Cambodia 20240219

Mekong Memo Cambodia Weekly: Business, politics, finance, trade & legal news.

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Headlines:

Push to Agricultural Leadership

Ministry and WFP Collaborate for Ag Progress

Phnom Penh Sets the Standard with Model Road Upgrades

Swedish Aid Withdrawal Stirs Concerns

Indonesia and US Support ASEAN 2045 Vision

Chevron Embarks on Service Station Expansion

Radisson and Novotel Enter Hospitality Scene

Thailand and Cambodia Work Toward a Unified Visa

Indian QR Codes, ABA/ Mizuho Tie-up

Aviation: New Airport Update, New Flights to Korea and Indonesia

Tourism Sector Booms with $3B in Revenue

A Guide to Warehouses and Factories

Thai-Cambodian Relations Reflect Broader Diplomatic Challenges

Diplomatic Roundup: Indo, Aus, NZ, Canada

A Closer Look at Art Market Challenges

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Push to Agricultural Leadership

Cambodia has set its sights on becoming a top ten global agricultural producer, shooting for upper-middle-income status by 2030 and high-income by 2050. Despite historical challenges, Cambodia's focus on agriculture and food security seems appropriate at this stage of the nation’s socio-economic development. With agriculture employing nearly half of the workforce and still being heavily reliant on rice production, the diversification and mechanization will be critical for success. As such, international collaborations and investments, particularly in technology and infrastructure, are being sought to overcome these hurdles and realize the country’s full agricultural potential. (Also see next article)

Read more: Bangkok Post

Ministry and WFP Collaborate for Ag Progress

The Ministry of Agriculture, Forestry, and Fisheries of Cambodia and the World Food Programme (WFP) are set to double down on their collaboration in the agricultural sector. Recent discussions aim to ensure food security and the development of modern agricultural communities capable of producing quality, large-scale outputs for high-value markets, while also addressing nutrition through school connections.

Read more: Khmer Times

Phnom Penh Sets the Standard with Model Road Upgrades

The Ministry of Land Management, Urban Planning and Construction, in collaboration with the Ministry of Public Works and Transport, has chosen three thoroughfares in Phnom Penh for development into 'standard model' roads. By using modern engineering techniques and climate-resilient materials to ease traffic congestion, enhance pedestrian safety, and attract investment, the project goes a long way towards the vision for 2050, focusing on urban beautification, efficient transport, and promoting tourism and business activities within the capital.

Read more: Khmer Times

Swedish Aid Withdrawal Stirs Concerns

Sweden's decision to conclude its bilateral development cooperation with Cambodia by the end of the year has sparked anxiety among civil society organizations reliant on Swedish aid. With an annual contribution of about $17 million, focused on human rights, democracy, and the rule of law, the shift raises questions about the future of these sectors in Cambodia. The move reflects Sweden's global aid reprioritization, partly influenced by the war in Ukraine, and represents a big shift for Cambodian NGOs facing potential funding shortages.

Read more: Voice of America

Indonesia and US Support ASEAN 2045 Vision

At a recent ASEAN event in Phnom Penh, Indonesia and the United States voiced their support for Cambodia's initiative towards the ASEAN Community Vision 2045. The discussion, focused on collaboration and regional growth, showcased Indonesia's role in Cambodia's goal to becoming a high-income country and the US's recognition of Cambodia's contributions as the 2022 ASEAN chair.

Read more: Khmer Times

Chevron Embarks on Service Station Expansion

Chevron (Cambodia) Limited has announced an expansion of its service station network in Cambodia, along with promising support to the country's initiative to explore oil reserves with Thailand. Currently, Chevron operates 53 Caltex-branded service stations in Cambodia.

Read more: Khmer Times

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Radisson and Novotel Enter Hospitality Scene

Both Radisson Hotel Group and Novotel are entering the Cambodian market, significant expansions in Southeast Asia's hospitality sector. Radisson plans to introduce the Radisson Red Phnom Penh and Radisson Blu Hotel & Residences within the Prince Happiness Plaza project, with a planned 2026 launch. Novotel has unveiled the Novotel Sihanoukville Holiday Resort, located on Independence Beach, featuring 215 keys, four dining options, and facilities designed for both leisure and business travelers.

Read more: Serviced Apartment News (Radisson), Hospitality Net (Novotel)