The groundbreaking ceremony, held in Borey Chulsa district, Takeo province, was presided over by Cambodian Prime Minister Samdech Moha Borvor Thipadei Hun Manet and Chinese Ambassador to Cambodia H.E. Wang Wenbin.

The Funan Techo Integrated Water Resources Management Project is a landmark initiative in Cambodia’s waterway transport sector, aiming to connect the Mekong River system to maritime routes over a total length of 172.6 kilometres. The project is divided into two sections.

Section I covers 21 kilometres, while Section II extends over 151.6 kilometres. The waterway will be developed largely along natural and ancient channels that date back to the Funan period.

Construction of Section II is expected to take 36 months, with a total investment of approximately US$1.17 billion. The section begins at Prek Po on the Bassac River, continues through Prek Ta Hing in Koh Thom district, and extends to the sea in Kep province. The waterway will pass through and connect four provinces: Kandal, Takeo, Kampot, and Kep.

According to H.E. Sun Chanthol, Deputy Prime Minister and First Vice Chairman of the Council for the Development of Cambodia, the project reflects the strong commitment and collective efforts of the Royal Government and the Cambodian people. He described it as a testament to national solidarity and determination, aimed at supporting long-term economic and social development in the Kingdom.

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The pledge was made during a meeting between Samdech Moha Borvor Thipadei Hun Manet, Prime Minister of Cambodia, and Mr. Rémi Maumont de Longevialle, Chief Executive Officer of VINCI Airports, on April 8, on the sidelines of the “One Health Summit” in France, where the Prime Minister is attending and conducting an official working visit from April 6 to 9.

During the meeting, the CEO expressed his sincere appreciation for the Royal Government of Cambodia’s continued support of the company’s operations. He highlighted the strong partnership between VINCI Airports and Cambodia, and briefed the Prime Minister on the company’s business progress and future plans.

Mr. Longevialle noted that the company is focusing on strengthening cooperation with international airlines to expand direct flight connectivity to Cambodia, while also promoting the country’s tourism potential to attract more international visitors. He reiterated VINCI Airports’ commitment to contributing to the development of Cambodia’s aviation industry and exploring new opportunities to expand its investment and operations in the Kingdom.

In response, Samdech Thipadei Hun Manet welcomed the discussions and highly valued the company’s role and contributions to the development of Cambodia’s aviation sector. He also informed the CEO about the official launch of Techo International Airport and the Royal Government’s efforts to work with relevant institutions and the private sector to enhance Cambodia’s competitiveness.

The Prime Minister emphasised that expanding direct international flight connections remains a key priority for Cambodia. He encouraged VINCI Airports to continue strengthening cooperation with relevant ministries and stakeholders to explore new opportunities and further advance its business success in the country. AKP

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In his opening remarks, His Excellency Oknha Nguon Meng Tech redefined the traditional view of schooling, labeling international education for the next generation as a primary strategic investment. He emphasized that global exposure in world-class environments, such as Australia, equips successors with the specific mindset and international skills required to modernize family enterprises. This development of human resources is not merely a family matter but a vital contribution to Cambodia’s national vision of achieving high-income status by 2050.

His Excellency further noted that while building a successful business is difficult, ensuring its survival across generations is the far greater challenge. He identified the lack of succession planning and the failure to facilitate “knowledge inheritance” as the primary risks facing family businesses today. Consequently, investing in a child’s education must be treated as a crucial factor in all business considerations to ensure the legacy remains sustainable.

Dr. Chandren Selvadass, Executive Director of ANIBT Malaysia, provided deeper insights into the specific returns on education for business families. He argued that for these families, education is not simply about obtaining a degree; it is about preparing the next generation to be responsible, decisive leaders capable of managing global complexities. Dr. Selvadass warned that leadership does not arise automatically through lineage but must be earned through a developed understanding of the world, maturity, and an international perspective.

The Doctor also highlighted that sending children into international environments without proper preparation is a mistake that can lead to significant financial and personal costs. He stressed that a well-thought-out educational foundation is essential for the future of both the individual children and the family institution as a whole, ensuring they can maintain their family legacy with wisdom and confidence.

