Cambodia 20231204
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:
Embracing Authoritarianism for Stability: Hun Manet's First 100 Days
Boosting Prosperity Along the Mekong
Ambitious Funan Techo Canal Project
Pioneering the Future of Public Schools
Energy: Environment vs Economy
Charting a Startup Path to Sustainable Growth
Cashless Wave Sweeping Southeast Asia
Infrastructure Renaissance Under BRI Projects
Visitors Flock Back in Remarkable Numbers
Intra-Sector Diversification for Sustainable Growth
Huawei Sets Cambodia on Path to 5G Future
Cambodia-UAE See New Economic Dawn
Ream Naval Base Still Raising Eyebrows
Henry Kissinger is Dead
Embracing Authoritarianism for Stability: Hun Manet's First 100 Days
Hun Manet has completed his first 100 days as the country's leader, embracing an 'authoritarian' label allegedly for the sake of national stability. Manet's approach mirrors his father's, emphasizing the maintenance of peace and dismissing criticisms of authoritarianism as preferable to being perceived as weak, which he believes could risk civil unrest. Despite opposition criticisms regarding government corruption, income inequality, and the plight of indebted citizens, Manet has outlined ambitious plans for Cambodia's development, aiming to transform it into an upper middle-income country by 2030. His administration has also focused on increasing employment, reducing poverty, and promoting good governance. Concerns about political reform and democratic openness remain, as the government continues to target critics, and opposition voices question Manet's ability to govern independently of his father's influence.
Read more: RFA
Boosting Prosperity Along the Mekong
The six Mekong countries are deepening their economic ties. At a recent seminar in Chongqing, they discussed improving joint infrastructure connectivity and regional economic growth. The forum, themed 'Together on a Path to Happiness Nourished by the Shared River,' also saw the inauguration of the 'Lancang-Mekong Cooperation Legal Research Center.' Efforts are focused on reducing trade barriers, sharing technological skills, and strengthening regional and global supply chains, particularly through the Cambodia-China Free Trade Agreement.
Read more: Khmer Times
Ambitious Funan Techo Canal Project
The so-called “Funan Techo Canal”, planned to stretch 180 kilometers and coming with an expected total bill of USD 1.7 billion, is expected to transform the nation's economic landscape if it comes to fruition. Named after the ancient state of Funan, the canal is planned to connect the Mekong River to the coastal province of Kep, traversing four provinces. Designed for two-way traffic with ships up to 3000 DWT ( measure of how much weight a ship can carry - here’s a photo of a ship about that size), it aims to reduce transport costs significantly, boosting economic growth through the entire region. The project is hoped to transform the area into a fourth major economic center, complementing Phnom Penh, Sihanoukville, and Siem Reap.
Read more: Khmer Times
Pioneering the Future of Public Schools
The government has announced plans to transform 500 to 1,000 public schools into model institutions within two years. This plan focuses on improving school governance, curriculum, extracurricular activities, and student health. The initiative involves reforms from kindergarten to high school, emphasizing student achievement, community involvement, and school accountability. A national committee, led by the Prime Minister, will oversee implementation, with the first 50 to 100 schools set for transformation by April next year. These model schools will have autonomy in implementing curricula and extracurricular activities, focusing on holistic youth development, and the hope is that they set an example of how to further elevate the country's educational standards.
Read more: Khmer Times
Energy: Environment vs Economy
Cambodia is considering LNG imports as coal and hydroelectric projects face delays and environmental concerns. A major coal power plant in Oddar Meanchey province has seen construction halted, reflecting broader challenges in relying on fossil fuels. The Prime Minister has reaffirmed a ban on Mekong hydropower projects, citing significant ecological impacts. In an interesting report from Voice of American, waste from international brands like Adidas and Walmart is reportedly fueling brick kilns (sounds like a good idea!), causing severe health issues for workers (Oops!).
Read more: Energy Intelligence (LNG), Cambodia Daily (Coal), The Diplomat (Hydro Ban), VOA (Brick Kiln Pollution)
Charting a Startup Path to Sustainable Growth
The Techo Startup Center Digital Business Expo 2023 emerged as a useful forum for Cambodian startups, focusing on sustainable growth and leveraging digital tools and AI. Industry leaders discussed the importance of good governance, data-driven strategies, and understanding between startups and investors. The event left most participants optimistic for 2024, with technology (and particularly) AI set to ease startup operations and position Cambodian SMEs for regional competition and growth.
Read more: CIR
Cashless Wave Sweeping Southeast Asia
Southeast Asia is rapidly transitioning to digital payments. PwC highlights the region's growth in mobile ownership and digitalization, leading to innovative financial services like Cambodias KHQR, and Thailand's PromptPay payments. The digital economy in Southeast Asia, including countries like Singapore, Malaysia, and Indonesia, is expected to hit $1 trillion by 2030. Digital wallets are at the forefront, with a predicted growth from $22 billion in 2019 to over $114 billion by 2025.
Read more: CNBC, Malay Mail (KH-VN QR Payments)
Refer three friends and receive a full paid subscription to The Memo for one month absolutely FREE:
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.