Members, partners and friends of EuroCham Cambodia, This week, we hosted our very first Gender Equality Afternoon Talk & Networking and we're happy to say it was a big success with 60 participants from the business and development sector. This event will surely not be the last one we organize on this topic this year with many follow-up ideas popping up over the discussions, so stay tuned. Earlier this week, we had a preliminary discussion on setting up a Central & Eastern European Business Association Cambodia (CEEBAC). From our research, we already identified more than 20 companies or individuals who could join this chapter so this looks very promising. Feel free to reach out to me if you want to join this initiative, get involved with your national business community, and create something fun! More news coming soon… Today marks the end of my first full week as newly appointed Executive Director. I am very grateful to Tom Hesketh & Denis Sainte-Marie for the strong foundations they laid and the impressive team they built. Together, I am sure we’ll achieve new heights this year, always with our members and partners in mind. On this note, I wish you all a great weekend ahead. Martin |
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INTERVIEW Sandra Bernklau, Representative of the United Nation's Population Fund in Cambodia |
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This week, we spoke with Sandra Bernklau, Representative of the United Nation's Population Fund in Cambodia. Sandra is an expert in the field of gender equality, having worked on the issue for decades on the issue, most recently in Fiji and the Pacific. Read the interview to find out why promoting gender equality ends up benefiting everyone, not just women. |
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"The bottom line is gender equality reaps rewards for everybody. It’s more than a moral argument in the private sector, it’s an economic argument as well." |
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Welcome to the EuroCham Team! Yumi THY, Junior Finance Officer |
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A warm belated welcome to Yumi Thy, the newest member of the EuroCham finance team. Yumi joined the chamber in December, after earning a Bachelor's Degree in accounting at Vanda Institute. As a junior finance officer, Yumi works on processing invoices and working with the finance database to ensure all records are kept accurately and efficiently.
Yumi has already made her presence felt on the team and we look forward to helping her grow her professional career. Welcome, Yumi! |
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A Tour of Europe: Hungary |
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With Europe Week approaching in May and a Central & Eastern European Business Association Cambodia (CEEBAC) in the works for EuroCham, we'll start introducing the 27 nations that make up the European Union. First up is Hungary, a landlocked country in Central Europe that joined the EU in 2004 and has a rich cultural history.
At a glance: - Population: 9.7 Million
- Capital: Budapest
- Visitors per year: 25+ million
- Major industries: Electronics manufacturing and research
Fast fact: Hungary is the largest electronics producer in Central and Eastern Europe. |
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Stat of the week: 18 minutes per day spent by Cambodian men on unpaid care work |
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According to a 2018 ILO report (the last time this data was made available) women in Cambodia spent a total of 188 minutes per day on unpaid care work while men spent an average of 18 minutes. This represented the largest gender gap out of the 67 countries surveyed in the report. This idea was one of the key themes discussed at EuroCham's Afternoon Talk on Gender Equality, and remains one of the biggest barriers to achieving true gender equality. |
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Afternoon Talk and Networking on Gender Equality |
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EuroCham hosted an Afternoon Talk & Networking Night on Gender Equality on Tuesday, 7 March, where leaders from the private sector, public sector, and development sector came together to discuss the issue.
Key takeaways: - Investing in gender equality not only makes moral sense, it makes business sense, with reports estimating that $12 trillion could be added to the global economy by 2025 if gender-equality initiatives are pursued.
- While Cambodian law does feature gender-inclusive laws, much of the burden is put on the private sector to make an immediate impact. A first step is establishing clear company policies to set the framework for gender inclusiveness.
- Gender equality should be viewed as raising society up together, not just empowering women. By empowering women, men also benefit. On the same note, gender-inclusive policies should include men. For example, paternity leave should be considered for men as well.
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Board Member Etienne Kettenmeyer on Cambodia's Removal from FATF's Grey List |
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EuroCham Board Member and Executive Director of DFDL Etienne Kettenmeyer recently shared his thoughts with EuroCham on the important achievement of Cambodia being removed from the Financial Action Task Force's (FATF) Grey List. Mr. Kettenmeyer said the government worked hard to achieve this milestone, and there are positive effects that will be felt immediately.
"Being removed from this list will immediately ease banking relationships with Europe and North America, as approving a transaction with Cambodia will not be subject to potential sanctions and penalties for EU and US banks. All Fintech in Europe (such as Revolut or N26) shall accept transactions with Cambodia again, providing customers with a faster and more affordable service than commercial banks," he said.
He added that complying with local, regional, and international standards is expected in contemporary business, and this news will go a long way in increasing long-term investor confidence in the Kingdom. |
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Central and Eastern European Business Association in the works |
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The EuroCham team met with Deputy Head of Mission at the Embassy of the Czech Republic in Phnom Penh Roman Seidl and Hungarian Chargé d’Affaires Istvan Bakos on 7 March to discuss the formation of a national EuroCham chapter covering Central and Eastern European Union countries.
There is renewed interest in increasing bilateral relations between the region and Cambodia, as evidenced by the first-ever Cambodia-Hungary Business Forum held last year. Specifically, Cambodia could potentially benefit from imports of machinery products, health tech products, and fast-moving consumer goods from the region. Many Cambodians also study in the region, which could lead to improved business relations as well.
If you know of any companies operating in Cambodia from Central and Eastern European countries, please forward this form (also listed below) along to them! We look forward to welcoming a new chapter to EuroCham! |
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Cambodian Delegation Wraps up Participation in ITB Berlin |
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A Cambodian delegation participated in ITB Berlin, the world's largest tourism trade fair, for the first time this year, as 11 Cambodian companies, along with ministry officials, traveled to Berlin to advocate for tourism in Cambodia.