The seminar concluded with a detailed discussion on the necessary foundations for training and sending students to study abroad, particularly in Australia. A representative from E-School Cambodia presented their specialized six-month foundation program, sharing successful experiences from various countries to illustrate how structured preparation leads to academic and professional success. The workshop reinforced the message that for members of the Chamber of Commerce, the investment in global education is the most reliable insurance policy for the future of Cambodian commerce.

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The operation, carried out late on April 6, targeted multiple properties inside a residential compound in Khan Sen Sok. Police arrested 26 Chinese nationals, including one woman, and one Malaysian, bringing the total number of suspects to 27.

During the raid, officers seized a substantial quantity of equipment allegedly used to facilitate cyber fraud, including 227 mobile phones, 22 laptop computers, 19 computer monitors and three desktop computers.

The crackdown was conducted under the direction of Phnom Penh Governor H.E. Khuong Sreng and Phnom Penh Municipal Police Commissioner Lt. Gen. Chuon Narin, with coordination from local authorities and prosecutors at the Phnom Penh Municipal Court.

Preliminary investigations indicate the suspects used Cambodia as a base to conduct online scams, primarily involving fraudulent e-commerce schemes and investment lures designed to deceive victims.

All suspects and seized evidence have been transferred to the relevant police unit for further legal action, while authorities continue to investigate and identify additional accomplices.

Prime Minister Samdech Moha Borvor Thipadei Hun Manet has reiterated that Cambodia will not serve as a haven for cybercriminals, warning that individuals or entities involved in such activities will face the full extent of the law without exception. He added that ongoing enforcement measures aim to eliminate online scam operations in the country by this April.

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“The risk of a severe and persistent tariff shock from the U.S. has diminished following the reduction of U.S. tariffs on Cambodian exports to levels broadly in line with regional peers,” the U.S. rating agency said last week.

Moody’s said it expects GDP growth to “moderate and stabilise at a lower rate in the near term.”

The upgrade comes despite the war on Iran, continued tariff uncertainty, and border tensions with Thailand eroding tourism revenues and remittances.

“We expect Cambodia to absorb the external shock without a material weakening of its fiscal metrics, foreign direct investment inflows, and without significant erosion of external buffers amid strong reserve coverage,” Moody’s said.

ROBUST POTENTIAL

Moody’s affirmed its B2 rating for long-term borrowers in light of low incomes, weak institutions and high dollarisation balanced by a “highly affordable government debt burden and still-robust medium-term growth potential.

“Fiscal metrics remain supported by concessional financing, while strong reserve buffers continue to underpin external stability, notwithstanding persistent downside risks from financial sector vulnerabilities amid ongoing property market downturn.”

Cambodia’s local and foreign currency country ceilings are unchanged at Ba3 and B1.

GAPS

The two-notch gap between the local currency ceiling and the sovereign rating reflects “low economic diversification, weak institutional strength, a modest government footprint, and moderate external vulnerability risk.”

The one-notch difference between the foreign and local currency ceilings “incorporates our assessment of Cambodia’s weak policy effectiveness, a track record of transfer and convertibility restrictions in times of stress, and a relatively open capital account.”

Moody’s revised Cambodia’s outlook to negative in April last year after the U.S. announced a 49 percent reciprocal tariff — the second-highest in the world.

At the time, it estimated that such a scenario could reduce real GDP growth by about 3 percentage points from this year.

But under an agreement signed by Samdech Moha Borvor Thipadei Hun Manet and U.S. President Donald Trump in Kuala Lumpur in October, the U.S. cut the tariff to 19 percent — in line with duties the U.S. imposed on regional competitors.

Moody’s estimates the 19 percent tariff will cut GDP growth by only around 1 percentage point. “This materially lowers the likelihood of a sharp and sustained growth dislocation,” it said.

TRANS-SHIPMENT TARIFFS

Uncertainty persists over tariffs on trans-shipped goods.

The United States has already imposed triple-digit duties on solar equipment made by Cambodian subsidiaries of Chinese companies.

But Cambodia has agreed to cut all tariffs on U.S. goods. It also aims to better enforce rules of origin — like mandatory origin certification and enhanced inspections — and strengthen coordination between government agencies.

