Dear members, partners, and friends of EuroCham Cambodia,
After 52 newsletters in 2023, it’s time to start over at #1 again. We’re fortunate enough to kick off 2024 with an interview from H.E. Mrs. CHAM Nimul, Minster of Commerce, the first time we’ve interviewed a minister. Don’t miss it, she tells us about her first 100 days as Minister and shows why she thinks the future is bright for Cambodia, ASEAN’s current “rising tiger”. We’d like to thank Her Excellency for taking the time for the interview and we hope to continue to be able to bring you minister-level insights as we work more closely with the Royal Government on several initiatives.
Thanks you for taking the time to read this newsletter as well. We hope it offers you some valuable insight and please don’t hesitate to reach out to me (pr.officer@eurocham-cambodia.org) if you have questions, concerns, or story ideas.
In the meantime, we hope to see you at our annual New Year’s celebration, the Toast to 2024, happening Friday, 12 January at Seekers Independent Spirits. It’s a bit south of the city, but the ambiance is perfect for casual indoor/outdoor gathering and you’ll have a chance to connect with the chamber’s stakeholders from both the public and private sectors. See you there! |
|
| Interview with HE. Mrs. CHAM Nimul, Minister of Commerce |
|
|
|
For our first interview of the year, we had the pleasure of interviewing HE. Mrs. CHAM Nimul, Minister of Commerce. Read our exclusive interview to learn about the new minister's first 100 days of office, and how she sees the future of the EU-Cambodia relations, among other topics. |
|
"We are ASEAN's rising tiger, a stable haven with a young, skilled workforce and competitive costs. But what truly sets us apart? Our people." |
|
EuroCham bids farewell to former RBH Coordinator Sara Monti. In just over a year, Sara helped nurture the Responsible Business Hub into a leading voice on sustainability in Phnom Penh and beyond. From public-private dialogues and the CSR awards to giving speeches around the world on sustainability topics, Sara’s work was instrumental to the RBH’s success. Not to mention, she was always a pleasure to work with and a positive force that boosted everything EuroCham does. You will be missed Sara! |
|
Sivheng HOENG joined Sara in her mission to build and promote the RBH and was likewise instrumental in its success, managing the website and doing all the behind-the-scenes work for the hub, as well as being MC for several events. Sivheng was key to the success of the RBH and also a key part of the wider EuroCham team, often helping with other departments as well. We wish you the best Sivheng! |
|
Meet Stefania State, the recently hired RBH coordinator. Stefania has broad experience in the sustainability field, acting as public manager for the Romanian government from 2013 to 2017, during which time she implemented the country’s national anti-corruption strategy. In Sweden, she served as Senior Supplier Code of Conduct Auditor for the largest telecom company in the country, conducting sustainability audits on suppliers. We’re all looking forward to working Stefania and seeing the RBH grow further. If you see her around, please say hello! |
|
Visakha TOUCH joins Stefania as the RBH’s latest junior officer. After graduating from the Royal University of Phnom Penh with a Bachelor's of Education, she worked in various sectors including finance and strategy, retail training, and international branding. She most recently worked as a Senior Facilitator and Learning Design Manager at SHE Investments. In her new role, Visakha hopes to deepen her knowledge of sustainability practices in Cambodia. Welcome to the team Visakha! |
|
To reach upper-middle income status by 2030, Cambodia's income per capita needs to increase 238% from $1,700 (2022) to $4,046. This is according to the World Bank 2022 classification cited by Cambodia Development Resource Institute's (CDRI) recently published Cambodia Outlook Brief.
As the report notes, Cambodia's rapid economic growth realised during the 2010s was heavily influenced by a migration from rural to urban areas. Combined with the pandemic's economic effects, a slowdown in real estate, and global supply chain disruptions, the country faces an uphill battle to reach upper-middle income status by 2030. To achieve this, the report notes, the country will need to focus on sustainable, inclusive growth that favors long-term gains and policies that strengthen the skill and safety of the workforce. |
|
EuroCham, TAFTAC recommend opening up market for solar, renewables |
|
EuroCham recently co-authored a letter to the Electricity Authority of Cambodia and the Ministry of Mines and Energy commenting on the new draft regulations on "Installation and use of Rooftop Solar PV in Cambodia" and the draft procedures "For issuing, revising, suspending, revoking or denying generation license for rooftp solar pv installation service in Cambodia"
EuroCham congratulates H.E. Minister Keo Rotanak on the his 7th mandate plan, which stated a 71% share of renewable energy by 2030, among other progressive energy initiatives. Among its recommendations, the letter suggests removing the ban on financing and restrictions to loans or long- term finance contracts to maximize investments in solar development. It also recommends a simpler mechanism for compensation tariffs, such as a fixed percentage of the grid price to provide better clarity for potential investors.
