The workshop was jointly organised by the Cambodia Microfinance Association (CMA), the state-owned Agriculture and Rural Development Bank (ARDB), and Water.org Cambodia.

Participants included H.E. Kao Thach, Delegate of the Royal Government in charge and Chief Executive Officer of ARDB and a member of its Board of Directors; Mrs. Dith Nita, CMA Vice President; and representatives from member financial institutions.

The workshop focused on equipping stakeholders with strategic tools to bridge the gap between the supply and demand for green finance, while also raising awareness of the Cambodia Climate Finance Facility (CCFF) lending framework.

The CCFF framework provides practical guidance for local financial institutions to access funding for green projects, while promoting concrete actions to implement green finance policies that support climate adaptation and sustainable development.

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The meeting, facilitated by Mr. Michael Kuoy, President of the Cambodia Chamber of Commerce Office in Auckland, centered on each institution’s role in supporting the agricultural sector. Topics included bank management practices, credit policies, and strategies for working directly with farmers to boost agricultural development.

Dr. Kao Thach invited Rabobank representatives to visit Cambodia to gain first-hand insight into the country’s agricultural potential and evolving financial landscape. He also proposed formalising cooperation through a future Memorandum of Understanding (MoU), aimed at promoting technical collaboration, information sharing, and stronger institutional ties.

According to ARDB, the dialogue represents a positive step in bringing international financial expertise to Cambodia, supporting productivity improvements and the modernisation of the agricultural sector.

ARDB, a state-owned bank, provides investment and revolving credit to advance agriculture, agro-industry, and rural development in line with Royal Government policies.

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On Mar. 9, H.E. Dr. Kao Thach, Delegate of Royal Government of Cambodia in charge as CEO of ARDB, together with Oknha Lay Chhun Hour, President of the Cambodia Rice Federation, held discussions with COFCO Grains at the company’s headquarters in Beijing, the People’s Republic of China.

The discussions focused on strengthening the production capacity and quality of Cambodian rice for export. ARDB and the Cambodia Rice Federation will work together as key partners to cooperate with relevant stakeholders in advancing this objective.

ARDB will also facilitate cross-border settlement arrangements to support smoother financial flows in the export trade of Cambodian rice to China.

During the meeting, COFCO Grains pledged to help promote Cambodian rice and continue boosting its import into the Chinese market.

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Representatives from three Chinese companies, including Jinshan Hi-Tech Group, Nature Home Group, and GXAS High Technology Group, as well as consular representatives from Guangxi Province, China, met with HE Dr. KAO Thach, CEO of ARDB.

HE Dr. Thach highlighted the bank’s role in supporting sustainable agricultural development through green loans and expressed keen interest in partnering with Chinese companies to introduce innovative technologies and improve agricultural practices in Cambodia.

Mr. Se Hok Pan, President of Nature Home Group, shared his company’s plans to invest in oilseeds, sugarcane, fish farming, and rice cultivation in Cambodia. He emphasized the importance of technology transfer and environmental sustainability in these endeavors. GXAS High Technology Group, a partner in environmental initiatives, expressed its willingness to contribute expertise to Cambodia’s agricultural modernization.

The meeting underscored the potential for fruitful cooperation between Cambodia and China in the agricultural sector. By leveraging Chinese technology and investment, Cambodia can enhance its agricultural productivity, improve food security, and promote sustainable rural development.

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The project received approval during a meeting of the Preah Sihanouk Provincial Sub-Committee on Investment on April 17th. The committee not only approved the investment proposal but also registered the project, paving the way for its establishment.

Cobber Packing (Cambodia) Co., Ltd. plans to set up the factory in Ou Chamnar Village, Ou Chamnar Village, Ou Oknha Heng Commune. To facilitate the process, the Provincial Department of Industry, Science, Technology and Innovation along with the Investment Sub-Committee Secretariat will work together to prepare a decision establishing the factory. Once the relevant ministries and institutions provide authorization, the company will be issued the necessary licenses and registrations to begin operations.

This approval highlights Cambodia’s continued support for industrial development. The Capital-Provincial Investment Sub-Committees, established in June 2022, play a key role in this by reviewing and approving private investment projects with a capital range up to US$5 million within their jurisdiction. These committees are chaired by the Governor and include directors from relevant departments.

