, H.E. Kitti Tesaphibal Pundit Hun Manet.The minister also expressed his readiness to work with Timor-Leste to organise tourism activities and exchange officials to enhance cooperation in the tourism industry.H.E. Francisco Kalbuadi Lay congratulated the Royal Government of Cambodia's recent election's success, expressed satisfaction over the good relations between the two countries, and highlighted the efforts made to strengthen and deepen the relations and cooperation between the two nations. Particularly, he also recalled the significance of the officials visit of Samdech Techo Hun Sen on Aug. 19-20, 2016 to Timor-Leste which opened up the path to many major areas of cooperation including tourism.The Timor-Leste DPM also reaffirmed the Timorese people's willingness to visit Cambodia and said that deepening tourism cooperation between the two countries is essential to realising the goal.The two sides expressed their commitment to further elevate tourism cooperation by expediting the signing of the Memorandum of Understanding on tourism cooperation between Cambodia and Timor-Leste, aiming to promote cultural and economic exchange, build stronger people-to-people connection, and foster greater mutual benefits and trust between the two countries.
Siem Reap TMPSP 2023-2026 Expects 7 Million Tourists
Phnom Penh, August 22, 2023 -- The Ministry of Tourism has recently launched the Siem Reap Tourism Marketing and Promotion Strategic Plan (TMPSP) for 2023-2026, expecting to attract seven million national and international tourists annually. The launch of Siem Reap TMPSP 2023-2026 is in line with the Siem Reap Tourism Development Master Plan 2021-2035, according to the Ministry of Tourism. The plan is aimed at putting forth promotion activities focusing on attracting short- and long-term tourists by proving them the best tourism package options. Twenty-one actions have been identified to achieve the mentioned target within the four-year period in order to receive at least four million national and three million international tourists a year by 2026.
International Institutions’ Congratulation Messages to NBC’s Governor Reflect Trust and Confidence to Cambodia’s Banking System
Phnom Penh, August 25, 2023 --H.E. Dr. Chea Serey receiving congratulation messages from international financial institutions and central banks over her appointment as Governor General of the National Bank of Cambodia (NBC), has reflected the trust and confidence that the national and international community have in her abilities, in further develop the Cambodian banking system and continue to enhance financial cooperation at both the regional and international levels.The International Monetary Fund (IMF), the European Central Bank (ECB), and international payment technology companies such as Visa and Mastercard have all sent messages of support to H.E Dr. Chea Serey, who is the first Cambodian woman to be appointed to this important position."I am truly honoured to see a highly qualified woman leading the Central Bank in your country and I look forward to continuing the very good relations and collaboration between our institutions,” said European Central Bank President Christine Lagarde in a congratulatory message.The IMF’s executive director Yati Kurniati also expressed congratulations, saying that she "look forward to continuing the close cooperation with the National Bank of Cambodia” under the leadership of H.E. Dr. Chea Serey.In addition to these international institutions, the central banks of many countries, including the Central Bank of Luxembourg, the Bank of Japan, the Bank of Korea, and the Monetary Authority of Singapore, have also congratulated NBC’s governor.They have praised her outstanding leadership and clear vision for the future development of the Cambodian banking sector.The Asian Development Bank (ADB) has also reiterated its willingness to continue "close cooperation" with the NBC, while the ASEAN+3 Macroeconomic Research Office (AMRO) has praised Cambodia’s central bank chief’s many initiatives, calling them "invaluable" contributions to the growth of Cambodia's economy and the strengthening of regional financial cooperation.H.E. Dr. Chea Serey has also received congratulations and wishes from the Ministries, Institutions of the Royal Government, embassy and foreign missions in Cambodia, banking and financial institutions, associations in the financial sector, and many other institutions operating in Cambodia.She was appointed as NBC governor following her promotion to deputy governor from central bank director-general in March.She also organised the development of NBC’s Bakong interbank transaction system and a new generation of blockchain-driven payment solutions.She, 42, graduated with a Master's Degree in Banking from the SOAS University of London in Britain in 2010 and earned a Doctor of Philosophy (Ph.D.) in economics from the University of Adelaide, Australia, in 2021. She has worked at the NBC since 1999.Cambodia’s banking industry’s outstanding loans rose by 21.7 percent year-on-year to US$56 billion as of last year, while customers’ deposits increased by 15.3 percent to US$45 billion, the central bank’s report said.The country has 58 commercial banks, nine specialised banks, and 86 microfinance institutions, with a total of 2,614 headquarters and branches as well as 3,998 ATMs.
