Cambodia Investment Review
Swisscontact’s Senior Expert Contact (SEC) program, co-financed by the Swiss Agency for Development and Cooperation (SDC), has played an integral role in accelerating economic development in Cambodia by connecting retired Swiss professionals with local small- and medium-sized enterprises (SMEs) and institutions.
Launched in 1979, the SEC program has successfully completed over 3,000 assignments, amounting to roughly 1,200,000 hours of voluntary work. This represents an estimated 45 million Swiss francs’ worth of expert time contributed to developing countries.
Cambodia has been benefiting from the SEC program since 2016, with 46 experts providing their services to 36 companies, associations, and government institutions through 56 assignments. The program has been highly successful in imparting technical skills and promoting entrepreneurship in the country.
Tapping into the wealth of knowledge
As Cambodia prepares to graduate from its Least Developed Country (LDC) status by either 2027 or 2028, according to a report published by the UN Development Programme (UNDP), the need for the nation to embrace international best practices becomes increasingly apparent.
Read more: Sovereign bonds needed as Cambodia forecast to graduate from LDC status by 2028 says UNDP
Emerging economies like Cambodia require vital expertise from international professionals to bolster growth, enhance competitiveness, and foster innovation. By tapping into the wealth of knowledge and experience of seasoned professionals, the SEC program is enabling local businesses and organizations to bridge skill gaps, adopt best practices, and improve operational efficiency.
The exchange of expertise facilitated by the SEC program contributes significantly to the sustainable development of Cambodia’s economy. It stimulates job creation, bolsters human capital, and encourages a culture of knowledge-sharing. As Cambodia continues to navigate the challenges of the global market, the guidance of international experts is indispensable in driving long-term progress and achieving lasting prosperity for the country.
SEC empowering local businesses and organizations
Rajiv Pradhan, Swisscontact Cambodia Country Director, emphasized the importance of the SEC program in empowering local businesses and organizations. He said, “Together, we can unlock the tremendous potential of the Cambodian people and contribute to the nation’s bright future.”
By leveraging the expertise of the SEC program, Cambodia is better positioned to foster an entrepreneurial spirit, create sustainable growth, and drive innovation.
The recent visit of Jane Achermann, Global SEC Program Manager, to Cambodia underscored the ongoing success and impact of the program. She noted that Swisscontact is committed to fostering economic, social, and environmental development in over 40 countries, and the SEC program is a vital component of these efforts.
During her visit, Swisscontact organized an appreciation event to express gratitude to all Excellencies, Directors, and respected partners and friends of the SEC program and Swisscontact Cambodia.
Embracing international best practices and harnessing expertise
As Cambodia moves towards graduating from LDC status, continued access to concessional development finance and international expertise through programs like SEC can help consolidate recent advances and address current and emerging development challenges and opportunities.
By embracing international best practices and harnessing the experience of seasoned professionals, Cambodia is well on its way to achieving sustainable growth, economic development, and prosperity for its people.
Swisscontact in Cambodia continues to accept requests from SMEs and other institutions and facilitate the provision of SEC experts in Cambodia.