“We do not expect trans-shipment-related tariffs to materially disrupt Cambodia’s export[s],” the rating agency said.

Overall exports are expected to remain resilient, fueled by garments and increased non-garment exports — notably auto parts, tyres, and electronics.

But amid border tensions with Thailand, “we expect tourism and remittance inflows to remain weak through 2026 … with a recovery only from 2027.

“In addition, a prolonged conflict in the Middle East adds further downside risks through higher import costs and continued pressure on garment exporters’ margins stemming from elevated shipping and logistics costs.”

‘SIZEABLE FOREIGN-EXCHANGE RESERVES’

At the same time, financial sector risks remain elevated.
[4/7/2026 10:35 AM] Nimul: “The prolonged downturn in the real-estate sector continues to weigh on bank asset quality and credit growth, with the large size of the banking system relative to the economy amplifying potential macro-financial risks,” the rating agency said.

“While we do not expect an acute banking crisis, these vulnerabilities are likely to remain a drag on growth and policy flexibility over the medium term.”

Moody’s notes that Cambodia’s external position is supported by strong inflows of foreign direct investment (FDI) and “sizeable foreign-exchange reserves”. These have been running at multi-year highs — reaching US$19 billion in early 2026, equivalent to about seven months of imports.

The International Monetary Fund (IMF) considers a minimum three months as the “rule of thumb” and finds that countries with higher reserves are generally able to better cushion economic activity from external shocks.

According to Moody’s, the war on Iran and border tensions with Thailand “have dampened near-term growth” in Cambodia. But “we do not expect these pressures to materially undermine external financing conditions.”

Moreover, “FDI has remained resilient, driven primarily by Chinese inflows into manufacturing and industrial projects, and continues to finance the current account deficit.”

‘DEBT LEVEL REMAINS MODEST’

The country’s debt burden is seen edging close to 30 percent this year, reflecting deeper fiscal deficits amid weakening growth along with support for migrant workers returning from Thailand and vulnerable households.

But “Cambodia’s debt level remains modest, lower than the median of B-rate sovereigns,” Moody’s said, noting that the country largely relies on official multilateral and bilateral creditor support for government borrowings, which supports high debt affordability.

“Reliance on concessional loans also insulates Cambodia against the possibility of an abrupt market-driven spike in the cost of debt,” it said.

ENVIRONMENTAL, SOCIAL AND GOVERNANCE RISKS

On environmental, social and governance risks, Cambodia’s credit impact score is CIS-4.

On the environment, the rating agency noted the country’s exposure to droughts and floods, which can disrupt agriculture and deter tourism. Water management is also an issue given “very weak access to safe drinking water, with poor water storage and infrastructure facilities.”

Exposure to social risks reflects low incomes, poor health and education, and weak access to other basic infrastructure.

Governance risks reflect “relatively weak institutional arrangements, a high incidence of corruption, generally weak rule of law, and transparency issues, which compound policy effectiveness.”

FUTURE RATING ACTIONS

Moody’s said a rating upgrade could arise if the government carries out reforms to address institutional weaknesses, policy effectiveness and competitiveness.

“Such reforms would also likely contribute to a material increase in economic diversification, stronger foreign direct investment inflows and more robust per-capita income growth,” it said.

“Material reduction in macro-prudential and banking sector risks would also likely exert upward pressure on the rating.”

On the other hand, trade disruptions or geopolitical developments could put downward pressure on the ratings.

Such developments could erode prospects for growth and FDI while elevating external vulnerability.

“A downgrade could also result from a significant weakening of financial stability, including prolonged stress in the banking sector that undermines macroeconomic stability or materially worsens fiscal and external metrics,” the agency adds.

OTHER RISKS

On Cambodia’s “ba3” economic strength rating, Moody’s said this reflects a slump in the country’s construction and real-estate sectors.

“We also factor in challenges related to economic competitiveness, a narrow export base — notwithstanding some recent diversification — and low, albeit rising incomes, which point to low shock-absorption capacity.”
[4/7/2026 10:35 AM] Nimul: The country’s “baa1” fiscal strength rating meanwhile reflects contingent liability risks related to public-private partnerships and the property downturn — also reflected in its “b” rating for risks in the banking sector. AKP

The post Moody’s Upgrades Cambodia’s Outlook from Negative to Stable first appeared on Estatedia | Economy & Real Estate Media in Cambodia.