Equity Card Holders' Living Improved Under Poor Identification Programme
Phnom Penh August 24, 2023 --The Poor Identification Programme has played a key role in supporting the lives of poor people and contributing to the government’s programme of eradicating poverty in the country. One of the beneficiaries, Ms. Prach Sineth, a resident of Mittapheap village in Sangkat Prek Eng of Phnom Penh thanked the Royal Government of Cambodia for the equity card, which is unloading her family's financial burden. "With the equity card, I am able to access medical services provided without any discrimination," she said. Another beneficiary in Chong Prek I village of the same Sangkat Mr. Vichet Saroeun echoed the feedback."We get free medical checkups at public hospitals and are given a monthly allowance, thanks to the Poor Identification Programme," he added. The Identification of Poor Households Programme (IDPoor) serves as a social registry of poor and vulnerable households, a component of a comprehensive social protection system. Securing a social safety net for economically vulnerable people and universal access to health care are the top priorities of the Royal Government of Cambodia. Families eligible for the IDPoor programme are mainly those with member(s) who have a serious illness or disability, without a breadwinner, affected by a natural disaster, with member(s) infected with HIV, and with migrating members, and so on.
More World Leaders Congratulate Cambodian New PM
Phnom Penh August 25, 2023 --Prime Minister of India H.E. Narendra Modi has extended his congratulations to H.E. Kitti Tesaphibal Pundit Hun Manet on his assumption of office as the Prime Minister of the Kingdom of Cambodia and pledged to collaborate with him to further deepen the relationship between the two countries.“Congratulations H.E. Dr. Hun Manet on assuming charge as the Prime Minister of the Kingdom of Cambodia. I look forward to working closely with you for further elevating our friendly historical ties,” he tweeted on Aug. 24.For his part, H.E. José Ramos-Horta, President of the Timor-Leste spoke highly of H.E. Kitti Tesaphibal Pundit Hun Manet’s leadership's prospects which brings further development and more achievements to Cambodia and the prosperity of Cambodian people.“I recalled our meeting in October last year in Phnom Penh and I was proud to learn of your visions and expectations for the development of Cambodia and the region. Your intellectual, your military experience as Deputy Commander-in-Chief of the Royal Cambodian Armed Forces and Commander-in-Chief of the Royal Cambodian Army, and your visionary thinking can make a lot of difference to Cambodia and the region,” he wrote in his recent congratulatory letter.Other world leaders, including those of Bangladesh, Belarus, Brunei Darussalam, China, Cuba, Ghana, Hungary, Japan, the Democratic People’s Republic of Korea, the Republic of Korea, Maldives, Myanmar, Singapore, Thailand, Tunisia, Vietnam and so on as well as president of the Asian Development Bank (ADB) have also sent their respective congratulatory messages to H.E. Kitti Tesaphibal Pundit Hun Manet.
Demand for Organic Rice in Preah Vihear Continues
Phnom Penh August 25, 2023–Two companies, Amru Rice (Cambodia) and Golden Rice Cambodia, renewed their contracts on Aug. 24 to buy organic rice from the farming community in Preah Vihear province. The renewed contracts were signed at Preah Vihear Provincial Department of Agriculture, Forestry, and Fisheries in the presence of the province's deputy governor H.E. Ouk Kimsan. Under the contracts, Golden Rice Cambodia will purchase 1,200 tonnes of organic rice from seven farming communities with 1,000 producer families, and Amru Rice (Cambodia) will buy about 1,000 tonnes of rice from four farming communities with 500 producer families.Oknha Song Saran, General Director of Amru Rice (Cambodia) said 2023 is the ninth year that his company has renewed the purchase contract with Preah Vihear's agricultural communities and that his company is committed to promoting and exporting Preah Vihear organic rice to the world market. According to Mr. Peung Trida, Director of Preah Vihear Provincial Department of Agriculture, the province's Preah Vihear Meanchey Union of Agricultural Cooperative is Cambodia's first union of its kind, established in April 2016 with 25 farming communities of 5,403 producer families. H.E. Ouk Kimsan said that the Royal Government is exploring new international markets to export Cambodia's agricultural products, and agriculture is the backbone of national economic development. He thanked all stakeholders for the good coordination to promote his province's agriculture as well as boost the lives of the farming communities. Preah Vihear province is well known for organic rice and organic cassava.
