How Investment Promotion Agencies (IPAs) and trade institutions could leverage digital tools to create sustainable supply chain partnerships’

Audience

During her presentation, Ms. Nguyen provided valuable insights into Cambodia’s commitment to sustainability, specifically focusing on the use of organic materials and solar energy. The audience was impressed by Cambodia’s dedication to sustainable practices. One key highlight was the September database, which Cambodia utilizes as a tool to promote responsible trade and investment. This database is crucial in facilitating business practices aligned with sustainability goals.

Cambodia’s strategies on circular economy and carbon neutrality were particularly impressive. The country aims to foster September growth through the implementation of these strategies, which include reducing waste and promoting efficient resource usage. Their commitment to carbon neutrality demonstrates their dedication to mitigating climate change.

The discussion also centered around how Cambodia utilizes the sustainability database to attract green investment. The audience was eager to understand how Cambodia leverages this database to attract such investments, as green investment is essential for promoting sustainable development. The exchange of ideas and insights in this regard emphasized the importance of leveraging the database’s potential to attract investors who align with sustainability goals.

Furthermore, there was an interesting exploration of integrating the sustainability database within the broader Asian framework. The discussion touched upon Cambodia’s participation in the Asian framework for enhancing September growth and competitiveness among member states. The audience expressed curiosity about how the sustainability database could be integrated into this framework, emphasizing the potential benefits for regional collaboration and advancement towards sustainable development goals. The importance of partnerships in fostering economic growth and achieving sustainable development was also highlighted.

In summary, Ms. Nguyen’s presentation highlighted Cambodia’s commendable commitment to sustainability, focusing on organic materials, solar energy, circular economy, and carbon neutrality. The September database serves as a crucial tool in supporting responsible trade and investment. The audience expressed interest in Cambodia’s utilization of the database to attract green investment and its potential integration within the broader Asian framework. Overall, the presentation effectively showcased Cambodia’s dedication to sustainability and their efforts to foster September growth through these strategies.

Nadjati Soidiki

The analysis provides a comprehensive overview of the importance and benefits of digitalisation in various sectors. One key finding is the need for governments to adapt regulations and digital solutions to facilitate trade and improve efficiency. By implementing a single window system for external trade and connecting with customs, Comoros has demonstrated the positive impact of such measures. This highlights the potential for other governments to follow suit and enhance their regulatory frameworks and digital infrastructure.

Another significant point highlighted in the analysis is that digitisation enables equal participation in the digital realm, promoting economic competition. Regardless of the development level of countries, they can all participate equally by harnessing the power of digitisation. This presents opportunities for economic growth and reducing inequalities among nations.

Addressing concerns regarding transparency, cybersecurity, and precision is crucial in the digital era. The analysis suggests that these issues can be effectively tackled through the implementation of digitised systems. For example, the reform of payment systems and recognition of electronic signatures by states are important considerations to ensure the security and transparency of digital transactions.

Digitalisation also plays a crucial role in enhancing investment promotion agencies (IPAs). By adopting digital solutions, IPAs can access the same information, simplifying procedures, and ensuring transparency. This streamlines investment processes and creates a conducive environment for attracting and retaining investment.

The analysis also emphasises the value of shared digital platforms in facilitating information sharing about investment opportunities. These platforms, such as websites and portals, provide a centralised hub for sharing vital information about investment procedures and costs. This promotes partnerships and collaboration in achieving Sustainable Development Goals related to industry, innovation, and infrastructure.

Additionally, the importance of collective capacity building is highlighted. The analysis suggests that by enhancing capacity building initiatives, organisations can equip individuals with the necessary skills and knowledge to effectively utilise digital tools. This approach reduces dependency on third-party companies and allows for more efficient utilisation of resources.

Lastly, the analysis highlights the significance of ready-to-use solutions developed by organisations like UNCTAD. These solutions help reduce the cost of developing and training for the use of digitised systems. This makes digital technology more accessible and affordable, promoting wider adoption and implementation.