The Ministry of Commerce announced that the expansion is the result of a strategic partnership between Amru Rice (Cambodia) Co., Ltd. and DFI Retail Group, a leading Asian retail conglomerate.

Under the collaboration, the product has been distributed to over 245 Wellcome supermarkets in Hong Kong and around 100 Lucky Supermarkets nationwide in Cambodia, providing Cambodian rice exporters with broader access to established consumer markets.

Cambodia’s premium fragrant rice, particularly the Phka Rumduol variety, has earned global recognition, winning the World’s Best Rice award seven times, most recently in 2025. The Ministry noted that the latest expansion reflects ongoing efforts to enhance value addition in the agricultural sector and strengthen trade facilitation through public-private partnerships.

The rollout also supports the Ministry’s #MadeInCambodia campaign, aimed at boosting the visibility and competitiveness of Cambodian products in both domestic and international markets.

According to the Ministry, the rice supplied by Amru Rice is sourced from local farming communities that practice sustainable agriculture, aligning with growing global demand for environmentally responsible food production and DFI Retail Group’s sustainability principles.

Minister of Commerce H.E. Mrs. Cham Nimul commended Amru Rice for its role in promoting high-quality Cambodian rice abroad. She highlighted that the product is packaged under the “Malys Angkor” certification, reflecting both national identity and adherence to international quality standards.

The Ministry reaffirmed its commitment to supporting exporters through mechanisms such as the Export Promotion Task Force (EPTF), with a focus on brand development, diversification, and expanding access to high-value global markets, including products with Geographical Indication (GI) status.

The initiative marks a significant step in strengthening Cambodia’s position in the global rice market while advancing inclusive and sustainable growth in the commerce sector.

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The initiative was discussed during a meeting between Deputy Prime Minister and Minister of Economy and Finance H.E. Dr. Aun Pornmoniroth and AIIB President Ms. Zou Jiayi, who is on her first official visit to Cambodia.

The discussions focused on the Country Cooperation Framework (CCF) for 2026-2030, expected to guide investments across priority sectors.

H.E. Dr. Aun Pornmoniroth highlighted the importance of the framework in addressing Cambodia’s growing infrastructure needs, particularly amid global economic uncertainty and geopolitical tensions.

Cambodia, a founding member of the AIIB since 2016, has received sustained support through loans and grant financing, including assistance during the COVID-19 pandemic.

Ms. Zou Jiayi reaffirmed the AIIB’s commitment to accelerating project approvals and supporting Cambodia’s development priorities, including clean energy, through new financing instruments.

Commenting on the development, economist Dr. Darin Duch said the framework would be vital in maintaining Cambodia’s growth trajectory.

“The US$2 billion CCF is crucial because it provides capital for infrastructure development. Cambodia is able to maintain ongoing projects such as transport, logistics, and digital infrastructure, which are key drivers for economic productivity, trade competitiveness, and inclusive growth,” he said.

He added that the framework could also support Cambodia’s energy transition.

“There is a potential to support clean energy, including solar, hydropower, and grid modernisation, while reducing dependency on imported fossil fuels. This is conducive to enhancing energy security and reducing costs in the long run,” he noted. AKP

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The meeting aimed to exchange views on strengthening cooperation to develop a skilled Electric Vehicle (EV) workforce.

This initiative seeks to meet market demands, contribute to environmental protection in Cambodia, and address the global fuel crisis.

During the meeting, H.E. Minister highly valued BYD for its contribution to green economic development, human resource capacity building, and job creation through the introduction of new technologies to the Cambodian EV sector.

BYD’s presence signifies high investor confidence in Cambodia and provides citizens with affordable, high-tech transportation options, he said.

H.E. Heng Sour affirmed that the Royal Government fully supports BYD’s operations and has urged relevant ministries and institutions to facilitate the company’s success for the mutual benefit of the public and the environment.