New PM to further Support Government-Private Sector Forum
Phnom Penh, August 24, 2023 --Prime Minister of the Kingdom of Cambodia, H.E. Kitti Tesaphibal Pundit Hun Manet expressed his full support for the Government-Private Sector Forum.Addressing to the first plenary session of the Council of Ministers for the 7th Legislature of the National Assembly held here at the Peace Palace this morning, H.E. Kitti Tesaphibal Pundit said he will chair this event in November.“I will personally lead the 19th Government-Private Sector Forum in this upcoming November, to gather any inputs or request from the private sector that will be used to formulate targeted and practical measures as supports for the private sector, as being one of our economy’s driving forces,” he underlined.H.E. Kitti Tesaphibal Pundit encouraged the private sector and any other stakeholders to take this opportunity, and actively participate in this coming forum, while he asked his officials including H.E. Aun Pornmoniroth, Deputy Prime Minister, Minister of Economy and Finance and the Chairman of the Committee on Economic and Financial Policy to coordinate with relevant ministries-institutions, private sector, and other stakeholders to prepare the launching of this forum.The Government-Private Sector Forum was established at the initiative of the Royal Government of Cambodia under the leadership of Samdech Akka Moha Sena Padei Techo Hun Sen in 1999. It is a mechanism for public/private sector consultation on investment climate issues ranging from long range policy to day-to-day operations.This forum has also given the Royal Government a channel for getting private sector feedback on draft policies, laws and regulations.Under Samdech Techo Hun Sen’s administration, this forum has two plenary meetings a year which have the status of cabinet meetings, and decisions made by the Prime Minister are binding.
Cambodian PM Invited to Summit of Heads of State and Government of Group of 77+China in Cuba Next Month
Phnom Penh, August 24, 2023 --President of Cuba H.E. Miguel Diaz-Canel Bermudez has invited H.E. Kitti Tesaphibal Pundit Hun Manet, Prime Minister of the Kingdom of Cambodia, to participate in the Summit of Heads of State and Government of the Group of 77+China in Havana, Cuba in mid-September.The invitation was extended to H.E. Kitti Tesaphibal Pundit in a congratulatory letter on his appointment as Prime Minister of Cambodia.“I would like to take advantage of this letter to invite you to participate, in person, in the Summit of Heads of State and Government of the Group of 77 and China on the current challenges of development: role of science, technology and innovation, to be held in Havana, on Sept. 15-16, 2023,” H.E. Miguel Diaz-Canel Bermudez said.“It would be a great honour to receive you in Cuba and count on your valuable presence and active contribution at this important Summit,” he added.The Cuban President also wished H.E. Kitti Tesaphibal Pundit Hun Manet success “in carrying out such an important responsibility”.“You can always count on Cuba’s firm commitment to promote political dialogue to continue strengthening the close relations of friendship, solidarity and cooperation between our governments and peoples,” affirmed H.E. Miguel Diaz-Canel Bermudez.
