Latest news with #Vissoth
The Star
21-06-2025
- Business
- The Star
Cambodian DPM urges investors to maximise benefits from Regional Comprehensive Economic Partnership, bilateral free trade agreements
PHNOM PENH: (Bernama-Xinhua) Cambodian Permanent Deputy Prime Minister and Cabinet Minister Vongsey Vissoth (pic) on Friday (June 20) urged investors to reap maximum benefits from the Regional Comprehensive Economic Partnership (RCEP) agreement and bilateral free trade agreements (FTAs), Xinhua reported. Cambodia is a member of the RCEP agreement, which engages with 15 Asia-Pacific countries, and the kingdom also has bilateral FTAs with China, South Korea and the United Arab Emirates (UAE). Under these free trade pacts, Cambodian products have been exported to those countries with preferential tariffs. "I would like to urge investors to maximise the opportunities and benefits from the RCEP agreement and Cambodia's bilateral FTAs with China, South Korea, and the UAE," Vissoth said in a speech to hundreds of investors and business executives at a Cambodia-international investment promotion platform in Phnom Penh. He said these free trade pacts have played a crucial role in "diversifying markets for garment products to the Association of Southeast Asian Nations (Asean), East Asia, and other regions besides the United States and Europe." Entering into force in 2022, RCEP comprises 10 Asean member states of Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam, and their five trading partners, namely China, Japan, South Korea, Australia and New Zealand. Zheng Xianjiang, co-president of the Cambodia Confederation of Investors Association, said Cambodia is a "golden hub" for investment as the Phnom Penh-Sihanoukville Expressway, the Sihanoukville Special Economic Zone, and the international deep-sea port of Sihanoukville have provided convenience for trade exchanges between Cambodia and the rest of the world. Moreover, under the RCEP and the FTAs, trade between Cambodia and these countries has been conducted with no barriers, he said at the event. Zheng added that these trade pacts have created favourable trade and investment opportunities for investors in Cambodia. Cambodian Ministry of Commerce's Secretary of State and spokesperson Penn Sovicheat said the RCEP agreement and bilateral FTAs will help Cambodia realise its ambitious goals of becoming an upper-middle income country by 2030 and a high-income nation by 2050. "These free trade pacts have not only given a big boost to Cambodia's sustainable trade growth in the long run, but also become a magnet to attract more foreign direct investments to the kingdom," he told Xinhua. Kin Phea, director general of the International Relations Institute of Cambodia, a think tank under the Royal Academy of Cambodia, said the RCEP has emerged as a key advocate for free trade and multilateralism in the wake of escalating protectionist policies, particularly from the United States. "The RCEP has become a stabilising force, fostering economic integration across the Asia-Pacific," he told Xinhua. At the forum, 21 memoranda of understanding were signed between representatives of Cambodian and foreign enterprises, covering a wide range of business areas. - Bernama-Xinhua
The Star
20-06-2025
- Politics
- The Star
Cambodia continues efforts to establish a Legacy Institution for genocide prevention, education
This photo taken on March 28, 2025 shows tourists looking at portrait photos of victims of the Khmer Rouge regime at the Tuol Sleng Genocide Museum in Phnom Penh. The ECCC Legacy Institution aims to prevent the recurrence of the genocidal regime and support public education. - AFP PHNOM PENH: The Extraordinary Chambers in the Courts of Cambodia (ECCC) has shared a concept note on the establishment of the ECCC Legacy Institution, which aims to prevent the recurrence of the genocidal regime and support public education. This dissemination took place on June 19, and was chaired by Vongsey Vissoth, Permanent Deputy Prime Minister, Minister in Charge of the Office of the Council of Ministers and chairman of the Working Group for Cooperation with the UN and Development Partners for the Implementation of the ECCC's Residual Functions. The meeting was attended by officials from relevant ministries, Joseph Scheuer, UN coordinator in Cambodia, representatives from 18 embassies, and representatives from numerous domestic and international organisations. Vissoth stated that Prime Minister Hun Manet has a far-reaching vision to establish the ECCC Legacy Institution. He noted that the institution aims to strengthen and maintain long-term peace in Cambodia, prevent the recurrence of atrocities and genocide and share Cambodia's hard-earned experiences related to post-conflict resolution, peacebuilding and transitional justice at the regional and global level. He added that the institution will have the mission of managing and preserving archives related to the ECCC, as well as promoting training and research on the ECCC's achievements, valuable experiences and jurisprudence. In addition, it will educate future generations of Cambodian youth and the general public to prevent atrocities and genocide in Cambodia. It will also foster partnerships with national and international institutions to enhance education, peacebuilding, the prevention of genocidal crimes and transitional justice. 'The meeting participants fully supported the establishment of this Legacy Institution and pledged their support to make it a significant hub for information and research through education, dissemination and in-depth national and international research to promote justice within peace, and to prevent crimes and atrocities in the future, with the goal of maintaining long-term peace in Cambodia, the region and the world,' said an ECCC statement. Vissoth expressed gratitude for the support of the UN and the international community for the ECCC's operations. He called on relevant parties, the international community, development partners, private sector leaders and international organisations to participate in this initiative and support Cambodia's new institution. He also urged contributions of ideas and resources in partnership to establish the ECCC Legacy Institution, contributing to shared regional and global responsibilities for peacebuilding, post-conflict resolution and transitional justice. - The Phnom Penh Post/ANN