The letter hopes that Private Rooftop Solar Systems can be added to the Energy Efficiency Strategy ambitions of the new Government of Cambodia, certainly enhancing chances for success of energy generated onsite. Garment factories, the tourism Industry and other manufacturers/service suppliers employ millions of Cambodians. Allowing these firms to benefit from solar power, attractivity and competitiveness of Cambodia’s industry will be greatly increased, generating at the same time tens of thousands of skilled jobs seeding the potential for a modern industry to emerge. |
|
Macron invites PM Hun Manet for first official visit to France |
|
Prime Minister Hun Manet will make his first official visit to France on 18 January, where he will meet with President Emmanuel Macron and other government institutions. The Prime Minister's visit is expected to broaden the countries' cooperation in business, defense, and culture. H.E. Hun Manet is also expected to speak at the Movement of Enterprises of France (MEDEF), a business organization comprised of entrepreneurs, to discuss foreign investment.
The Prime Minister will be accompanied by a delegation including H.E. Mrs. CHAM Nimul, Minster of Commerce and H.E. Mr. SOK Chenda Sophea, Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation. The Prime Minister will also be joined by a delegation of around 50 companies led by President of the Cambodian Chamber of Commerce Neak Oknha Kith Meng. |
|
FDI trending upward in Cambodia, ASEAN |
|
ASEAN continues to be the top destination for foreign direct investment (FDI), even as FDI inflows slow across the globe. According to fDi Intelligence, Cambodia carries the most investment momentum in the entire globe heading into 2024.
This trend is further backed up in a recently released ASEAN Investment Report published by the ASEAN Secretariat and the United Nations Conference on Trade and Development. The report notes that $224 billion flowed into ASEAN in 2022, an all-time record, despite global inflows decreasing 12% to $1.3 trillion. Read more about this trend in the in-depth report below. |
|
MC&CO Prevention is dedicated to elevating workplace safety in Cambodia. With certified training programs (OHS, FAI, and CPR), recognized by the national's authorities, they believe everyone deserves a secure work environment. They also help with the creation, development, or auditing of workplace's Occupational Health and Safety (OHS) implementation. |
| | Read More |
|
|
Since its founding in 2020, Print & Pack has aimed to elevate "made in Cambodia" to a level that will make both our employees and customers proud, while also developing an industry in which experience is passed down from foreigners to younger Cambodian machine operators, with foreign master printers brought in from overseas to train Cambodians on the job.
The company can assist you in changing your package to a more sustainable one by using solely water-based ink on ecologically friendly paper. |
| | Read More |
|
|
All Dreams Cambodia awards Travelife Certified |
|
All Dreams Cambodia has been awarded the Travelife Certified, indicating that the company has met more than 200 sustainability-related requirements relating to sustainable internal office administration, product variety, international business partners, and consumer information.
Congratulations to All Dreams Cambodia for their unwavering commitment and dedication! |
| | Read More |
|
|
Welcome to "Bumrungrad's Better Health Briefs"
At Bumrungrad International Hospital, Bangkok, our commitment to exceptional care is at the heart of everything we do. We believe that our patients deserve nothing but the best, and this ethos drives our continuous pursuit of excellence. As one of the most recognized names in healthcare, Bumrungrad stands as a beacon of innovation and outstanding medical service. Our internationally accredited facility is not just a hospital; it is a testament to our dedication to the health and well-being of our patients.
In this spirit, we are excited to introduce "Bumrungrad's Better Health Briefs" – a series dedicated to empowering you with health knowledge and insights. We understand that health is the most precious commodity, without good health, everything else suffers. That is why we believe in going beyond treating illnesses; we are committed to educating and inspiring our community towards better health and wellness.
Through this series, we will explore a range of topics, from preventive health measures and wellness tips to the latest advancements in medical treatments and technologies. Our goal is to provide you with valuable information that not only enlightens but also encourages you to prioritize your health in your daily life.
Join us on this journey of health and discovery. Whether you are seeking to improve your overall well-being, manage a specific health condition, or simply stay informed, "Bumrungrad's Better Health Briefs" is here to guide you. Because at Bumrungrad, we do not just care for you; we care about you. |
|
The Ministry of Economy and Finance issued Prakas No.788 on the Pre-Arrival Processing Procedure, set out the procedure for Cargo Declaration and Pre-Arrival via the online system. This prakas applies to all imports and transits via all type of means of transportation.
The new prakas is in line with White Book recommendation #3 on Pre-arrival processing, which recommends implementing regulatory and operational measures to encourage pre-arrival processing.
Click the link below to read for more details! |
|
The Toast to 2024 is a week away! Register below and join us for a laid-back night of networking in a gorgeous setting with free flow cocktails and food.
𝐄𝐯𝐞𝐧𝐭 𝐃𝐞𝐭𝐚𝐢𝐥𝐬: 📅 Friday, 12 January 2024 ⏰ 18:30-22:30 🗺️ Seekers Independent Spirits Member price: $35 Standard ticket: $50 |
|
|