The new cardboard factory is expected to create jobs and boost the local economy in Sihanoukville Province.

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According to a news release of CDC issued today, the newly approved investment projects in Phnom Penh cover the establishment of data centres in Khan Russey Keo and Khan Daun Penh; a bag, car tyre, book cover and pad factory in Khan Kambol; and a garment, medical clothing and pet clothing factory in Khan Pursenchey.

In Svay Rieng province, there will be factories of home appliances from recycled metals in the Svay Chrum district, and furniture, house appliances, packaging materials, decorative light bulbs, wire and cardboard boxes in the Giga Resource Special Economic Zone.

While cardboard box, Christmas tree and decorative light bulb factories in the Kong Pisei district, and bag and accessories factories in the Samrong Tong district of Kampong Speu province, there will be coconut processing, doll and pet supply factories in the Prey Nup district, and sofa and furniture factory in Sihanoukville Special Economic Zone of Preah Sihanouk province.

Besides, when fruit tree farms and processing factories, and pig farms and processing factories are established in Borey O’ Svay Senchey of Stung Treng province, there will be garment factories in Bati district and Samrong district of Takeo province.

A garment factory project in Takhmao city of Kandal province; an iron mining project in O’ Rovieng district of Preah Vihear province; a multi-purpose port and logistics centre project in Kampong Leng of Kampong Chhnang province; and a garment, glove, sock, hat and bag factory project in Jiangsu Special Economic Zone in Kampong Cham province have also been approved during the first two weeks of this month.

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According to a CDC’s press release issued yesterday, the newly approved projects are located in the provinces of Kampong Speu, Takeo, and the capital of Phnom Penh

Under the six investment projects, factories of noodles, cardboard boxes, footwear, and garments will be created, it pointed out. They are expected to generate nearly 7,600 jobs for the locals, added the same source.

Cambodia as in August alone could see total investment projects worth over $480 million, mostly in the garment sector, and could create jobs for nearly 35000 workers.

During the first six months of this year, the CDC granted the green light to 113 investment projects and investment expansion projects with a total capital of $1,105 million.

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CONCH KT CEMENT (PHNOM PENH) COMPANY LIMITED
Project to establish a cement factory in Monorom village, Hom Samnang commune, Oral district, Kampong Speu province, with an investment of approximately 258 million US dollars and can create 468 jobs.

KHOU TOWER CO., LTD
Construction and business project of a 237-room 5-star hotel, located at the corner of Monivong Blvd (93), corner of Street 88 and 75, Village 9, Sangkat Srah Chak, Khan Daun Penh, Phnom Penh, with an investment of 84.5 million US dollars and can create 855 jobs.

RIGHT UNION INTERNATIONAL CO., LTD
Project to establish a shoe factory in Ta Sen village, Sotip commune, Cheung Prey district, Kampong Cham province, with an investment capital of approximately 20.5 million USD and can create 4,870 jobs.

NENGLI HARDWARE PLASTIC PRODUCTS CO., LTD
Project to establish a factory to produce consumables (shelves, baskets, etc.) from steel and plastic, located in Santepheap village, Tang Kroch commune, Samrong Tong district, Kampong Speu province, with an investment capital of approximately 10.7 million US dollars and can create 4,870 jobs.

POLESTAR (CAMBODIA) GARMENT CO., LTD
Project to establish a garment factory located on National Road 5, Snam Preah village, Snam Preah commune, Bakan district, Pursat province, with an investment capital of approximately 8 million US dollars and can create 2,591 jobs.

EVERGREAT (CAMBODIA) SHOES CO., LTD
Project to establish a shoe factory of all kinds located in Chamkar Sleng village, Prey Pouch commune, Ang Snoul district, Kandal province, with an investment capital of approximately 6.1 million USD and can create 1,260 jobs.

ARTIVERSE (CAMBODIA) CO., LTD
Project to establish a garment factory located in Srong village, Srong commune, Kong Pisey district, Kampong Speu province, with an investment capital of approximately 5.8 million US dollars and can create 2,086 jobs.

AL JAZEELAN FOOD PTE. LTD
Project to establish a food processing factory located in Samrong Teav village, Sangkat Kraing Thnong, Khan Sen Sok, Phnom Penh, with an investment capital of approximately US $ 5.6 million and can create 125 jobs.