In conclusion, the analysis underscores the critical role of digitalisation across sectors, including trade, competition, investment promotion, and capacity building. By adapting regulations, enhancing digital solutions, and addressing concerns related to transparency and cybersecurity, governments can benefit from improved efficiency and increased opportunities for economic growth. Collaboration through shared digital platforms and the use of ready-to-use solutions further support the adoption of digital technologies. It is essential for policymakers and organisations to recognise the potential of digitalisation and take proactive steps towards its implementation.

Ratnakar Adhikari

Digital inclusion is essential for bringing least developed countries (LDCs) into the digital mainstream and enhancing the sustainability of supply chains. Currently, only one-third of people in LDCs are connected, leaving the remaining two-thirds without access to digital technologies and connectivity.

Furthermore, digitizing end-to-end trade transactions can have a significant positive impact on the environment, with an estimated saving of approximately 13 million tonnes of carbon dioxide emissions in the Asia-Pacific region alone. This highlights the potential of digital technologies to contribute to climate action and the achievement of Sustainable Development Goal 13.

One concrete example of the Enhanced Integrated Framework’s (EIF) support for digital projects is the Electronic Single Window (ESW) in Vanuatu. Implemented by the United Nations Conference on Trade and Development (UNCTAD), the ESW has streamlined trade processes by reducing biosecurity certification paperwork by 95% and decreasing the time needed to provide certificates from six days to just 10 minutes. This demonstrates the transformative power of digital solutions in enhancing supply chain sustainability and reducing bureaucratic inefficiencies.

EIF’s support also extends to addressing e-waste challenges. For instance, in partnership with a UAE-based company, EIF has supported Rwanda’s e-waste policy, focusing on reprocessing waste and safely destroying hazardous materials. This contributes to responsible consumption and production, aligning with Sustainable Development Goal 12.

Nepal has also benefited from EIF’s digital support through the implementation of a digitally-based traceability system for organic tea. This system has increased queries from buyers, potentially opening up new export opportunities and facilitating progress towards Sustainable Development Goal 2 to ensure zero hunger.

Additionally, EIF’s diagnostic work helps LDCs by understanding their specific needs, priorities, and challenges, enabling the refinement of legislations and procedures to create a more business-friendly environment. For example, with EIF’s support, Bhutan developed e-regulation, a digital tool that improved transparency and played a vital role in mobilising significant investments. This highlights the potential of digital technology to attract green investments and promote economic growth, aligning with Sustainable Development Goal 8.

In conclusion, EIF’s efforts in supporting digital projects and digital inclusion in LDCs have resulted in significant benefits across various areas. From enhancing supply chain sustainability to reducing carbon emissions, managing e-waste effectively, and increasing export opportunities, digital initiatives have the potential to drive inclusive and sustainable development. Furthermore, EIF’s collaboration with other agencies and provision of small funds for de-risking investments and attracting private sector participation underscores the importance of partnerships and fostering an investment ecosystem conducive to sustainable development. Continued support and investment in digital inclusion in LDCs are crucial for further progress towards the Sustainable Development Goals.

Caroline King

Caroline King, in her discussions on digital transformation, emphasises the importance of collaboration between the private sector and governments. She highlights that governments should take the lead in this process. King mentions that SAP, a leading technology company, has observed the evolution of the company’s interaction with the public sector, indicating its role as an enabler for digital transformation. She further observes that the realisation of the importance of digital transformation in government has accelerated following the COVID-19 pandemic.

Regarding AI technology, King recognises the need to establish standards and harmonization to prevent technology from controlling society. She asserts that AI is the world’s biggest disruptor and advocates working together to address the challenges posed by disruptive technology.

In terms of climate goals, King argues that achieving these goals is a shared responsibility that requires mutual support from both the private sector and the government. She believes that neither governments nor private sector entities can effectively tackle the challenges of climate change alone. King also notes that the private sector, including companies like SAP, can feel overwhelmed by the numerous fragmented initiatives on climate actions. This highlights the need for coordination and financing from the government to enhance collaboration and facilitate progress towards climate goals.