Pentagonal Strategy-Phase I Focuses on Five Key Priorities
Phnom Penh, August 24, 2023 --The Royal Government of Cambodia (RGC) of the 7th Legislature of the National Assembly has launched the Pentagonal Strategy-Phase I for Growth, Employment, Equity, Efficiency and Sustainability: Building the Foundation Towards Realising the Cambodia Vision 2050, as the socio-economic policy agendas to effectively implement the “Political Platform”.The launch of the new strategy took place during the first plenary session of the Council of Ministers for the 7th Legislature of the National Assembly, held under the chairmanship of Prime Minister H.E. Kitti Tesaphibal Pundit Hun Manet, at the Peace Palace in Phnom Penh this morning.H.E. Kitti Tesaphibal Pundit said the strategy has Five Mottos, Five Strategic Objectives, and Five Key Priorities.The Five Mottos included, growth, employment, equity, efficiency, and sustainability, while the Five Strategic Objectives are 1. Ensuring crisis-resilient economic growth of around 7 percent per year on average; 2. Creating more jobs, both quantity and quality, for Cambodian people, especially for the youth; 3. Achieving the poverty reduction targeting of below 10 percent and continuing to keep the poverty rate to a minimum level; 4. Continuing to strengthen governance capacity and improving the quality of public institutions, both national and sub-national, to ensure efficiency of public services, continue to strengthen private sector governance, and continue to promote a favourable environment for business, investment, and trade; and 5. Ensuring sustainable socio-economic development and building resilience to climate change.“With Five Mottos and Five Strategic Objectives as stated above, the RGC identifies Five Key Priorities for this strategy, namely People, Road, Water, Electricity, and Technology that are clearly reflected in the Strategic Pentagons in the whole structure of the strategy,” he underlined.H.E. Kitti Tesaphibal Pundit Hun Manet said that overall, the structure of the Pentagonal Strategy-Phase I has Core of the Strategy: to reform and strengthen governance, Overarching Environment: to ensure a conducive environment for the implementation of the entire strategy, and Five Strategic Pentagons: to promote economic growth and social progress.
Cambodia Attracts Three Million International Tourists in Seven Months
Phnom Penh, August 23, 2023 --Cambodia recorded some 3.03 million international visitors in the first seven of 2023, a sharp increase of 308 percent from 743,459 over the same period last year, a Ministry of Tourism’s report showed on Wednesday.Thailand topped the chart among the international arrivals to the country during the January-July period this year, followed by Vietnam, China, Laos, and the United States, read the report.The ministry has said that that the number of foreign visitors to Cambodia is predicted to reach 7 million in 2025, surpassing the pre-COVID-19 pandemic level of 6.6 million in 2019.Tourism is one of the four pillars supporting Cambodia’s economy, in addition to garment export, agriculture, and construction and real estate.According to the ministry, in 2022, more than 2.2 million international tourists visited Cambodia, an increase of 1,059 percent compared to 2021.Cambodia is well known for its three world heritage sites, namely the Angkor Archaeological Park in Siem Reap province, the Preah Vihear Temple in Preah Vihear province, and the Sambor Prei Kuk Archaeological Site in Kampong Thom province.Besides, it has a 450-km pristine coastline stretching across four south-western provinces of Preah Sihanouk, Kampot, Kep and Koh Kong.
ASEAN Secretary-General Extends Congratulations to New Cambodian PM
Phnom Penh, August 23, 2023 --Secretary-General of ASEAN H.E. Dr. Kao Kim Hourn has conveyed his best wishes and congratulations to H.E. Kitti Tesaphibal Pundit Hun Manet on his assumption of office as the Prime Minister of the Kingdom of Cambodia on Aug. 22, 2023.“Your election as Cambodia's Head of Government is a testament to the trust that the people of Cambodia has placed in your leadership to drive the continued peace, development and prosperity of the country,” he said in his congratulatory message to the Cambodian new Prime Minister.Since becoming a member of ASEAN in 1999, he recalled, Cambodia has and continues to make strides to contribute immensely towards the ASEAN Community-building agenda. Cambodia's commitment to ASEAN's development and integration was most recently demonstrated through its ASEAN Chairmanship in 2022, during which Cambodia led the region in returning to normal after the COVID-19 pandemic had begun to subside.