Singapore eyes stronger economic ties with Cambodia

Singapore eyes stronger economic ties with Cambodia

Ambassador Pang reiterates Singapore’s interest in expanding economic engagement, particularly in areas supporting regional supply chains and private sector development.

Steven Pang Chee Wee, the new Singaporean Ambassador to Cambodia, held a series of high-level meetings with the Royal Government to advance economic cooperation, as bilateral trade surged by an average of 200 percent since early 2026.

During a meeting with Prime Minister Hun Manet on Wednesday, Ambassador Pang reiterated Singapore’s interest in expanding economic engagement, particularly in areas supporting regional supply chains and private sector development.

He expressed his commitment to strengthening cooperation in agricultural and food products for export to the Singapore market, as well as logistics and infrastructure connectivity and technical and vocational education and training (TVET), aimed at facilitating trade and investment flows.

He also highlighted human capital development, noting that Cambodia’s young workforce represents strong potential for employment opportunities in Singapore.

Ambassador Pang reaffirmed continued cooperation in capacity building, including training and skills development for Cambodian civil servants and professionals across key ministries and institutions.

Prime Minister Hun Manet welcomed the growing economic cooperation and expressed appreciation for Singapore’s longstanding support in Cambodia’s development process.

He reaffirmed that Cambodia remains committed to further strengthening bilateral ties and exploring new opportunities for cooperation at both the bilateral and regional levels.

On TVET cooperation, the Premier highlighted the Royal Government’s efforts to enhance skills development through a new education pathway initiative, aimed at guiding students and youth toward vocational skills aligned with labour market demand.

According to the Prime Minister’s Office announcement, both sides also discussed broader areas of cooperation, including trade and investment, national defence and security, energy, health, biodiversity conservation and tourism.

A day earlier, Ambassador Pang also met with Chea Serey, Governor of the National Bank of Cambodia (NBC), to discuss ongoing collaboration in financial innovation, including the Financial Transparency Corridor (FTC) initiative.

During the meeting, both sides discussed cooperation between the credit bureaus of both countries and exchanged views on global economic trends, regional financial stability, and Cambodia’s macroeconomic outlook.

The Ambassador praised Cambodia’s rapid progress in digital payment systems, particularly the widespread use of QR code-based transactions, which have improved efficiency and convenience for cross-border payments.

The NBC Governor briefed on the progress of the Bakong payment system, highlighting its role in promoting financial inclusion, supporting tourism development and encouraging greater use of the riel in the domestic economy.

Both sides also emphasised the importance of international cooperation in addressing emerging risks in the financial sector, particularly online fraud and transnational financial crimes, through enhanced information sharing and technological collaboration.

In a statement shared on her social media, Serey said, “We discussed the collaborations between the central banks of the two countries, including in the area of cross-border payment and credit information.”

Based on the latest General Department of Customs and Excise (GDCE) report, bilateral trade between Cambodia and Singapore reached $775 million in the first four months, up 220 percent year-on-year, with an average growth of 200 percent.

khmertimeskh