Access to technology and digital tools is seen as a means to enhance efficiency for both governments and private sectors. King highlights that SAP caters to a diverse range of customers, including SMEs, disproving the notion that their tools are suitable only for large enterprises. She points out that SAP utilizes cloud models and modular software, making their tools more affordable and flexible. Furthermore, SAP invests in startups and develops solutions that contribute to sustainability efforts, such as the certification for green hydrogen, which acts as a digital twin for ESG reporting. The company also collaborates on projects related to traceability, such as rural sourcing management in East Africa. The long-term association between SAP and BMW has resulted in the iFactory, which monitors the entire supply chain with real data.

Caroline King notes that public-private partnerships (PPPs) and cross-sectoral collaborations play a crucial role in enhancing sustainability and corporate social responsibility. As an example, SAP has developed certification for green hydrogen as part of a PPP initiative. The company has also engaged in partnerships with Gateshead for capacity building and skills development. Collaboration with governments and organizations is being considered to promote green hydrogen technology.

Overall, Caroline King’s arguments underscore the importance of collaboration, standards, access to technology, and public-private partnerships in various domains such as digital transformation, AI, climate goals, and sustainability. SAP’s involvement in these initiatives serves as concrete evidence of its commitment to enabling positive change through technology.

Long Kemvichet

Cambodia has implemented the Pentagon Strategy, a new social and economic policy agenda, to combat climate change and promote a green economy. The strategy focuses on growth, employment, equity, efficiency, and sustainability. It prioritises investments in key sectors such as digital industries, environmental management and protection, biodiversity conservation, circular economy, and green energy technology. To attract investments in these sectors, Cambodia has introduced the law on investment, 2021, providing incentives for investors.

Cambodia is actively participating in regional efforts through its membership in ASEAN. It is part of the formulation of the ASEAN Community Vision Post-2025, a 20-year strategy termed Vision 2045. ASEAN is working on a Framework on Circular Economy and a Strategy for Carbon Neutrality, aiming to achieve resilient, resource-efficient, and sustainable growth. Cambodia is leveraging these regional strategies to attract more green investments.

To promote sustainability and transparency, the Council for Development of Cambodia, in collaboration with the World Economic Forum, has developed a database for Micro, Small, and Medium Enterprises (MSMEs) to register and provide sustainability details about their products. This database serves as a platform for potential buyers and interested parties to access contact information and product details.

Cambodia has set an ambitious goal of becoming a digital economy and society by 2035. It has formulated a policy framework to adopt and maximise the benefits of digital technology. ASEAN is also negotiating an ASEAN Digital Economy Framework Agreement to accelerate inclusive digital transformation. However, it is acknowledged that developing countries, especially the Least Developed Countries (LDCs), often face challenges in accessing digital technology due to limited resources and infrastructure. These countries require technical assistance, capacity building, and technology transfer from more developed nations.

Overall, global trade discussions and negotiations should be open, transparent, and inclusive. Cambodia is working towards sustainable growth and a circular economy, as evidenced by the creation of a unique sustainability database. The ASEAN region provides Cambodia with a wider consumer base and business environment, offering an advantageous position for its sustainable development goals. Efforts are being made to connect Cambodia’s online marketplace, CambodiaTrade.com, with ASEANonline.

Improving the investment climate is crucial for de-risking investment, and Cambodia recognises the use of public money as an effective method. Blended finance models, which combine public and private investment, can help address investment challenges. The United Nations Capital Development Fund (UNCDF) is exploring a blended finance model that could be adopted.

In conclusion, Cambodia is dedicated to combating climate change, promoting a green economy, and achieving sustainable development. Through its social and economic policy agenda, regional cooperation with ASEAN, promotion of sustainability through the MSMEs database, and focus on digitalisation and investment climate improvement, Cambodia is making significant progress towards its goals.

Moderator

Investment promotion agencies and trade institutions play a vital role in achieving climate goals. They have close connections with the private sector and can influence policies and actions. These agencies and institutions represent their governments and work towards attracting investment and promoting trade. On the other hand, digitalization can contribute to creating sustainable supply chain partnerships and enhance the sustainability of the supply chain. By using digital tools, organizations can improve connectivity and efficiency, leading to more responsible consumption and production practices.