“Cambodia has always played an important role in upholding ASEAN Centrality and unity, even during tumultuous and challenging times, as evident in the successful convening of the Second ASEAN Global Dialogue in November 2022. Cambodia has also consistently promoted ASEAN's active engagement in the wider region, which was manifested in the adoption of the ASEAN Leaders' Declaration on Mainstreaming Four Priority Areas of the ASEAN Outlook on the Indo-Pacific within ASEAN-led Mechanism and the adoption of the Concept Note on ASEAN Roadmap for Promoting ASEAN Outlook on the Indo-Pacific in November 2022. It is significant that this Statement has kick-started the efforts to streamline the implementation of the AOIP across all ASEAN Sectoral Bodies,” he added.Cambodia's ASEAN Chairmanship has also made a mark in international history. After eleven years, H.E. Kao Kim Hourn underlined, Timor-Leste's application to become a member of ASEAN has achieved meaningful progress after the adoption of the ASEAN Leaders' Statement on the Application for ASEAN Membership during the 40th and 41 ASEAN Summits and Related Summits in Phnom Penh. Under Cambodia's leadership, Timor-Leste was able to be admitted in-principle as the 11th Member of ASEAN. Owing to the observer status granted by the ASEAN Leaders, Timor-Leste is now able to enjoy the privilege of attending all ASEAN meetings including the ASEAN Summits. This, in turn, has tremendously contributed to Timor-Leste's progress in readying themselves to become a full member of ASEAN.In addition to the above deliverables, he continued, the Regional Comprehensive Economic Partnership (RCEP) Agreement, which is the world's largest Free Trade Agreement, was signed in Cambodia last year after 10 years of negotiations which were launched in Cambodia in 2012. This RCEP Agreement would undoubtedly provide huge benefits for both ASEAN and its partners in doing businesses with ASEAN, in consistent with the projection that ASEAN to be the fourth largest economy in the world by 2030.“I strongly believe that under your able leadership as the Prime Minister, Cambodia would continue to lead to an even brighter future for the benefits of its people as well as for the peoples of ASEAN,” he said. “The ASEAN Secretariat stands ready to continue rendering our fullest support to and working hand in hand with Cambodia and the other ASEAN Member States towards realising our ASEAN Community Vision 2025 and beyond. I look forward to welcoming you to Jakarta for the upcoming 43rd ASEAN Summit and Related Summits next month.”
Siem Reap Hosts a Regional Training Course on "Exchange Rate Policy"
Phnom Penh, August 23, 2023 --The National Bank of Cambodia (NBC) has been hosting a training course of "Exchange Rate Policy" with the participation of 34 representatives from central banks and monetary authorities of 12 countries in Asia Pacific Region.Organised by NBC in collaboration with the South East Asian Central Banks Research and Training Centre (SEACEN) and the Bank of Japan, the five-day course was opened early this week at Sokha Angkor Hotel in Siem Reap province.The opening ceremony was presided over by H.E. Sum Sannisith, Deputy Governor, high representative of NBC Governor H.E. Dr. Chea Serey and Dr. Mangal Goswami, Executive Director of the SEACEN centre.According to NBC, the training course, conducted from Aug. 21 to 25 by seven international experts and academics, aims at providing hand-on knowledge and experience in (1) understand the classification of exchange rate regimes; (2) Discuss the effect of various exchange rate regimes on price stability, economic growth and other important domestic variables; (3) assess equilibrium exchange rate and exchange rate misalignment; and (4) understand the important underlying issues on international reserves and foreign exchange intervention.
Cambodian, Vietnamese NAs to Continue Their Collaboration for Mutual Benefit
Phnom Penh, August 23, 2023 --The National Assemblies (NAs) of the Kingdom of Cambodia and the Socialist Republic of Viet Nam have pledged to work together to further enhance their cooperation for the benefit of the two countries and peoples.“I look forward to working closely with Your Excellency and the National Assembly of the Socialist Republic of Viet Nam to ensure peace, stability, and shared prosperity for our two nations. Our destiny is intrinsically interconnected, and naturally we are bound to support each other on many fronts,” wrote H.E. Kitti Sangaha Pundit Khuon Sudary, President of the Cambodian NA, in a thank-you message dated Aug. 22 to her Vietnamese counterpart H.E. Vuong Dinh Hue.For his part, H.E. Vuong Dinh Hue also looked forward to meeting H.E. Kitti Sangaha Pundit Khuon Sudary to discuss measures of cooperation to further strengthening the relations between the two nations, for the benefit of the people of Viet Nam and Cambodia, and for peace, stability and prosperity in the region and the world.He took the opportunity to congratulate H.E. Kitti Sangaha Pundit Khuon Sudary on her appointment as President of the Cambodian NA for the 7th Legislature.“I would like to share with Your Excellency the honour to be the first female President of the National Assembly of the Kingdom of Cambodia. The appointment demonstrates that the people and the Cambodian People's Party have placed a huge confidence in Your Excellency,” he said.H.E. Kitti Sangaha Pundit Khuon Sudary, former Second NA Vice President, was approved to be the NA President, while H.E. Cheam Yeap remains as the First NA Vice President and H.E. Vong Sauth, former Minister of Social Affairs, Veterans and Youth Rehabilitation, was endorsed to be the Second NA Vice President, during the first session of the 7th Legislature of NA held here at the NA Palace on Tuesday.