Notably, he mentioned the Royal Government’s recent decision to grant full tax exemptions on the import of family EVs, an initiative designed to encourage investment and accelerate EV adoption.

Additionally, H.E Minister noted that as the increase in BYD’s car usage reflects the growing demand for vehicle assembly, imports, and imports, it is an excellent opportunity for the company and the Ministry to collaborate in training young people to acquire higher skills.

This partnership is vital for building a future-ready and resilient workforce to support national development and regional competitiveness, he said.

For his part, Mr. Ye Chenghui expressed his deep gratitude to the Royal Government and the Minister for their steadfast support. He shared the company’s operational history and strategic vision in Cambodia, noting that BYD’s core mission remains environmental protection through the provision of modern, accessible EV solutions.

Both sides concluded the meeting by expressing a firm commitment to expanding cooperation. Future efforts will focus on establishing specialised training centres for instructors and students, providing internship opportunities, and organising study tours of actual production lines.

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She made the remarks during a courtesy call on Cambodian Prime Minister Samdech Moha Borvor Thipadei Hun Manet at the Peace Palace in Phnom Penh on April 1.

During the meeting, H.E. Ms. Rabab Fatima conveyed her deep appreciation to the Royal Government of Cambodia for hosting the “Asia-Pacific Ministerial Mid-term Review of the Doha Programme of Action (DPoA).”

She also commended Cambodia’s rapid progress and praised the Kingdom for launching a development and heritage conservation plan.

The Under-Secretary-General reaffirmed the United Nations’ commitment to supporting Cambodia’s graduation process, noting that a dedicated UN task force has been established to assist in the transition.

She further highlighted that Cambodia has already met the criteria for graduation from the LDC category in two previous assessments and remains on track for graduation by 2029.

In response, Samdech Thipadei Hun Manet thanked the United Nations for its longstanding contribution to Cambodia’s socio-economic reconstruction and development, and welcomed the establishment of the ad hoc task force.

The Prime Minister emphasised that the Royal Government has taken concrete steps to strengthen national resilience through the Pentagonal Strategy – Phase 1, which prioritises human capital development, reforms in education, health and vocational training, strengthening the financial system in line with global technological trends, and promoting public-private partnerships.

He added that Cambodia will continue to cooperate closely with the United Nations in peacekeeping operations and other frameworks.

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The visit on Sunday, led by H.E. Dr. Suong Noy, Secretary of State at the Office of the Council of Ministers, targeted Santuk district to evaluate local production capacity and establish direct market linkages between Vietnamese industrial expertise and Cambodian raw materials.

During a consultative meeting at the Santuk district hall, Comay Group—a veteran firm established in 1981—pitched a circular trade model. The company proposed supplying high-quality fish feed to Cambodian aquaculture farmers at competitive rates in exchange for purchasing “premium” Cambodian agricultural outputs, including 5451 variety dry-season rice, rice bran, broken rice, and cassava.

“Santuk district possesses a unique trifecta of expansive land, abundant raw materials, and reliable water resources via the Chinit River irrigation system,” said Santuk District Governor Mr. Vannak Sopheanith. He urged the Vietnamese firm to move beyond trade and consider direct investment in local processing plants.

The Fisheries Administration underscored the region’s untapped potential, noting that while Cambodia’s freshwater fish yield hovers around 6,000 tonnes annually, districts like Santuk are primed for scaling up due to the January 1st Dam infrastructure.

To bridge the technical gap, H.E. Dr. Suong Noy secured a commitment from Comay to provide: Hands-on training for Cambodian farmers and commune officials at Comay’s advanced facilities in Vietnam; Specialised workshops on harvesting techniques and international market access; A pilot project was immediately greenlit at the 80-hectare fish farm of local entrepreneur Tan Vanna to test the efficacy of Comay’s specialised feed.

Addressing potential investor concerns, H.E. Dr. Suong Noy reiterated the Royal Government of Cambodia’s commitment to a “zero-tolerance” policy regarding informal payments, promising a transparent and streamlined environment for Vietnamese enterprises looking to enter the Kampong Thom market.

The Santuk district administration is now expected to conduct a formal assessment of local demand for Comay’s products to finalise the volume of the upcoming reciprocal trade agreement.

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