CAMBODIA-CHINA FRIENDSHIP CHROY CHAGVAR II BRIDGE INAUGURATED

the city and facilitate travel and goods transport between Phnom Penh and provinces in the river's eastern parts. "Through Chinese Ambassador to Cambodia Bu Jianguo, I would like to express my heartfelt gratitude to the government and people of China for providing both grant aid and concessional loans to Cambodia for connectivity infrastructure development," he said at the inauguration ceremony, which was attended by 10,000 officials, foreign diplomats, residents and students. The Prime Minister said connectivity infrastructure development is a key element for socio-economic development and poverty reduction in this Southeast Asian country. "China has played a leading role in assisting us in achieving this goal," he said.

CCoonnttiinnuueedd oonn ppaaggee ((22))

Prime Minister Hun Sen this week inaugurated a China-funded bridge across the Tonle Sap River, bringing the number of bridges built under China's aid in the kingdom to six. The 719-meter long bridge, dubbed the Cambodia-China Friendship Chroy Changvar II Bridge, is designed to ease traffic flow in the capital city of Phnom Penh. It took China Road and Bridge Corporation 37 months to build under a concessional loan of US$27.5 million from the Chinese government. The bridge connects the city in the river's western part to National Road No. 6 in the river's eastern part. Two roundabouts on each side of the river's bank and two access roads were also inaugurated. The Premier said the new bridge would play an important role in reducing traffic jams in

Prime Minister Hun Sen cuts red ribbon to inaugurate Cambodia-China Friendship Chroy Chagvar II Bridge and two roundabouts in Phnom Penh this week.

The plenary cabinet meeting held this week under the chairmanship of Prime Minister Hun Sen approved the draft budget law for 2016 worth in total 17,612,477 million Riel (some US$4.3 billion), said a press release of the Press and Quick Reaction Unit of the Office of the Council of Ministers.

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GOV'T APPROVES US$4.3 BLN FOR 2016 EXPENDITURES

ISSUE 42 : 19–25 OCTOBER 201 5

CAMBODIA LAUNCHES NATIONAL POLICY ON EMPLOYMENT 2015-2025

The official adoption of Cambodia’s first-ever National Employment Policy (NEP) has been welcomed by the head of the International Labour Organization (ILO) office for the country, according to an ILO’s press release.

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Weekly publication of the Royal Embassy of Cambodia to UK, Denmark,

Finland, Ireland, Norway, Sweden, Ethiopia and African Union

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CONSTRUCTION SECTOR RISES BY 13.75% IN 9 MONTHS

For the first nine months of this year, Cambodia attracted 1,532 construction projects worth in total US$1,752 million, up 13.75 percent from some US$1,540 million during the same period of 2014.

CCoonnttiinnuueedd oonn ppaaggee ((33))

CAMBODIA-CHINA FRIENDSHIP…..

Ambassador Bu said China has financed the construction of seven large-scale bridges in Cambodia. To date, six have already been constructed, and the 7th bridge across the Tonle Bassac River in southern Kandal province is under construction. "China is pleased to see the development of Cambodia and will continue to support the country in economic development and poverty reduction," she said. Meanwhile, the ambassador said under the China-proposed "Belt and Road" initiative, the path of cooperation between China and Cambodia will be broader.

DRAFT LAW ON CAMBODIA-BELARUS TRADE AND ECONOMIC COOPERATION AGREEMENT

The National Assembly (NA) of Cambodia has approved, during the NA’s fifth session of the fifth legislature, the draft Law on the Adoption of the Agreement on Trade and Economic Cooperation between the Government of the Kingdom of Cambodia and the Government of Belarus. A total of 109 out of 110 lawmakers present at the session, including Prime Minister Hun Sen, voted for the draft law of one chapter and three articles. According to the Ministry of Commerce, the agreement is aimed at promoting the development of trade and widening the economic ties between the two countries.

GOV'T APPROVES US$4.3 BLN FOR…..

Prime Minister Hun Sen chairs the weekly cabinet meeting this week in Phnom Penh.

MASSIVE BOOST FOR ELECTION BODY Funding for the National Election Committee (NEC) would increase a massive 300 percent as the country prepares for commune and national elections in the next few years under a draft of next year’s budget approved by Cabinet. According to the draft law, the government would increase the budget for the NEC by from US$7 million to US$28 million. The increase is needed to complete voter registration next year for the 2017 and 2018 elections. The NEC budget represents 1 percent of the government’s projected spending. The spending will cover administrative costs, support election reform and finish the digital voter registration. The process of voter registration will start next year in order to finish before the commune elections in 2017, followed by the national election the following year.

According to the draft bill, which needs to be passed by the National Assembly before year's end, the 2016's government spending is equal to 21.31 percent of the GDP. "The budget for 2016 is very important to ensure the average growth of 7 percent per annum, to accelerate poverty reduction, and to further enhance Cambodian people's livelihoods," said the draft law. The budget will be mainly focused on infrastructure investment, human resources development, economic development, national defense and health. The country will allocate US$1.43 billion of the budget for investing in public projects such as roads, bridges, railroads, ports, irrigation system, and other economy-driven projects, said the draft bill. It said the ministry of education will get US$500 million, up 28 percent year-on-year and the Ministry of Defense will get US$383 million, up 17 percent year-on-year. The Ministry of Health will receive US$274, up 8.6 percent, it said.

GLOBAL BRANDS WELCOME WAGE RISE

Major global brands that source from Cambodia welcome the recent rise in the basic minimum wage for the country’s more than 700,000

garment workers, representatives of three brands told. They have no plans to shift sourcing to other countries where wages are lower, they said.

The new minimum wage, which takes effect in January, will see garment workers receive $140 a month for 48-hour work weeks, up from the $128 now.