New Government Formation to Bring More New Investments
Phnom Penh, August 22, 2023 --The formation of the new Royal Government of Cambodia will bring new investments to the country, generating more jobs and contributing to the economic growth.Peace, political stability, and free trade agreements (FTAs), as well as the Regional Comprehensive Economic Partnership (RCEP) and the new investment law have made the country potential for investment, said H.E. Heng Sokkung, Secretary of State at the Ministry of Industry, Science, Technology, and Innovation.“In the new mandate of government, there will be new investors to inject investment capital, particularly in the non-garment manufacturing sector,” he affirmed.The RCEP and Cambodia-China FTA entered into force earlier in 2022 while the Cambodia-Korea FTA came into effect in December last year.Mr. Lim Heng, Vice-President of the Cambodia Chamber of Commerce, shared his insight over the country’s potential for investment.“The existing trade pacts bilaterally and multilaterally and new free trade agreements with main trade partners provide more momentum in attracting investments in years to come,” he said.Private sector has a firm belief that the new government will drive further economic growth through the existing free trade agreements, he added.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 (CDC).Foreign direct investment often reflects the confidence of an individual or an organisation of a foreign country in the recipient nation’s stability, growth prospect and soundness of political, economic and legal systems.Under the new investment law, promulgated in October 2021, Cambodia is expected to attract more FDIs in the future, said H.E. Heng Sokkung, underlining that Cambodia welcomes investment from all countries in line with its Industrial Development Policy 2015-2025.
Line-up of Members of 7th Legislature of National Assembly
Phnom Penh, August 22, 2023 --The following is the list of the National Assembly (NA)’s president and deputy presidents, chairmen and chairwomen, deputy chairmen and deputy chairwomen of the 10 specialised commissions, approved this morning at the first session of the 7th legislature of NA:I- LeadershipH.E. Kitti Sangaha Pundit Khuon Sudary President H.E. Kitti Setha Pundit Cheam Yeap First Vice PresidentH.E. Vong Sauth Second Vice PresidenII- Specialised Commissions:1- Commission on Human Rights, Complaint Reception, Investigation and National Assembly-Senate RelationsH.E. Sar Chamrong Chairman H.E. Sam Dara Deputy Chairman 2- Commission on Economy, Finance, Banking and Audit H.E. Chheang Vun Chairman H.E. Lok Hour Deputy Chairman 3- Commission on Planning, Investment, Agriculture, Rural Development, Environment and Water Resources H.E. Loy Sophat Chairman H.E. Ma Chhoeun Deputy Chairman4- Commission on Interior, National Defence and Civil Service H.E. Keo Chuktema Chairman H.E. Chan Sophal Deputy Chairman 5- Commission on Foreign Affairs, International Cooperation, Propaganda and Information H.E. Suos Yara Chairman H.E. Nim Chantara Deputy Chairman 6- Commission on Legislation and Justice H.E. Ang Vong Vathana Chairman H.E. Ms. Krouch Sam AnDeputy Chairwoman7- Commission on Education, Youth, Sports, Cults, Religious Affairs, Culture and Tourism H.E. Pa Socheatevong Chairman H.E. Ms. Kheng Samvada Deputy Chairwoman8- Commission on Health, Social Affairs, Veterans, Youth Rehabilitation, Labour, Vocational Training and Women’s Affairs H.E. Ms. Lok Kheng Chairwoman H.E. Som Chin Deputy Chairman 9- Commission on Public Works, Transport, Telecommunications, Post, Industry, Mines, Energy, Commerce, Land Management, Urban Planning and Construction H.E. Ms. Nin Saphon Chairwoman H.E. Ly Chheng Deputy Chairman 10- Commission on Investigation, Clearance and Anti-Corruption H.E. Pen Simorn Chairman H.E. Keo Vireak Deputy Chairman