Cambodia 20240603: Comprehensive, Engaging, Insightful
Mekong Memo Cambodia Weekly: Business, politics, finance, trade & legal news.
News from Southeast Asia directly to your inbox every weekday.
The Mekong Memo is proudly presented by:
Horton International offers reliable, effective solutions to recruiting and resourcing challenges for a diverse range of organizations, from small, privately held start-ups to leading Global corporations. With offices and experience throughout Southeast Asia, Horton International is your first choice for executive search in the region. Click the logo to learn more.
The Memo is published weekdays - Cambodia (every Monday), Myanmar (Tuesday), Laos (Wednesday), Vietnam (Thursday) and Thailand (Friday). The Thailand edition is free in its entirety; the others usually abbreviated for non-paid subscribers.
Please go to https://www.mekongmemo.com/account to select country editions you would like to receive without affecting your overall subscription status.
Headlines:
Cambodian Canal Project to Begin in August
Defence Minister Warns of A-P Security Woes
Expanding Trade and Digital Presence
Investment and Education Support
Chinese Media Tie-up and Journalist Training
Small-Scale Fishers Hit Hard by Illegal Trawling
Cambodia and China in Military Tango
Fighting Human Trafficking, Protecting Children
Aviation IPO and Türkiye Flights
Verify.gov.kh Platform Shines in Competition
PM Calls for Peace and Unity Against Extremism
Diplomatic Efforts: US, GB, TH, TR, PK, BD
Phnom Penh Road Renamed in Honor of Chinese President
Exploring New Cruise Tourism Opportunities
Cambodian Canal Project to Begin in August
It’s easy these days to identify the top story for The Memo, as the Techo Funan canal project is such a big project that will have a huge impact on the region. Reports this week indicate that Cambodia is set to start construction of the $1.7 billion canal this August, as announced by Prime Minister Hun Manet. The canal is supposed to link the Mekong River basin to the coast, promising big economic benefits like lower transport costs and a boost for local farmers, but it's not all smooth sailing - Vietnam is worried about the canal's potential use by Chinese warships and its impact on the Mekong Delta's water flow. Cambodia says it's all for national benefit and follows the Mekong Agreement rules. With local investors and possible Chinese backing, the project is part of China's Belt and Road plans. Despite the controversy, the Cambodian government says it’s all in, touting the canal's historic importance and potential to bring the nation together.
Read more: Cambodianess (project announcement), RFA (Vietnam concerns), Khmer Times (national unity), Business Times (Chinese backing), MyInd (environmental impact)
Defence Minister Warns of A-P Security Woes
At the Shangri-La Dialogue 2024, Defence Minister General Tea Seiha sounded the alarm on growing instability and security issues in the Asia-Pacific. He pointed to geopolitical rivalries, territorial spats, and the arms race, showing the need for regional teamwork through ASEAN. General Seiha wants to see stronger multilateral efforts to keep the peace and maintain stability, with ASEAN playing a bigger role in regional unity and security.
Read more: Khmer Times
Expanding Trade and Digital Presence
Cambodia is making moves to expand its economic reach and digital footprint. Foreign Minister Sok Chenda Sophea highlighted the huge potential of ASEAN's market under RCEP and AFTA during a visit to Türkiye, encouraging Turkish investments. Cambodia is also set to showcase local products on Alibaba's global platform, increasing trade opportunities. Finally, Cambodia has asked Vietnam to bump up bilateral trade to $20 billion, so we should expect some more talk about that initiative soon.
Read more: Cambodianess (ASEAN/ RECEP), Cambodianess (Alibaba), Fibre2Fashion (Vietnam Trade)
Investment and Education Support
In the investment space this week, Cambodia is on the hunt for Chinese investment in the electric vehicle sector to increase the number of EVs and build the requisite infrastructure. Separately, the World Bank has approved $79.5 million for education and $40 million for job skills improvement. Finally, Deputy PM Sun Chanthol is also working to attract Japanese investment to reduce economic reliance on China and upskill the local workforce.
Read more: Khmer Times (EV), Khmer Times (Education Funding), Nikkei Asia (Japanese Investment), ANA (Job Skills Project)
Keep reading with a 7-day free trial
Subscribe to The Mekong Memo to keep reading this post and get 7 days of free access to the full post archives.