Collective knowledge and experiences from international organizations and the private sector are essential for driving sustainable solutions. The diversity of perspectives allows for the exchange of best practices and the development of innovative approaches. This is particularly relevant in the context of partnerships for the goals, where collaboration between different stakeholders is crucial.

Despite the potential benefits of digital tools, progress in terms of digital inclusion is slow in least developed countries (LDCs). Only one-third of the population in LDCs is digitally connected, highlighting the digital divide that exists. Efforts should be made to bridge this gap and ensure that LDCs can fully leverage the advantages of digitization.

Digitalization can also streamline legal processes and make them more investor-friendly. By embracing digital solutions, governments can simplify procedures, improve transparency, and create a more conducive environment for investment. This is particularly important in attracting foreign investment and promoting economic growth.

Furthermore, the transition to digital operations can contribute to environmental sustainability. Digitization leads to dematerialization, reducing the need for paper and preserving forests. Implementing digital payment systems can also reduce the need for physical movement, thereby promoting sustainability.

In Cambodia, the government has rolled out the Pentagon Strategy, a social and economic policy agenda aimed at supporting the country’s ambition to become a high-income nation by 2050. The strategy focuses on achieving growth, employment, equity, efficiency, and sustainability. It also acknowledges the significant influence of climate change and digital transformation in shaping its goals.

The ASEAN Community Vision Post-2025 is currently being formulated and emphasizes the importance of collective efforts and collaboration to address regional challenges. ASEAN member countries, including Cambodia, recognize the need to work together to achieve sustainable development goals and promote inclusive digital transformation.

SAP, a world leader in business software, acknowledges the importance of government investment and involvement in digital transformation. They have been investing in digital tools and technologies for sustainability, contributing to the development of a more sustainable and innovative business ecosystem.

However, it is essential to establish standards and promote collaboration to prevent technology from controlling us. The introduction of new technologies, such as artificial intelligence, should take into account the need for proactive regulation and the establishment of ethical frameworks.

Overall, the transition to a digital economy and the adoption of digital tools can bring significant benefits, including economic growth, sustainability, and inclusivity. To fully harness these benefits, governments, organizations, and international institutions must work together to address challenges, bridge the digital divide, and promote responsible and sustainable digital transformations.

Moderator:
Thank you very much for being here. This is the – it might be actually the last session of the WTO public forum, and I would like to welcome you all to our session on how investment promotion agencies and trade institutions could leverage digital tools to create sustainable supply chain partnerships. We have been partnering with EIF of WTO to put together this session. As you know, we have little time left to reach climate goals, and every actor is extremely important. Two very important actors are investment promotion agencies, if I may, as we are proudly the Association of Investment Promotion Agencies, as well as trade institutions. Therefore, we do believe that they can take a very important role to make sure that we can utilize some digital tools to make sure we can create some sustainable supply chain partnerships. They are extremely well-connected with the private sector while they are presenting their governments. We do believe that they can be taking a very important position to make it happen, to make these partnerships happen. Digitalization, of course, has ushered in a new era of connectivity and efficiency. It has transformed the way we work, the way we live, and the way we engage with the world. Today, we come together to explore how these digital tools can serve as catalysts for creating sustainable supply chain partnerships that benefit not only our organizations but also our communities and our planets. In this room, in this small room but very beautiful room, we have the collective knowledge, we have the best case experiences, we have international organizations being represented as well as the private sector. On the private sector side, we have Excellency, Madame Caroline King, she is the global head of business development and government affairs, and she is also a proud member of WIPA business advisory board. I would like to welcome her. We also have from the international organization side, we have Mr. Ratnakar Attikari, who is also our host, our partner, our great support for our work, for our projects, for the LDCs, for our project with the LDCs, and he is the executive director of EIF executive secretariat. And of course, we also have a WIPA member, investment promotion agency, Madame Nejati Sawadiky, who is the director general of ANPI Comoros. And we also have a representative from Cambodia, Mr. Kimwichet Long, the director general for international trade at the Ministry of Commerce of the Royal Government of Cambodia, if I may. So I would like to welcome you all. I’m not going into too much detail of your CVs, there are brilliant CVs, but let’s just focus on the discussions, let’s just focus on your knowledge, this is going to be more beneficial for all the participants. I would like to thank you again for participating. Let’s start with the first question, if I may, to Mr. Attikari. Mr. Attikari, with your extensive background in international trade and LDC perspectives, could you share specific digitalization strategies or tools that have proven effective to help enhance sustainability of supply chains? Thank you again for being a great host, and I’m welcoming you to the floor, Mr. Attikari.

