Cambodia Investment Review
Credit Guarantee Corporation of Cambodia (CGCC) and the Cambodia Association of Securities Firms (CASF) held a signing ceremony on the Memorandum of Understanding (MU) at the CGCC office, presided over by H.E. Sou Socheat, Delegate of the Royal Government in charge as Director General of Securities and Exchange Regulator of Cambodia (SERC), highly participated by Mr. No Lida, CEO of CGCC, Mr. Iv Ranarith, Chairman of CASF, management and staffs of SERC, CGCC, securities firms members of CASF, and distinguished guests from relevant institutions in the securities market, total approximately 70 participants.
The MoU aims to promote the development of bond issuance in Cambodia and guaranteed bonds by CGCC through cooperation between CGCC and CASF. The partnership aims to strengthen the local bond market, promote access to long-term financing for businesses, and support the overall development of Cambodia’s securities market.
Issuance Of Green Bonds, Sustainability Bonds and Sustainability-Linked Bonds
Through the MoU signing ceremony, H.E. Sou Socheat also officially launched the “Cambodia Sustainable Bonds Accelerator (CSBA Phase 3)” with the UN Economic and Social Commission for Asia and the Pacific (UNESCAP) and the Global Green Development Institute (GGGI) as members, and in collaboration with the Credit Guarantee & Investment Facility (CGIF), GuarantCo and CGCC, the program will provide technical assistance to the issuance of green bonds, sustainability bonds and sustainability-linked bonds to promote financing for projects that are in line with Cambodia’s climate priority plan and promote green, sustainable and carbon-neutral projects in the future.
H.E. Sou Socheat, Delegate of the Royal Government in charge as Director General of SERC, congratulated the signing ceremony of the MoU, sharing: “Meaningful development and progress can only happen when there is participation from industry institutions with a shared vision. The signing of the MoU between CGCC and CASF and the launch of the third CSBA program today are proof and evidence of the power of collaboration between all stakeholders, where ideas are exchanged and joint actions are implemented effectively and efficiently. Through such strategic partnerships, we can create a vibrant, modern and sustainable financial market for Cambodia.”
Pivotal Step Toward Accelerating The Development Of The Securities Market
Mr. No Lida, CEO of CGCC mentioned that: “To support the bond issuance in Cambodia, the cooperation with CASF and participation in CSBA Phase 3 are necessary and essential for CGCC. Through this MOU and CSBA Phase 3, CGCC will have more opportunities to work closely with various securities firms that are members of CASF, along with other key stakeholders, to guarantee bond issuances in Cambodia. This collaboration is a pivotal step toward accelerating the development of the securities market in Cambodia.”
Mr. Iv Ranarith, Chairman of CASF also shared: “This MoU will enable securities companies that are members of CASF to work directly with Credit Guarantee Corporation of Cambodia to study and evaluate potential issuance opportunities that could benefit from the Cambodian Credit Guarantee Corporation.” He also encouraged all relevant parties, especially bond issuers and companies with potential issuances, to study and explore opportunities to issue debt securities guaranteed by the Credit Guarantee Corporation of Cambodia.
