Day: March 28, 2024

The Ministry of Water Resources and Meteorology (MOWRAM) has forecast rain accompanied by thunder, lightning and gusts across the country from Mar. 28 to 30.

According to the ministry’s new weather forecast released this morning, rain would cover 10 to 25 percent of the area in central lowland regions, 20 to 30 percent in highland areas, and 10 to 20 percent in coastal areas.

Regarding the temperature, added MOWRAM, during the said period, it would vary between 26 and 38 degrees Celsius in the central lowland areas, from 24 to 37 degrees Celsius for highland areas and between 25 and 35 degrees Celsius for coastal regions.

Source: Agence Kampuchea Presse

The United Nations Industrial Development Organisation (UNIDO) has partnered with the Ministry of Industry, Science, Technology and Innovation (MISTI) to embark on the creation of an eco-industrial park (EIPs) in Cambodia. The initiative aims to foster sustainable industrial development by integrating environmental protection, resource efficiency, and economic prosperity.

This cooperation was discussed in a meeting held here on Mar. 26 between H.E. Hem Vanndy, Minister of MISTI and a UNIDO delegation led by its Country Director Mr. Sok Narin.

UNIDO has received approval from the Swiss Agency for Development and Cooperation to launch a scoping mission for the development of a green industrial park in Cambodia.

Ongoing missions led by the head of Indonesia-based UNIDO Technical Advisor will consult with stakeholders to assess potential SEZs for project implementation.

Consultants will study 6 to 10 SEZs based on UNIDO’s 64 standards to select a SEZ for the Green Industrial Park project.

This one-year pi
lot project has the potential to serve as a model for promoting the development of green industrial parks in other parts of Cambodia.

Mr. Sok Narin said that the Green Industrial Park focuses on implementing the principles of circular economy and optimising the use of resources, and UNIDO will build on its expertise from the implementation of green industrial park projects in seven countries, including Vietnam and Indonesia.

For his part, H.E Hem Vanndy lauded the project, saying that the strategic location of the special economic zone for the pilot project should be based on Cambodia’s competitive advantage to ensure the success of the project.

Source: Agence Kampuchea Presse

Samdech Akka Moha Sena Padei Techo Hun Sen, President of the Supreme Privy Council to His Majesty the King, has lauded China’s key role in the development of countries from Asia, Africa to Latin America.

Samdech Techo made the remarks in his keynote address at the opening ceremony of the Boao Forum for Asia Annual Conference 2024, held in Hainan province, the People’s Republic of China on Mar. 28.

The former Cambodian Prime Minister emphasised that the common responsibility in Asia is to maintain peace and security in the region to ensure poverty alleviation and future development for common prosperity. Asia has achieved tremendous development and has played a leading role in growth, especially during a difficult period of global economic downturn. Asia’s strong economic growth and position as the world’s manufacturing and trade hub have given Asia an important global role, despite the slowdown in the global economy and the recent supply chain restructuring. Overall, Asia’s economy is expected to contribute
60 percent of the world’s GDP growth in the coming year.

‘In this sense, our region needs to work together to maintain a positive momentum, our actions must be guided by the principles of multilateralism, based on the rule of law that applies to all of us, not to any group of countries. We must continue to strive for deeper integration and better connectivity, rather than push for disconnection and blockade. We must recognise that multilateralism is a principle that supports globalisation, sustainable development and poverty reduction that are of real benefit to our world today,’ he underlined.

Samdech Techo Hun Sen said that the Belt and Road Initiative has supported the construction of public infrastructure on continents. These infrastructures are an indispensable part of the efforts to develop and reduce poverty of the people of the beneficiary countries, including Cambodia. ‘We must recognise that China’s model of growth and development has allowed other countries to prosper together, not abandon other
countries for their own growth,’ he added.

‘It is our shared responsibility to promote inclusive growth in a multilateral international order based on the rule of law that gives every country, large and small, the opportunity to stand out, grow and prosper. […] We must work to protect multilateralism that supports the community interests, so that people around the world can enjoy peace and a better quality of life,’ stressed Samdech Techo Hun Sen.

Source: Agence Kampuchea Presse

His Majesty Preah Bat Samdech Preah Boromneath Norodom Sihamoni, King of Cambodia, and Her Majesty the Queen-Mother Norodom Monineath Sihanouk returned home this afternoon after spending about a month in China for their routine medical checkup.

Their Majesties the King and Queen-Mother were welcomed upon their arrival at Phnom Penh International Airport by Senate President Samdech Vibol Sena Pheakdei Say Chhum; National Assembly President, Samdech Moha Rathsapheathika Thipadei Khuon Sudary; Prime Minister Samdech Moha Borvor Thipadei Hun Manet; and many other high-ranking officials as well as royal family members and Chinese Ambassador to Cambodia H.E. Wang Wentian.

The Cambodian monarchs’ last routine medical checkup in China was between Aug. 28 and Sept. 30, 2023.

Their Majesties the King and the Queen-Mother always have their medical checkup in Beijing. They always receive warm hospitality from Chinese medical doctors and leaders.

Source: Agence Kampuchea Presse

Phnom Penh, 28 Mar 2024 – Visa, a world leader in digital payments, has released findings from its latest Visa Consumer Payment Attitudes study , indicating an opportunity for Cambodians to embrace digital payments, as they keep pace with their Southeast Asian neighbors.

As Cambodia continues its journey in adopting digital payment modes, 23% of Cambodians who were surveyed reported going cashless in 2023. Cambodia leads the region in using internet banking for payments – with 82% of respondents using internet banking most frequently for bill payments, convenience store purchases and food and dining. 72% said they use a banking app, led by Gen Z, for mostly peer-to-peer money transfers and bill payments.

Consumers have also noticed an increase in cashless acceptance. The study found that 75% of surveyed respondents said they observed more stores accepting mobile wallet payments compared to a year earlier.

‘We are accelerating acceptance expansion among small and medium-sized businesses (SMBs) by bolsteri
ng merchant partnerships, introducing new acceptance technologies, and supporting digitization of government platforms,’ said Ms. Ivana Tranchini, Visa Country Manager for Cambodia. ‘The convenience and safety of digital payments and platforms can help SMBs acquire more customers and grow their business.’

Visa’s data supports this development, as digital payments continue to grow among Cambodian consumers. For instance, VisaNet data shows that payment volume of Visa cards issued in Cambodia across all payment methods, both domestically and cross-border, rose 22% year-on-year in the fourth quarter of 2023, while the number of monthly domestic contactless transactions made on Visa cards increased 16% year-on-year in December 2023.

Ms. Tranchini added: ‘A collaborative approach is key as countries navigate digital transformation. We look forward to working with our public and private sector partners to continue raising awareness about the benefits of digital payments. This will help Cambodia keep pace with our
regional neighbors. Interoperability is critical in driving the adoption of digital payments and creating seamless payment experiences. At Visa, we are committed to providing secure and convenient digital payment solutions and providing inclusivity in enabling digital payment adoption by facilitating consumers, businesses, and the entire economy to participate in the journey.’

An example of supporting the growth of Cambodia’s payments ecosystem was Visa’s launch of the National Net Settlement Service in Cambodian Riel (NNSS KHR) program in 2021. This enables the settlement of funds in Cambodian Riel through VisaNet Settlement Service. NNSS KHR is a secure and scalable domestic processing solution that combines the Visa global network with local currency settlement, providing operational reliability and reducing clients’ foreign currency risk exposure.

Source: Agence Kampuchea Presse