Ratnakar Adhikari:
Thank you, Smile, and being a host. And he keeps insisting that you are the host. We are the co-host, actually. So I would also like to take this opportunity to welcome all of you distinguished members of the panel, as well as participants. What I would like to mention in relation to your first question is that, yes, digital strategy and tools can definitely help enhance sustainability of supply chain. But what is needed, first and foremost, is the digital inclusion, or bringing LDCs into the digital mainstream. So what needs to be done is to bring them from digital marginalization to digital mainstream. So this is important in the context of the fact that LDCs, despite significant changes or achievements that have been made so far, it’s still 2 third. I mean, if you look at a glass half full, you would say 1 third people in LDCs are connected. But then, if you look at half empty, 2 third are not connected. So that’s one of the things that need to be resolved. And it takes time. And progress is there, but then it is very slow. That’s the number one. Number two, look at the potential. The research conducted by UNSCAP in Bangkok, they came up with this finding that if you digitize end-to-end trade transaction, on an average, end-to-end entire transaction, on an average, it is almost equivalent to planting of 1.5 trees. In the Asia-Pacific region, and that’s where the research was done, if you digitalize all the end-to-end transaction, trade transaction, it will be equivalent to saving 13 million tons of. of carbon CO2. So that would be a huge saving. But despite all of the challenges, we have contributed in our own little way to help in the sustainability of supply chain through digitization. I just want to provide three examples. One is the paperless trade. What we’ve done in Vanuatu is to help them to establish electronic single window. And this project was actually initially supported by us. They were able to mobilize additional resources from the government of Australia and the World Bank and others. Then UNCTAD, our partner, they implemented the project by installing the ICQDA model and everything. So as a result of which, what happened was that the biosecurity certification, the paper formalities were reduced by 95%. And for cargo clearance, paper formalities were completely done away with. Everything was digitalized as a result of which. And then on top of that, what has happened is that for biosecurity certification, the trips that various businesses needed to take in order to obtain those certification and the paperwork done, that has been reduced by 86%. And in the case of cargo clearance, it’s completely done away with, right? So as a result of which, the now time taken for providing the certificate, it used to take six days. Now it has come down to as little as 10 minutes. So that’s one example of how our little support has contributed to enhance the sustainability of supply chain. And then this has also resulted in almost six tons of carbon CO2 being reduced. So that’s one example. And if this can be scaled up in other countries also, as well as in the other countries in the Pacific, as well as elsewhere, there will be a huge impact. That’s number one. promoted the government of Rwanda to put in place what is known as e-waste policy, right? And then once that e-waste policy was put in place, they invited a company from United Arab Emirates to enter into a kind of a PPP, public-private partnership modality, whereby they are now able to reuse plastic and some of the metals, particularly are converted into iron bars for the construction of schools, as well as new airports, and all the hazardous waste. And they have also found a mechanism how to destroy and how to safely destroy the hazardous waste. So that’s another example. And the third one is from my own country, Nepal. What has happened is that we supported them project for the traceability of, enhancing traceability of tea, which would help them eventually to increase their export of organic tea, and to reduce the rejection rate, and which is also an important component of supply chain sustainability. So what we’ve done is to help them to put in place a system of traceability, which is based on digital technology. And as a result of which now, I mean, this project is still ongoing, and they are quite encouraged by this. And many companies are now receiving inquiries from their buyers, you know, which would eventually pave the way for them to be able to export. So these are a few examples that I want to share right now. And I’ll stop here in the interest of time.