Cambodia has hopes to reinvent tourism in the Kingdom post-Covid, with major developments in Siem Reap, Kep, and Sihanoukville. The country is also further developing eco-tourism and hyperlocal tours, balancing development with sustainability.
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Welcome New Member! RoseMarvel Property Development
EuroCham is delighted to welcome RoseMarvel Property Development Co., Ltd under the BritCham chapter as our new member this year. RoseMarvel is one the leading property developers in Cambodia. We look forward to working alongside you in the future.
Welcome RoseMarvel Property Development to EuroCham! |
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Qatar Airways resumes flights to Phnom Penh |
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Qatar’s Group Chief Executive, H.E. Mr. Akbar Al Baker, announced at ITB Berlin 2023 that the airline will resume flights to 11 destinations, including Phnom Penh. The airline also announced that it will travel to seven new destinations in 2023. Qatar’s last flight to Phnom Penh landed in April 2020.
H.E. Akbar Al Baker said: “Qatar Airways is dedicated to enrich the global community which it serves. As the World’s Best Airline, we are excited to offer more ways of bringing the world together, increasing connectivity and bridging gaps within the travel industry. As we expand our fleet, network, partnerships and international presence we look forward to working together to deliver sustainable growth and a compelling future for the industry."
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EuroCham Attends GDT Meeting Covering Tax Filings and The removal of Cambodia from the FATF's Grey List |
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On Monday 6 March 2023, the EuroCham invited to partake in General Department of Taxation (GDT) workshop on tax obligations and the removal of Cambodia from the Financial Action Task Force's (FATF) Grey List.
H.E Kong Vibol, Minister attached to the Prime Minister and Delegate of the Royal Government in charge as Director-General of the GDT, said the removal from the grey list is a positive sign for Cambodia's economic development and proves that Cambodia provides a healthy environment for foreign investors. |
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Kickoff lunch for the 2023 Real Estate and Construction Forum |
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The leadership of the Real Estate and Construction Committee organized a meeting on 6 March to officially launch preparations for the Real Estate and Construction Forum scheduled for 23 May. Before the forum, on 25 April, the committee will host an exclusive CEO dinner (details to follow) during which the Real Estate and Construction chapter of the White Book will be released. |
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Europe Week Returns 8-14 May |
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Europe Week is back! Planned for 8-14 May, we have a full slate of European-themed events! - Throughout the week, we’ll be offering the Taste of Europe, a chance to for anyone in the city to receive tasty deals on European-themed restaurants in Phnom Penh.
- EuroCham will launch its Business Confidence Survey (last published in 2021), a comprehensive guide for business sentiment in the Kingdom.
- We will host an Export to EU Fair to showcase local products with potential for European markets.
- The Central & Eastern European Business Association Cambodia (CEEBAC) will host its official launch event.
- Lastly, we’ll host a food festival and a networking night round off the week.
It will be a week full of activities and we’ll soon provide more details. In the meantime, please take the time to fill out our Business Confidence Survey. |
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Breakfast Talk on Achieving Energy Efficiency: Policies and Best Practices |
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EuroCham’s Green Business Committee is pleased to invite you to a Breakfast Talk on Achieving Energy Efficiency: Policies and Best Practices, to be held on 17 March at Sofitel Phnom Penh Phokeethra. A collaborative effort between EuroCham and the Cambodia Energy Efficiency Competition (CEE Comp), the discussion will: - Introduce the CEE Comp; its history and methodology
- Increase awareness of the need to save energy
- Provide simple and cost-effective measures to reduce your energy consumption
Click the link below for more details. |
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CADT Human Resources Forum to Discuss Digital Talent and the Latest HR Tools |
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CADT will be hosting a full-day HR Forum on Thursday 16 March from 8:30 AM to 4:30 PM at CADT with the goal of delivering innovative methods to attract and nurture digital talent in an increasingly digital society. Participation is free of charge.
Among a long list of esteemed speakers, EuroCham Board Member and Chairman of the HR Committee Narath CHHEAV will present on HR Trends and Career Tips for Digital Talent in Cambodia. The first half of the day will focus on developing digital talent, while the second half will feature interactive workshops using new HR digital tools. |
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Food & Drink Free Flow Lunch @ Khéma |
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Khéma is a French café-restaurant and gourmet deli that specializes in offering high-quality meals without the hassle. They put an emphasis on preparing unforgettable gourmet deli goods as well as smart, economical dining in a cosmopolitan setting. Stop by to enjoy a delectable selection of breads, cakes, and pastries in addition to succulent cold cuts, sausages, and pies.
Khéma provides varieties of Free-Flow menus as such as:
- Free-Flow Breakfast everyday ($13.5++ per person) from 6:30am-10:00am,
- Free-Flow Lunch ($14.50++ per person) from 11:00am-3:00pm (Monday to Friday),
- Free-Flow Brunch on Saturday, Sunday and Public holiday ($21.50++ per person).
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Check out other EuroCham Member Restaurants: b. Consulting Hospitality & Hotel Solutions, Cambodian Country Club, Dara Hotels, Hagar Catering & Facilities Management, Himawari Hotel Apartments, Hops Garden, Hotel Cambodiana, Hotel KVL, Hyatt Regency, Il Forno Phnom Penh, Knai Bang Chatt, La Palmeraie d'Angkor, Le Flamboyant Boutique Resort & Spa, Oakwood Premier Phnom Penh, Raffles Hotel Le Royal, Rambutan Hotel and Resorts Cambodia, Rosewood Phnom Penh, Six Senses Krabey Island,Sofitel Phnom Penh Phokeethra, Sun & Moon, Urban Hotel, Thalias Hospitality Group, The Amanjaya Pancam Suites Hotel, The Balé Phnom Penh, TS Concept, TRIBE Phnom Penh Post Office Square |
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