Hun Manet’s first official visit as Cambodian Prime Minister fosters deeper collaboration between the two nations.
SINGAPORE: Singapore and Cambodia have taken another step in strengthening their bilateral ties with the signing of a Memorandum of Understanding (MoU) to enhance cooperation in digital government. The agreement was inked on Tuesday (Jun 18) at the Istana by Cambodia’s Minister of Post and Telecommunications, Chea Vandeth, and Singapore’s Senior Minister of State for Communications and Information, Janil Puthucheary.
The signing ceremony, witnessed by Singapore Prime Minister Lawrence Wong and Cambodian Prime Minister Hun Manet, marked a significant moment during Dr. Hun Manet’s inaugural official visit to Singapore as Cambodia’s Prime Minister.
The Cambodian leader was given a ceremonial welcome at the Istana and met with Singapore’s President Tharman Shanmugaratnam, reaffirming the warm ties between the two nations as they approach the 60th anniversary of their diplomatic relationship next year. Discussions during the visit focused on trade and investment, financial transparency, food and water security, and renewable energy.
Expanding Economic and Regional Cooperation
Prime Ministers Wong and Hun Manet highlighted the growing economic relationship between their countries, emphasizing investments in sectors such as real estate, logistics, and agribusiness. They also discussed emerging opportunities in renewable energy and carbon credits, underscored by Singapore’s conditional approval of electricity imports from Cambodia.
The leaders welcomed initiatives like the Laos-Cambodia-Singapore working group on cross-border electricity trading, aimed at accelerating projects under the ASEAN Power Grid framework.
Singapore also committed to supporting Cambodia’s human resource development and capacity building while reinforcing the importance of ASEAN centrality and unity in fostering regional economic integration.
Launch of Financial Transparency Corridor (FTC)
A key milestone of the visit was the launch of the Financial Transparency Corridor (FTC) initiative, announced by the Monetary Authority of Singapore (MAS) and the National Bank of Cambodia. The FTC aims to develop digital infrastructure that facilitates trade and cross-border financial services for small and medium-sized enterprises (SMEs).
MAS managing director Chia Der Jiun noted that the initiative would enhance access to financial services for SMEs, creating greater business opportunities through the exchange of financial data. Dr. Serey Chea, governor of the National Bank of Cambodia, emphasized the FTC’s role in improving financial trust and accessibility for SMEs in both countries.
Fostering Long-Standing Ties
At an official dinner, Prime Minister Wong highlighted the enduring friendship between Singapore and Cambodia, describing the relationship as rooted in mutual respect and shared aspirations.
Dr. Hun Manet will conclude his visit with engagements including a meeting with Senior Minister Lee Hsien Loong, attending the Cambodia-Singapore Business Forum as the guest of honor, and visiting local institutions such as Nanyang Polytechnic and Keppel Infrastructure@Changi.