Moderator:
Thank you very much for sharing these examples in Vanuatu, Rwanda, and Nepal. It’s also, we should also note that that progress is, of course, there, but it’s going very slow. Let’s also try to listen from a representative from an LDC, actually, as we have Madam Swadiki with us. As someone with the expertise in business law, could you elaborate on how adapting to changing needs and regulations impacts Ampicomoros, and how can legal processes be streamlined and made more investor-friendly through digitalization in the Comoros?

Nadjati Soidiki:
Thank you very much. I would like to thank WIPA and the CIR for organising this session, which is extremely important and the subject of which is very relevant, and for allowing us to express ourselves on a subject that is also extremely important. Our colleague, the Executive Secretary of the CIR, has just spoken about Unique Guichet and what digitalisation brings, in particular by allowing us to dematerialise, to no longer use paper and to preserve our forests. Thank you very much, and I would like to apologise in advance because I’m not a professional interpreter, but I’ll do my best. Thank you. Madame Swadiki was thanking WIPA and the EIF for this session, which is a very interesting and important subject. As mentioned by the Executive Director of the EIF, he mentioned that digitalisation allows us to dematerialise operations. To achieve this result of dematerialisation, we, our countries, are all obliged to reform our regulations, and this is the work of our investment promotion agencies. to make it possible to improve the business climate. So digitization poses several challenges. We must know that when we want to digitize, we must make sure that these procedures are faster, that they save time, that they are more transparent. We must also make it possible for issues such as cybersecurity to be taken into account. There are very practical issues that we must be able to integrate so that these solutions can work. Issues such as electronic signature, which must be recognized by our states. Issues such as the reform of payment systems, because digitization means being able to make payments online to avoid moving around. Because, in the end, the durability is true. All these trees that will not be cut to make paper, but it is also all these movements that we will not have to do because we will be able to do our procedures directly behind our computers. If we talk about supply chains, we must also think about the issue of e-commerce. And e-commerce also needs to be regulated in our states to plan the regime that applies to transactions that are made over the Internet. And all our countries must be able to set standards and be able to level up by adopting regulations in these areas. There is also the issue of telecommunications, which are essential. So, yes, in regards to the dematerialization, the countries have to apply some reforms. And that is one of the roles of the IPAs. There are a lot of challenges. They have to act more rapidly, with more transparency, and there’s also the question of cybersecurity that has to be taken into account, as well as the question of electronic signature that needs to be recognized also by the government. There’s also the challenge linked to the system of payment, to pay online of course, because sustainability, it’s about avoiding trees to be cut, but also to facilitate the procedures. In regards to the value chains, it’s also touch upon e-commerce, and all the governments need to apply some rules, and to be up to date. It’s also important to adapt the regulations, and to integrate software, technical solutions that can lead to digitalization. Very quickly, I’m going to cite the example of Ecomore, who have put in place unique systems, both for e-commerce, and for other procedures, such as the creation of companies, which is essential in terms of implementation, where we have also put in place these unique systems. I will finish before moving on to other questions, to say that, whether we are PMA, or whether we are developing countries, we cannot avoid this imperative of digitalization, and that today, countries are competing with each other, and that when the neighboring country has put in place a solution that allows import, export, trade, or invest, to do business in one hour, and that we are next to it, and that we need a month, inevitably, we are going to be stripped of the business card, and so we have to adapt. Thank you very much. So Madame Swadiki was saying that the government has to adapt their regulation and also to adapt their digital solutions. So she gave the example of Comoros, which has in place a single window system for external trade and also to connect with the customs, thank you, and also to help trade companies. But she was saying that in general, maybe LDCs, developed countries, or any other country, it is important and it has to move to digital because the countries are in competition between each other, meaning that if one country has a solution and can have procedures done in an hour while the country itself needs a month to do the same thing, then they will be left behind. So it has to file both. Perhaps to conclude, when we say that the digital allows competition, no matter the level of development, even for the countries that misses the train of the industrial revolution, we often say that we can catch up with the train of the digital revolution. For proof, today we are able to implement similar solutions, no matter the category or the level of development of the country. And so it really allows these different countries to put themselves at the same level on this kind of tools that have become necessary in the use to promote value chains or to facilitate the chains of long-term supply. So digital is also a way… to put in competition all countries together, even if all countries can be in competition together, maybe LDC or whatever, they are all on the same style because it is possible to catch up on the digital transformation and all the countries can be equal.

