Cambodia 20240930: Ascetic, Penumbral, Extramundane

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

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Headlines:

Strong Ties with China Despite Western Leanings

Deforestation Exposer Faces Deforestation Charges

Calculating the Economic Impact of Scams

CanCham Cambodia Welcomes New Leadership

French Collaboration on Hospital Feasibility Study

New Pub Street for Phnom Penh Nightlife Scene

Trade Growth in ASEAN, RCEP, and Japan

Global Ties: CN, US, VE, TM, EG, HU, KG

Clean Energy Investment Push

WB Approves $80 Million for Higher Ed Reform

IFAD in $194 Million Agreement for Ag Growth

Tourism Recovery Boosted by Regional Visitors

Construction Sector Drives Iron and Steel Imports

The Rise and Fall of Sihanoukville’s Casino Boom

ADB Predicts Steady Growth, Lower Inflation

Chinese FDI Wooed with Tax Incentives

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Strong Ties with China Despite Western Leanings

Despite Cambodia's recent moves to improve relations with the West, especially its stance on the Ukraine conflict, its ties with China remain solid. Cambodia’s leadership has chased a foreign policy of diversification, balancing relations with both powers. While Cambodia sided with the West on Ukraine, other factors, such as naming a road after President Xi and continuing Chinese-backed infrastructure projects show that Sino-Cambodian relations are still healthy and of significant importance.

Read more: The China-Global South Project

Deforestation Exposer Faces Deforestation Charges

Journalist Ouk Mao, known for exposing land grabs and deforestation by mining company Lin Vatey in the Phnom Chum Rok Sat community forest, has been charged with deforestation and incitement. Despite no evidence being presented, Mao is now under judicial surveillance. This follows a pattern in Cambodia where environmental activists and journalists are increasingly being accused of crimes they report on, as courts are allegedly used to silence critics and suppress dissent against well-connected individuals and companies.

Calculating the Economic Impact of Scams

Laos and Cambodia, despite having substantial illegal scamming industries worth billions, do not include these activities in their GDP data. Estimates suggest Cambodia’s scam industry is valued at $12.5 billion annually, nearly half of its formal GDP. Some nations, like Italy, have historically included criminal activity in economic data, raising the question of whether Cambodia and Laos should follow this controversial practice.

Read more: The Diplomat

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CanCham Cambodia Welcomes New Leadership

The Canadian Chamber of Commerce in Cambodia has introduced its new 2024 leadership team, with Emily Yu taking on the role of Chairwoman. Yu, who has extensive experience in business development and sustainability, spoke about her vision for improving collaboration between Canadian businesses and the local market. The chamber works to improve trade and relations between Cambodia and Canada, focusing on investment opportunities, sustainable business practices, and market expansion.

Read more: Cambodia Investment Review