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Import-export activities in Sihanoukville Special Economic Zone (SSEZ) rose nearly 40 percent to US$1.37 billion in the January-June 2022, the operator’s report showed this week.

“SSEZ has maintained stable development along with the effort by employees, which pushed up the import-export value by 38.23 percent year-on-year,” read the report.

In 2021, total trade in SSEZ was valued at US$2.23 billion, up 42 percent from US$1.56 billion a year earlier, according to data provided by the operator.

The special economic zone was set up by Hodo Group from Wuxi, Jiangsu province. The two provinces have identified Sihanoukville Special Economic Zone as a bridge and a platform for deepening exchanges in the fields of economy, trade, education, health and infrastructure which have achieved proud results and established close cooperation.

Sihanoukville Special Economic Zone has attracted over 170 enterprises and private institutions from China, Europe, the United States, Southeast Asia and other regions, creating about 30,000 jobs.

The SSEZ has also provided a lot of benefits and jobs to Sihanoukville, reduces migration and poverty, and also acts as a gateway for trade and comprehensive international trade cooperation in the region and the world.

Source: Agency Kampuchea Press

The Cambodia Microfinance Association (CMA) and the Social Performance Task Force (SPTF) have partnered on strengthening client protection in Cambodia’s financial services.

The two parties signed the agreement on July 22 at the Hyatt Regency in Phnom Penh along with senior management from the National Bank of Cambodia. Financial inclusion stakeholders from around the world joined the event virtually.

Increasing client protection is a priority under Cambodia’s National Financial Inclusion Strategy for long-term market sustainability, senior official at the National Bank of Cambodia said.

“Building trust on formal financial services remains crucial to increase financial inclusion in Cambodia and ensure the stability of the whole banking system while customer protection is the priority for all stakeholders,” said Mr. Kith Sovannarith, First Deputy Director General of Banking Supervision with the National Bank of Cambodia.

The new partnership, a first of its kind, will help chart a roadmap for responsible growth, financial stability and customer protection in Cambodia’s microfinance and broader financial sector, said Mr. Nitin Madan, the SPTF Director of Responsible Inclusive Finance Facility for Southeast Asia (RIFF-SEA).

“The CMA and its members can also apply for co-financing for implementing and strengthening capacity on responsible, inclusive finance practices of financial service providers in Southeast Asia,” Mr. Nitin Madan added.

The Cambodia Microfinance Association is a nonprofit sector association, with more than 120 member organisations, established to ensure that Cambodians receive formal financial services in a timely and sustainable manner.

The CMA works with microfinance institutions, banks, financial leasing institutions and rural credit institutions which also engages with regulators, national and international donors, creditors, investors and other stakeholders.

The recently adopted banking and financial sector Code of Conduct led by CMA promotes the adoption of international best practices in Cambodia to reiterate the commitment of financial institutions to clients and promote a healthy reputation of the sector.

“This partnership aims to strengthen responsible inclusive practices from a risk management perspective to promote responsible growth, enhance financial stability and increase consumer protection,” said CMA Chairman Mr. Sok Voeun.

Source: Agency Kampuchea Press

Cambodia’s State News Agency – Agence Kampuchea Presses (AKP) and Bulgarian News Agency (BTA) have renewed their cooperation focusing on daily exchange of English news contents.

The agreement was signed here at the AKP’s headquarters on July 22 between AKP Director-General H.E. Mrs. Sokmom Nimul and visiting BTA Director-General H.E. Mr. Kiril Valchev.

Under the partner agreement, the two parties provide each other and guarantee the right to receive, to use, to translate and to emit the full number of information emissions of the other party in English, free of charge, except for products of third parties object to protected rights.

Each party shall provide the other party with one of its major daily news items, which the other party shall publish on its distribution channels, with free reading by all visitors to the respective sites, with explicit reference to the sources, it stated.

Concerning cooperation, collaboration and exchange of experience, the parties engage to organise and h?ld professional visits of journalists and other professionals from the sphere of media.

Speaking at the signing ceremony, H.E. Ms. Sokmom Nimul lauded the agreement, stressing that it will contribute to spreading the real situation and current development of Cambodia to the eastern EU country.

“Interested news contents on investment, tourism, culture, and trade of Cambodia will be widely spread in Bulgaria,” she said.

For his part, H.E. Mr. Kiril Valchev said that besides the news content exchange, the two state news agencies will see the exchange of their journalists to cover interested major events in each other countries.

AKP has so far reached cooperation agreements on information exchange with leading news agencies in China, Vietnam, Russia, Thailand, South Korea, Italy, Lao PDR, Cuba and so on.

AKP and BTA first signed their cooperation agreement in 2016.

Source: Agency Kampuchea Press

Cambodia and Pakistan have exchanged mutual appreciation and are committed to continue the close cooperation between their armies.

The commitment was made by H.E. Vong Pisen, Commander-in-Chief of the Royal Cambodian Armed Forces (RCAF), and Mr. Colonel Muhammad Tayyab, Pakistani Defence Attaché on July 21 here in Phnom Penh.

Mr. Colonel Muhammad Tayyab underlined that the enhancement of regional and bilateral cooperation are very important to secure regional peace and stability.

The two sides also looked forward to the exchange of experience especially on counter-terrorism, espionage and military skills.

H.E. Gen. Vong Pisen expressed his appreciation of the cooperation of the two countries’ armies and asked the Pakistani side to help with some training for the Royal Cambodian Armed Forces.

Source: Agency Kampuchea Press

Twenty-six (26) Cambodian national Sepaktakraw and Chinlone athletes, of them 8 are female, departed on Wednesday for the 2022 King’s Cup Sepaktakraw World Championship in Thailand.

Mr. Cheat Khemra, coach of the Cambodian national Sepaktakraw and Chinlone team said the team is ready for the competition and they were well trained.

Cambodia aims to win gold medals from the tournament and this event will not only provide Cambodian athletes experience, but also help develop their capacity for the SEA Games 2023 in Cambodia, he added.

To take place from July 23 to 30, the world-class 2022 King’s Cup Sepaktakraw World Championship is expected to attract participation of athletes from 35 to 40 countries.

Source: Agency Kampuchea Press