Moderator:
Thank you very much. Thank you very much, Ophel. I mean, although you are not a professional interpreter, you are doing a great job. Thank you for that, especially. And we are here also to listen best case experiences and we have Mr. Long representing Cambodia. And actually, one of the best practices that I have in my notes is the supplier’s database with sustainable dimensions that was developed by the Council for Development of Cambodia to improve the linkages between foreign firms and domestic suppliers. If I would like to come to my question, Cambodia’s commitment to climate goals trade is evident, also given its vulnerability to climate change. Can you provide insights into the specific actions taken by the Cambodian government to address these challenges? And how do these actions align with the greener regulations and international agreements Yes, thank you very much, Ismail, for giving me the floor here.

Long Kemvichet:
Firstly, it is my pleasure to be part of this distinguished panel. Well, I have to say it is really fortunate for me to speak here at this session because I get to share with you our new social and economic policy agenda that the Royal Government of Cambodia just rolled out, in fact, just rolled out in August of this year. What we call the Pentagon Strategy. So the tagline for this strategy is growth, employment, equity, efficiency. and sustainability. So the themes of our session here today, in fact, it fits quite well into the strategy that we have just rolled out. The strategy is to support the implementations of what we call Cambodia Vision 2050, which is our aspirations to become a high-income country. With response to the questions, I just want to highlight a number of factors that influence the formulation of the strategy that I just mentioned. First is the geoeconomic fragmentation and de-globalization. These kinds of trends, it impacts the flow of goods, services, and investment. In fact, it also causes the supply chain disruptions, which is something that we are talking here today to discuss how we can solve this. Second is the digital transformations, because as we know, digitalization has increased its significant role in economic activities, business, and governance. It’s everywhere. The third is environmental and climate change, which is the main question that is addressed to me. Well, I just want to go a little bit deeper into the strategy. The name suggests it is shaped like a pentagon, so there are many pentagons, and there are subsets of pentagons, all of them with five sides, and each side includes a strategic objective that the government wishes to achieve. Because there are too many pentagons in the strategy, I’m just focusing on what we call pentagon number four. So the pentagon number four is on resilience, sustainability, inclusive development, and particularly side number five of this pentagon number four. I hope you don’t get confused with all these pentagons and sides. But the side number five of this pentagon, number four, it focuses on ensuring environmental sustainability and readiness for responding to climate change, as well as the promotions of green economy. So it’s very important, this strategic objective, especially, you know, in terms of responding to environmental and climate change challenges. And so it’s also give a very clear indication on where Cambodia is heading, you know, that is to transition into a resilient, sustainable, and inclusive green economy. There’s another one that probably related to the theme of this session, but for the interest of time, I’ll not go through that pentagon number two, which is on economy diversification and competitiveness enhancement. But I just want to touch upon the sectors that we are looking to promote and to attract investments. Because there is also the law on investment, which was promulgated in 2021. So it’s quite new. So in this law on investment, we are looking to promote and attract, you know, investment in priority sectors. And also we are looking, you know, if there are investment in these priority sectors, the government will also provide a lot of incentives as well. So I just want to highlight a few sectors, which we call these priority sectors. One is the digital industries. So it’s really related, you know, it’s quite relevant, you know, digitalization and climate change and how we can utilize digital technologies to become greener, to strengthen supply chain resilience and all these things. And the second priority sector is on the environmental management and protection, biodiversity conservation and circular economy. And then the third one that I want to highlight is green energy, technology, investment in green technology and technology that contribute to climate change adaptation and mitigation. So these are some of the, you know, strategies that we have in place to promote green transitions. I’m not sure I have more time, but if you don’t mind, I’ll just go quickly to what we’re doing at the regional level because, you know, Cambodia is part of ASEAN, so ASEAN, we have the 10 countries in Southeast Asia plus Timor-Leste that will become the 11th member very soon. In ASEAN, we are currently formulating what we call the ASEAN Community Vision Post-2025 because we have until now the Vision 2025 for ASEAN community, but we are looking forward to the next vision will be a 20-year strategy, will be Vision 2045. So we have like strategies and tools, so what we have at the regional level is what we call the ASEAN Framework on Circular Economy for the ASEAN Economic Community. I just want to highlight three strategy goals of having, you know, for this ASEAN Framework on Circular Economy. If you like, we can get the perspectives for the ASEAN in the second part, or I can also leave you to continue because it’s going to be in the part of the second part, but I can also leave you to continue as you prefer. Okay, let me just finish the ASEAN part, because it’s going to be finished soon. So, sustain resilient, resource efficient and sustainable growth, that’s the aim of the ASEAN Framework on Circular Economy. But then again, we also have the ASEAN Strategy for Carbon Neutrality. So this carbon neutrality strategy, it has the aims to accelerate inclusive transitions to green economy, fostering sustainable growth, and trade competitiveness for our members. We have to understand that, you know, the trends that we have here is that, you know, a lot of focus has been put upon green transitions, and we have to turn that into, you know, opportunities. So there are opportunities for ASEAN as a region to attract more green investment into the region, and therefore, you know, provide all the benefits to the people. So I just want to, if you don’t mind, just one point on the sustainability database. That was actually supported by the World Economic Forum in cooperation with the Council of Development of Cambodia, which is the investment promotion, investment development agency for Cambodia, actually. So we have a lot of MSMEs who actually, you know, registered to the database and provide all sorts of sustainability elements, you know, from whether they are using organics material, you know, whether they are using solar energy, you know, all these sustainability elements are provided. And then if there are, you know, buyers or someone who are interested in those products can go in and check out who is doing what in terms of, you know, implementing sustainability strategies for themselves. And then obviously there are, you know, contact information that, you know, both parties can contact one another. So I’ll stop here. Thank you very much.

