Cambodia 20240422: Friction, Perpetuation, Sway

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

Apr 22, 2024

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Headlines:

Canal: No Need to Loop in Vietnam

Cambodia Marks 25 Years in ASEAN Club

New Boss, Same Playbook

Anti-Money Laundering Squad Beefs Up

Interior Ministry Shakes Up Org Chart

WB: Poorest Nations Have Ace Up Their Sleeve

First High-Tech Dairy Farm Moos into Action

Diplomatic Dance with East and West

Yale Prescribes a Dose of Health Economics

Protected Forests on the Chopping Block

Q1 Trade Report Card

Double Taxation in the Crosshairs

Exclusive Chinese Naval Pit Stop Ruffles Feathers

All-Riel Diet for Financial Freedom

First IOD Governance Workshop Sets the Bar

Singapot Statue Channels Singapore Merlion

Canal: No Need to Loop in Vietnam

The Funan Techo Canal project is still stirring up debate. The $1.7 billion plan to connect the Mekong River to the Gulf of Thailand by 2028 has some touting the economic benefits, while others are sounding the alarm over potential ecological and geopolitical fallout. Vietnam and the U.S. are worried the canal could give China a bigger military foothold, but Cambodia insists it won't harm the Mekong Delta's water resources and says it has every right to push ahead without anyone else's green light. The latest twist? Cambodia now says it has zero obligation to involve Vietnam in assessing the canal's impacts.

Read more: Khmer Times (Information Stance), Global Construction Review (Project Specifics), Cambodianess (Local Support), Voice of America (US and Vietnam Concerns)

Cambodia Marks 25 Years in ASEAN Club

Cambodia is celebrating a quarter-century as an ASEAN member, and it's been no slouch in promoting regional peace, stability, and economic growth. Despite the pandemic's economic gut-punch, Cambodia has kept growth above 5% per year. During its turns at the ASEAN helm, Cambodia championed big initiatives like the ASEAN Community Vision 2025 and the Regional Comprehensive Economic Partnership, boosting ASEAN's geographic and strategic reach. These efforts have earned props for strengthening cooperation within ASEAN and with global partners.

Read more: VietnamPlus (Achievements), Cambodianess (Peace Initiatives)

New Boss, Same Playbook

The political landscape is under the microscope as Hun Manet takes the reins from his dad, Hun Sen, keeping the family's grip on power and tight leash on civil liberties. Despite global side-eye, the elections that led to this passing of the torch were widely panned as… less than perfect. Hun Manet's regime, with China's backing, is doubling down on reining in the media and keeping the opposition in check, putting democratic norms at risk. The heat is on the international community, especially the U.S. and EU, to push back, but it remains to be seen how interested they are.

Anti-Money Laundering Squad Beefs Up

The Ministry of Justice has put together a new strike force to combat money laundering, terrorist financing, and funding of weapons of mass destruction. The task force boasts 51 members, including a chairman and a pack of vice-chairs, all charged with sniffing out risks and cooking up ways to stop bad actors in their tracks. The move is part of Cambodia's ongoing push to play by international rules and get off the Financial Action Task Force (FATF) grey list.

Interior Ministry Shakes Up Org Chart

The Ministry of Interior is hitting the reset button on its operational setup to boost efficiency and effectiveness. A new directive, in effect since April 11, 2024, shuffles the deck among 40 secretaries and over 30 undersecretaries. The goal is to streamline departmental functions and up the ante on public service, with a focus on transparency and accountability across the board, from ID services to fighting human trafficking.

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