Spokespersons for US brands The Gap and Levis Strauss previously said they would work with factories here to ensure that they complied with minimum wage payments, while the Swedish retailer assured that Cambodia is an important production market for H&M, and it can contribute to jobs and reduce the unemployment in the country. Global brands say they remain committed to buying clothing and footwear from Cambodian factories.

ISSUE 42 : 19–25 OCTOBER 2015

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SPECIAL ECONOMIC ZONES ‘KEY TO FUTURE’

CAMBODIA LAUNCHES NATIONAL…..

The NEP, which covers the period 2015-2025, was formally launched by Prime Minister Hun Sen in a ceremony on 22 October 2015 at the Peace Palace in Phnom Penh, in the presence of senior government officials, employers’ and workers’ representatives and development partners. The development of the NEP was supported by the ILO and is the result of wide-ranging consultations that brought together 20 Government Ministries and agencies, employers’ and workers’ organizations and other key actors from the world of work. The NEP has three strategic goals; to increase decent and productive employment opportunities, to enhance skills and human resources development, and to strengthen labour market governance. The document outlines strategies to address the challenges of creating sufficient jobs to meet the needs of Cambodia’s young and growing population. It also stresses the need for these jobs to be decent and inclusive. According to ILO, this policy is very much in line with the new global framework outlined the Sustainable Development Goals. It focuses on Decent Work and economic growth and places job creation at the heart of economic policy-making and the national development strategy. It is already putting into action the 2030 Agenda for Sustainable Development.

CONSTRUCTION SECTOR RISES…..

According to the Ministry of Land Management, Urban Planning and Construction, construction has seen steady growth every year thanks to investors' confidence in the country's political stability and business opportunities. Those projects include condominiums, residential units, commercial buildings, shopping malls, hotels and factories, among others. South Korea, China, Britain, Thailand and Japan are the top five investors in Cambodia's real estate and construction sectors. The construction sector is one of the four pillars supporting the country's economy. The sector attracted US$2.5 billion of investment in 2014.

Special Economic Zones (SEZs) have brought almost 70,000 new jobs to the country, according to an Asian Development Bank report released recently. With tax exemptions on production materials, lower profit tax, and renewable leases, the SEZs have drawn foreign-owned factories manufacturing everything from bicycles to electronics. The jobs created are for higher-skilled labourers and often offer better pay, slowing the flight of workers to job markets in Thailand. By leaving it to the private sector, it said, Cambodia has avoided the large and sometimes wasteful public sector set-up costs associated

with SEZ establishment in many other countries. Though the SEZs account for slightly less than 1 percent of the economy, analysts say they point the way for the country to diversify beyond the garment industry and into higher value-added industries that employ more skilled workers. According to a report of the Council for the Development of Cambodia, there are currently 34 SEZ projects being approved. Among them, 11 are in operation, and 2 are being build. They are the single window for import and export procedures and good infrastructure.

ACLEDA OPENS E-COMMERCE PORTAL Acleda Bank Plc, Cambodia’s leading commercial bank, has launched its Acleda E-Commerce Payment Gate which offers another alternative for its customers to conduct business through the Internet. The E-commerce gateway provided new opportunities for merchants to sell online and for credit card holders to buy instantly worldwide. The system will allow merchants across the country to sell their goods online securely and safely. “Using the service will save time, minimize the risk of keeping cash – including under or over-counting cash – and counterfeit notes, and reduce the environmental pollution of traffic,” it said.

Acleda is partnering with locally-owned Worldbridge Group. The bank will deal with the cash side and Worldbridge will handle logistics.

The Ministry of Commerce plans to finalize a draft law on E-commerce by the end of the year to regulate electronic trade ahead of the start of the ASEAN Economic Community common market from the end of the year. The Cambodian E-commerce Law will regulate online agreements and online signatures in accordance with international standards

According to the Ministry of Posts and Telecommunications, Internet usage grew more than 42 per cent last year, while the number of Internet subscribers by end of June this year accounted for more than one-third of the population, and will continue to grow at a fast pace.

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V I S I O N S O F C A M B O D I A

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Visions of Cambodia is produced by the Press and Information Unit, Royal Embassy of Cambodia 64 Brondesbury Park l Willesden Green l London NW6 7AT l United Kingdom l Tel: +44(0)208 451 7850 l Email: cambodianembassy@btconnect.com l www.cambodianembassy.org.uk

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LLuummpphhaatt WWiillddlliiffee SSaannccttuuaarryy

Lumphat Wildlife Sanctuary is the part of Mondulkiri wildlife

sanctuary, is one of Cambodia’s natural wonders. Located in

the northwestern provincials of Mondulkiri and Ratanakiri

province. It has an area 2,225 kilometer squares, the area has

been charming tourists with its picturesque forests and

tranquil surroundings. It’s also a haven for a wide range of

wildlife, including some endangered species.

Lumphat Wildlife Sanctuary contains range of mountains, a

mix of forests and lowlands. This is interspersed with prairies,

ponds and water channels from Tonle Sre Pok River. It

provides ideal shelter for large mammals such as elephants,

bantengs, gaurs, tigers, and wildlife buffalos, as well as bears,

bovid and other smaller carnivores and primates.

According to a survey by WWF in 2001, the forest has roughly

a dozen large wild animal species. There are around a hundred

bird species here, including waterfowl.

Besides providing shelter to a diverse range of wildlife, the

Sanctuary is also home of more ethnic minorities, mostly from

the Phnorng minority. They make their living entirely from the

park’s natural resources, utilizing natural resins, vines rattans,

herbal trees, and forest products.

Visitors can also trekking by riding elephants, a facility offered

by the Phnorng minority.

ISSUE 42 : 19–25 OCTOBER 2015