Dear members, partners, and friends,
I am delighted to kick off our weekly newsletter with exciting updates from the Responsible Business Hub.
Our most recent achievement includes hosting the final Public-Private Dialogue (PPD) Event of the year, focused on the crucial topics of Responsible Wage and Digitization in Cambodia. This remarkable event was co-hosted by the exceptional teams of Better Factories Cambodia (BFC) and RISE.
Esteemed guests, including H.E. Sovann Vannaroth, Secretary of State, Ministry of Labour and Vocational Training (MLVT), Mr. Heng Bomakara, First Deputy Director General, National Bank of Cambodia (NBC), and representatives from the private sector and international NGOs, enriched this important initiative.
The event focused on the myriad ways in which workers, particularly women who make up around 80% of Cambodia's garment workforce, can benefit from enhanced financial literacy and the digitization of wages.
As we celebrated the first anniversary of the Responsible Business Hub during this PPD, it marked a milestone in our ongoing commitment to advocating for human rights and environmental due diligence (HREDD) in Cambodia. Excitingly, I am thrilled to announce that this impactful project will extend into 2024 and 2025, thanks to the continued collaboration with our valued partner, GIZ FABRIC.
On a personal note, I take this opportunity to officially announce the conclusion of my mandate as RBH Coordinator. A heartfelt thank you goes out to the entire EuroCham Team, GIZ FABRIC, and TAFTAC for their incredible support in the development of this remarkable initiative, the Responsible Business Hub.
Best wishes, and have a great weekend ahead. |
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| Interview with Mr. Dean Rizzetti, Energy Policy Director at Energy Lab Cambodia |
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This week we interviewed Mr. Dean Rizzetti, Energy Policy Director at Energy Lab Cambodia. Energylab Cambodia is an innovative and efficient, non-profit organisation, working to support the growth of Clean Energy markets. Mr. Rizzetti is an experienced program manager and policy expert working in the fields of climate change, energy, and land use. Read this interview to find out more about how EnergyLab is supporting Cambodia’s transition toward clean energy. |
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"The government has set a clear direction for renewable energy, which is vital to attracting investment from the private sector. But ambition is only the first step, and we need the private sector to come forward with good renewable projects." |
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| Stat of the week: Cambodia aims for 70% renewables by 2030 |
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Minister of Mines and Energy H.E. KEO Rottanak has pledged to increase Cambodia's renewable share of its energy capacity mix to 70% by 2030, a marked increase from the goals set in last year's Power Development Plan. If that goal is achieved, it would make Cambodia a global leader in terms of renewable energy. For comparison, Thailand's current installed renewable capacity sits at about 23%.
Read more analysis from a meeting at the ministry on Monday below. |
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RBH hosts dialogue on digital wages and celebrates one-year anniversary |
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On 6 December, the RBH, in collaboration with RISE, Better Factory Cambodia (BFC), and GIZ FABRIC Cambodia, hosted its final public-private dialogue of the year on Responsible Wage and Digitization: Empowering Cambodian Industry, followed by a celebration of the RBH’s first-year anniversary. Read about the event below. Congratulations to RBH Coordinator Sara Monti (pictured, centre right) and RBH Junior Officer Sivheng Hoeng (centre left) for all your hard work! |
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Energy Minister calls for 70% renewable energy by 2030 |
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Minister of Mines and Energy H.E. KEO Rottanak (pictured) made clear his plans on Monday to push even harder for renewable energy than was unveiled in last year’s Power Development Plan. At a meeting at the ministry’s headquarters which included international chambers, World Bank representatives, ADB reps, and embassy reps, the minister said he’s aiming for 70% of the country’s energy capacity to be supplied by renewable energy (hydro, solar, and biomass) by 2030.
This ambitious plan would make Cambodia a global leader in the field, and the strategy includes a regional interconnected “smart grid” which the minister called upon international development financiers to help fund. Could this also open the door for solar energy? While it’s clear imported LNG remains a big part of the plans to keep up with domestic energy demand, the future on solar remains less of a sure bet.
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EuroCham, UN Cambodia, and EUD tackle gender equality during 16 Days of Activism to end Gender-based Violence |
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The afternoon talk on the Private Sector’s Role in Investing Against Gender-Based Violence attracted over 100 guests (including UNFPA Cambodia Representative Sandra Bernklau, pictured) who are often on the frontlines of this battle at their respective jobs, and they had the chance to offer their experiences during a workshop which sought to bring together best practices. In short, women need to feel empowered and safe to report violations while society as a whole works on preventing these issues and responding effectively when they do occur. |
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EuroCham Chairman Tassilo Brinzer visits Thailand with EU-ABC Delegation |
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EuroCham Chairman Tassilo Brinzer was in Thailand this week, meeting with government agencies in his role as Vice-Chairman of the EU-ASEAN Business Council. Key highlights from the meeting include Thailand’s plan to offer a special visa for digital nomads from the world’s top 600 universities to be able to live and work in Thailand for up to year. It’s a move that will draw talent to the country, and the blueprint may be worth following for countries in the region such as Cambodia. |
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Training Academy completes two-day AI bootcamp workshop |
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EuroCham held its highly anticipated AI training on Thursday and Friday this week, introducing an eager group of trainees from several sectors to the nuances of the now mainstream technology on the tip of everyone’s tongue. Trainers Tom Hesketh (pictured, left) and Ali Syed (pictured, right) learned about prompt engineering and the potential of AI to help with a wide variety of chores – from transforming mundane social media posts and emails to creating entire videos and business reports. We won’t give all the secrets away here, but stay tuned for round 2 of this course! |
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GIZ's multi-year $5M ASEAN AgriTrade project on sustainable agriculture comes to a close |
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GIZ’s AgriTrade Project, a $5 million regional sustainable agriculture initiative covering seven ASEAN countries started in 2018, came to a close on 7 December at a ceremony attended by ministry officials, private sector representatives, and farmers.
