Welcome back to the third edition of The Week That Was, your Sunday snapshot of business, expat gossip, and everything in between from the Kingdom’s beating heart—Phnom Penh. We’re still fine-tuning based on all your fabulous feedback, so expect a few surprises as we continue tweaking this weekly wrap-up! Now, let’s dive into this week’s top stories, from mega power projects to the long-awaited return of Oktoberfest (yes, the beer is back).
⚡ Power Play: Royal Group’s $1.34 Billion Gas Plant
In the biggest news of the week, Royal Group announced Cambodia’s first-ever gas-fired power plant, a cool $1.34 billion project in Koh Kong’s Thmor Sor commune. With two combined-cycle F-class generation units, each capable of producing 450MW, this is set to be the Kingdom’s most ambitious energy initiative yet. Once operational, the plant will churn out 6,000 GWh annually—enough to cover 18% of Cambodia’s total power needs and 26% of its energy output.
However, we have been reliably told that the event itself wasn’t spared from a power issue. Yes, you guessed it: there was a power outage at the launch in Koh Kong, while the backup generator also packed it-in courtesy of seasonal rain. The irony wasn’t lost on anyone, though it did underscore why Cambodia needs more reliable energy sources—especially if we don’t want a repeat of 2019.
For those who were not running a business in 2019 (lucky you), that was the year Cambodia faced crippling rolling blackouts. Thanks to an extended dry season that wreaked havoc on the country’s hydro-dependent grid, small businesses were hit hardest. Many had to close shop for hours on end, while others scrambled to keep the lights on with costly backup generators. As one Phnom Penh business owner put it us, “It wasn’t just inconvenient, it was devastating—between spoiled goods and missed customers, we were hemorrhaging money.”
Fast forward to 2024, and while things have improved in Phnom Penh, electricity costs are still steep. Cambodia’s industrial rate is $0.137 per kW hour—higher than its regional neighbors, including Vietnam ($0.068) and Thailand ($0.091). So, the hope is that this new gas-fired plant will not only keep the lights on but also bring costs down to more competitive levels. The first unit is set to go live by April 2027. Will it make Cambodia’s power woes a thing of the past? Only time will tell.
Read More: Royal Group of Companies Unveils Cambodia’s Largest Gas-Powered Plant to Date
? Prost! Oktoberfest Returns: Beers, Bratwurst, and Bavarian Fun!
After a six-year break, Oktoberfest is back in Phnom Penh! Hosted by Tassilo Brinzer and German Business Cambodia (GBC), this year’s event will be held on October 24 and 25 at Koh Pich’s Connexion Community Mall, with up to 1,000 guests expected for two nights of Bavarian revelry. The event is set to be bigger than ever, with Cambodia Investment Review proudly serving as a media sponsor – yep, it’s a hard job!
For longtime expats, Oktoberfest has always been a highlight, and Tassilo Brinzer promises this year will be no different. “We’ve aligned with the successful concepts from Vietnam and Thailand to offer an all-inclusive experience—beer, music, food, and endless fun, all at one flat rate,” he said. Expect a real Bavarian vibe, complete with Ozapft, a six-piece band flown in from Germany and Austria, plus a feast from Hops Restaurants and Hummus House.
And it’s not just about the beer—Germany’s influence in Cambodia’s business scene runs deep, with the ongoing presence of German companies and development efforts. And you know it’s a serious affair when Stefan Messerer , Germany’s Ambassador to Cambodia, will be in attendance, no doubt lifting a stein or two alongside the rest of us.
Tickets are selling fast: $52 for Friday, October 25, and $45 for Saturday, October 26, with promo code EUROCHAM. So grab your lederhosen, snag your tickets, and get ready to say Prost! at Cambodia’s most anticipated expat event of the year!
?? Expat Job Shuffle: New Hires and a ‘The Big Reveal’ Coming Soon
In the world of expat job moves, Stew Post is the latest addition to EuroCham’s team, stepping into the role of Senior Communications Officer and Market Analyst. Originally hailing from the U.S., Stew brings five years of experience in Cambodia’s marketing and communications scene and is taking over from Brian Badzmierowski, who’s left some pretty big shoes to fill.
But the never-ending buzz is around AmCham’s mystery new Executive Director, set to be unveiled on November 1. The suspense has been building for months, with some insiders joking that the new ED might make his grand entrance by bursting out of a cake or something (though we can confirm it’s a “he”). We’ll just have to wait and see!
Meanwhile, BritCham is on the lookout for a new Executive Director following the departure of Jane Wilding earlier in the year, with a salary offer of around $2,500 per month we are told (which seems to be the standard entry level expat salary these days). The position is open to all English speakers, so if you fancy yourself a leader in the expat business community, now might be your chance.
? Leadership on the Horizon: Certified Directors Course
Ready to take your leadership skills to the next level? The Cambodian Institute of Directors (Cam-IoD) is offering their Certified Directors Course, led by Trevor Sworn, who has over 25 years of leadership experience in Cambodia. The course is designed to help participants become the corporate governance leaders of tomorrow, with 10-12 hours per week of study and a course fee of $2,000 (discounted for Cam-IoD members).
Whether you’re looking to step up your game in the boardroom or simply boost your leadership credentials, this course is a great way to do it. And with Trevor at the helm, you know you’ll be in good hands.
That’s a Wrap for Week 42! That’s all for this week’s roundup! Keep those tips coming, and don’t forget to drop us a line on Telegram at +855 969 530 061 if you’ve got any scoops to share. We’re always all ears for the latest business news, expat gossip, and everything in between. Catch you next Sunday for another edition of The Week That Was!
?️ Episode 137: Exploring Southeast Asia’s Venture Capital Scene with Ollie Forsyth ?
In episode 137 of Rising Giants, hosts Max and Dom welcomed Ollie Forsyth, Founder of the New Economies Newsletter, to discuss his entrepreneurial journey ?, the fast-evolving venture capital landscape in Southeast Asia ?, and the challenges of content creation in a digital-first world ?. Based in Thailand, Forsyth’s newsletter has quickly gained traction as a top resource for tracking the latest technology trends shaping global markets ?.
? Don’t miss out on this insightful episode!
