The Ministry of Industry, Science, Technology and Innovation on Thursday signed a memorandum of understanding (MoU) with the Shanghai Science and Technology Committee (STCSM) on cooperation in the fields of science, technology and innovation.
STCSM describes itself as a component of the Shanghai municipal government on China’s central coast that is responsible for the city’s scientific and technological development.
It also supports cooperation between domestic and international institutions that are relevant to the areas of science and technology, according to its website.
The MoU was inked by minister Cham Prasidh and STCSM director-general Zhang Quan at a ceremony held via video link, the ministry reported.
At the event, Prasidh said the agreement would increase opportunities for Cambodian-Chinese joint ventures to undertake priority tasks.
This includes capacity training in fields such as science, technology, innovation, agriculture, agricultural processing, sanitation, health, the environment, information technology and telecommunications, he said.
“We welcome the MoU on science, technology and innovation between Cambodia and [Shanghai,] China, which will help promote the development of new joint research between Cambodian and Chinese researchers, the exchange of experience, techniques, technologies and new discoveries, as well as collaboration on new projects,” Prasidh said.
He vowed that the ministry would continue to work attentively and place a high priority on shoring up advancements in science, technology and innovation in support of industrial, entrepreneurial and green development.
“The MoU also marks a new achievement for Cambodia in line with the Royal Government’s strategic plan to pursue internal reforms and welcome Cambodia’s external cooperation,” Prasidh said.
At the same event, the two parties unveiled plans to set up a branch of the Green Technology Bank (GTB) in the Kingdom.
The institution aims to mobilise, manage and facilitate the use of green funds and loans to support the implementation of large-scale investment projects in fields such as hydropower, solar energy or those that seek to minimise their carbon emissions and environmental footprint, according to the ministry.
The GTB pitches itself as a “key initiative” launched in 2016 by the Chinese Ministry of Science and Technology and Shanghai’s municipal government.
Its main focus is to enhance green technologies and finance and meet the goals of the 2030 Agenda for Sustainable Development and the Paris Climate Change Agreement, according to its website.