The seven projects carried out in Cambodia covered several sectors, and resulted in the construction of solar dryer domes installed in Preah Vihear and Siem Reap which are used to dry peppers, a solar-powered cold storage room in Prey Veng, and projects that create compost from mango waste. Phase II of the project will start in April.
ASEAN Team Leader Frank Jattke (pictured, centre, with Advisor Channa Sok, right, and Moderator Youssey Lak, left) said to close the ceremony that one of the most important lessons learned learned was to focus on diversifying the sector instead of relying only on cashews. |
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First-ever Cashew Forum hosted in Kampong Thom |
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The first-ever Cashew Forum was held in Kampong Thom Province on 6-7 December, bringing together ministry representatives and public and private sector stakeholders to help promote the potential of Cambodia's cashew industry.
The forum is an important milestone, taking place after the National Policy on Cashews 2022-2027 was released last year. In attendance at the forum were EUD Ambassador to Cambodia H.E. Igor Driesmans (pictured), German Ambassador to Cambodia Stefan Messerer, and Head of Cooperation at the EUD Bryan Fornari.
For more information, find the press release below. |
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Unilever inaugurating new office and celebrating 20 years of successful operation |
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Unilever Cambodia, a leading fast-moving consumer goods company, celebrated its 20 years of successful operation in Cambodia and formally opened its new office in Morgan Tower on December 5. Annemarieke de Haan, Head of Unilever Thailand and General Manager of Home Care in Southeast Asia, was present. Unilever's new office ushers in a thrilling new chapter as they prosper in the expansion and development of the Cambodian market while continuing to have a good social effect. |
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On Monday, 4th December 2023, EuroCham's Real Estate & Construction Committee (REC) Committee held its last committee meeting of the year to discuss the organisation of the committee's flagship event: the Tall Building Forum, which will feature regional counterparts at EuroCham Vietnam next year.
Also discussed were two of the REC Committee's White Book recommendations on building standards and the ban of asbestos, as well as green building certifications and adoption of the EuroCodes. Read more about the latest Advocacy Compass updates below. |
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Electric vehicle registrations skyrocket in 2023 |
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The number of registered electric vehicles (EVs) has risen to 1,162 as of September this year, a big increase from the 662 registered in 2022 and the 63 registered in 2021. The breakdown includes 573 EVs registered, 387 tri-wheel motorcycles, and 202 e-motos. The number reflects a growing interest in EVs as the private and public sector begin to prioritize EV adoption in favor of traditional combustion engines. |
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RCEP resulting in noticeable export gains |
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The Regional Comprehensive Economic Partnership (RCEP) FTA has provided dividends for Cambodia in 2023, with the Kingdom netting $6.45 billion from exports to RCEP members through October this year. The top destinations were Vietnam, Thailand, Singapore, China, and Japan. The increase marks a 26.5% increase year-on-year gain from 2022. |
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TAFTAC holds tax forum with GDT |
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The Textile, Apparel, Footwear and Travel Goods Association (TAFTAC) held a tax forum on 6 December in collaboration with the General Department of Taxation (GDT) to discuss the importance of compliance in the garment sector. A key takeaway was that while compliance is imperative for the sector, the complexity of the laws needs to be addressed to ensure companies can stay on the right side of the tax law. |
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EuroCham's Toast to 2024 open for registration |
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We're happy to present the Toast to 2024, taking place 12 January at Seekers Independent Spirits. The event will include a DJ, free flow drinks and appetisers, and a lucky draw with prizes soon to be revealed!
Date: 12 January 2024 Time: 6:30pm - 10:30pm Price: Member: $35 Non-member: $50 |
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French Chamber of Commerce and Industry in Cambodia Gala Dinner |
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It's your last chance to register! Join the French Chamber of Commerce and Industry in Cambodia's Gala Dinner in celebration of the 70th anniversary of Cambodia's Independence and in honor of the Franco-Cambodian friendship. This prestigious evening will take place on Tuesday, December 12, 2023, at the elegant Sofitel Phnom Penh Phokeethra hotel.
Date: Tuesday, December 12, 2023 Time: 6pm-10pm Prices: $110 per person for members (Table of 8 people at $880) $130 per person for non-members (Table of 8 people at $1040) |
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EuroCham Members: 5% off Madama Butterfly tickets |
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We're inching closer to the Cambodian debut of Madama Butterfly, a famous opera by Giacomo Puccini that premiered in 1904 in Milan. The event will take place on 10 December at the 3,000 seat Koh Pich Theatre, with Gabriele Faja of the ICBA Arts Committee serving as director of production.
Use the promo code "Eurocham" in the link below to receive a 5% discount! |
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