Logo of Phnom Penh Post newspaper Phnom Penh Post - Message from the Asian Development Bank

Message from the Asian Development Bank

Content image - Phnom Penh Post
ADB country director for Cambodia Jyotsana Varma

Message from the Asian Development Bank

The Asian Development Bank (ADB) extends its warmest greetings and congratulations to the ASEAN Capital Markets Forum (ACMF) on the successful hosting of its 37th Chairs Meeting and International Conference on October 27-28, 2022, in Phnom Penh.

The ADB also extends its congratulations to the Securities and Exchange Regulator of Cambodia (SERC) for its able Chairmanship of the ACMF for 2022, and for carrying forward the initiatives under the ACMF Action Plan 2021-2025 and the Roadmap for ASEAN Sustainable Capital Markets.

In particular, we congratulate the ACMF on the launch of the ASEAN Sustainability-Linked Bond Standards, ASEAN Sustainable and Responsible Fund Standards, ASEAN CIS Digital Repository and the Legal Wrappers for the SDG Bond Toolkit.

We note that these and other ACMF initiatives have benefited from the long-standing Technical Assistance provided by the ADB to the ACMF and affirm our continued support for the ACMF’s Vision 2025 Strategic Objectives of (i) enhancing ASEAN connectivity, (ii) promoting inclusiveness and (iii) strengthening the orderliness and resilience of ASEAN capital markets.

Indeed, even as the ASEAN region continues to recover from the impact of the COVID-19 pandemic, the role of capital markets and capital market regulators cannot be overestimated.

As noted in the recent Asian Development Outlook 2022 Update, Southeast Asia is expected to experience healthy GDP growth of 5.1 per cent in 2022 and 5.0 per cent in 2023.

However, this recovery faces continuing headwinds from, among other things, rising inflation (5.2 per cent in 2022, 4.1 per cent in 2023), a sharp deceleration in global growth, continued supply-chain disruptions, and stronger-than-expected monetary policy tightening in advanced economies.

Against this backdrop, the ACMF’s goal of promoting integrated, inclusive, resilient, competitive and sustainable capital markets continues to have the ADB’s full support.


  • Tensions high ahead of historic Kun Khmer match up

    The long-awaited November 5 matchup between Kun Khmer legend Prum Samnang and Myanmar-Canadian boxer Dave Leduc has become the most anticipated fight of the year. The Wurkz Sena Kun Khmer promotion, which will be held at the Town Arena at Chip Mong 271 Megamall, will see six

  • Manet: Cambodia safe for travel

    Prime Minister Hun Manet acknowledged that Cambodia and China have cooperated to tackle internet scamming, fraud and other cross border crimes, but insisted that the “Kingdom of Wonders” is completely peaceful and safe. He welcomed tourists to come and explore its rich heritage. During a

  • UNESCO formally list Battambang gastronomy

    Battambang, renowned for its cultural heritage, has achieved a significant milestone as the first Cambodian municipality to join the UNESCO Creative Cities Network (UCCN). The UCCN unites nearly 300 cities prioritising creativity and cultural industries in local development plans and international cooperation. On World Cities Day,

  • Cambodia pivots to solar, wind energy

    Cambodia is planning a move towards solar and wind energy to meet its rising power demands, according to Minister of Mines and Energy Keo Rottanak. On the sidelines of the Singapore International Energy Week event held recently, Rottanak emphasised the urgency of diversifying Cambodia’s

  • Angkor causeway symbol of Cambodia-Japan ties

    In a historic moment marking another milestone in the 70-year-long diplomatic relations between Cambodia and Japan, King Norodom Sihamoni celebrated the formal inauguration of a causeway located to the west of the world-renowned Angkor Wat. While presiding over the November 4 ceremony, the King emphasised the

  • Manet calls for Cambodia’s railways to get back on track

    Prime Minister Hun Manet has instructed the relevant authorities to expedite studies into upgrades to the Phnom Penh to Preah Sihanouk railway line. He suggested that the maximum speed on the line should be increased to 80km/h, in order to expedite the transportation of