JUN BO SHENG SHOE MATERIAL CO., LTD
Project to establish a shoe accessories factory located in Lum Road, Andong village, Bek Chan commune, Ang Snoul district, Kandal province, with an investment capital of approximately 5.6 million USD and can create 368 jobs.

SMART PACKAGING (CAMBODIA) CO., LTD
Project to establish a cardboard factory located in Prey Khla village, Kraing Makak commune, Ang Snoul district, Kandal province, with an investment capital of 5.4 million US dollars and can create 310 jobs.

KH BEST FAITH MANUFACTURING (CAMBODIA) CO., LTD
Project to establish a factory to produce bags and bags of all kinds, located in Sandol village, Chung Ruk commune, Kong Pisey district, Kampong Speu province, with an investment capital of approximately US $ 5.3 million and can create 1,931 jobs.

KUNBO STYLE APPAREL CO., LTD
Project to establish a garment factory located in Moul Village, Sangkat Dangkor, Khan Dangkor, Phnom Penh, with an investment of approximately 5.2 million US dollars and can create 2,041 jobs.

MENATURE OUTDOOR (CAMBODIA) CO., LTD
Project to establish a bag factory of all kinds, located on National Road 5, Spean Po Village, Sethy Commune, Samaki Meanchey District, Kampong Chhnang Province, with an investment capital of approximately US $ 5.2 million and can create 1,481 jobs.

The CDC’s approval of these projects is a vote of confidence in the new government‘s commitment to economic development. It is also a sign that investors are optimistic about the future of Cambodia’s economy.

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1. “QINGDAO ZHONGMIAN (CAMBODIA) KNITTING CO., LTD.”, an investment of approximately 6.8 million US dollars in Chiluchean Pouchai Special Economic Zone, Svay Rieng Province.  The project aims to establish a garment and garment factory that can generate 2,410 jobs.

2. “HUIYAO YAOXING PLASTIC PACKAGING PRODUCTS (CAMBODIA) CO., LTD.” plans to invest 5.7 million US dollars to set up a factory producing all kinds of bags and packaging materials in Chiluchean Pouchai Special Economic Zone, Svay Rieng Province. The project can create job opportunities for 495 individuals.

3. “DONG WANG PAPER INDUSTRY (CAMBODIA) CO., LTD.”, with an investment capital of around 3.5 million US dollars will be utilized to establish a cardboard and packaging factory. The project is situated in Hai-Park Special Economic Zone, Svay Rieng Province, and has the potential to employ 586 workers.

Recently, the CDC has been busy with investment projects. In the first quarter of the year, CDC approved investment projects worth over $400 million, including 45 projects while 5 projects worth $103.3 million were approved in April alone.

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The announcement was made in the 46th ADFIAP Annual Meeting, held from May 15-17, 2023 in Almaty, Kazakhstan.

It is a great honor for the ARDB to host the annual meeting, which underscores the state-run bank’s strength and active participation as a member in the past, said its Director General H.E. Kao Thach in a statement.

“ARDB has been actively involved in implementing the Cambodian government’s policy in providing special financing to support all actors in the agricultural, agro-industrial and socio-economic development chain,” H.E. Kao Thach said.

Forty-one (41) countries and more than 90 Development Financing Institutions are expected to join the 47th ADFIAP Annual Meeting in Cambodia, he added.

At the same time, ARDB has also won the “Development Awards 2023” for the Government Special Fund Financing Programme for Small and Medium Agricultural Enterprises Development in the 46th ADFIAP Annual Meeting in Kazakhstan.

This Development Awards is one of the prestigious awards for development financing institutions who has excellent project, contributed to social development, rural economic development, as well as promoting sustainable financing.

In 1976, the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) was established in the form of a non-governmental organisation advising the Economic and Social Council of the United Nations, with a permanent secretariat in Makati, Manila, the Philippines.

ADFIAP’s mission is to promote sustainable development through the strengthening of institutions and financial functions for development, capacity building of members, and advocacy for financial innovation for development.

ADFIAP currently has 90-member development finance institutions from 40 countries in Asia. The ARDB of Cambodia has been a member of ADFIAP since 2005.

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