Moderator:
Thank you very much for sharing these good examples on Cambodia’s vision and strategy to succeed, to somehow reach sustainability goals. I mean, as we were recently speaking in a previous session that… I have been speaking of EIF, I mean, the connection between the private sector and the investment promotion agencies and the trade institutions I think is the key. We must make sure that interaction between these two institutions are there. I mean, and time to time we may not be sure, we may not be 100% sure whether the connection is really there. And we would like to understand this, whether it is from your perspective, Ms. King, as the private sector part of the discussion. What role can be played by the private sector and vice versa? Perhaps it should be the role of IPAs, role of the trade institutions as well should be there. Also, it can be also private sector should also have some things to do. So how do you see this equation? Where should be the – this interconnection can be further enhanced in your opinion? Thanks.

Caroline King:
It’s my pleasure to be here and also nice to see so many of you on a Friday afternoon. Hello. I’m fairly late. I have been with SAP – and I’m too quick, please slow me down. I’ve been with SAP about 23 years now, so I have had the chance to see the evolution of this company’s interaction with the public sector. In the early years, our founders were like every IP startup, they really didn’t want to have anything to do with government. Hasse Plattner, still very active in the background, many of you may know him, always accused me of bringing yet another goose breeding project to his desk. I don’t know where he got that expression from in German. It’s a little funnier, I suppose, than in English. But now, look where we have come. It’s unbelievable. We cannot do the business without a purpose anymore. It’s a 180-degree change for me. They used to laugh at me in investor relations when I said you have to look at the ROI of sustainability. There is a triple bottom line. They thought I was crazy. I have my – am I just deserts these days, and why is that? What has happened? Well, of course, it’s a win-win for a company like SAP to invest in these technologies and to sell them. We’re an enabler. We offer these tools. And it’s important for an SAP to recruit new young talents. And the digital skills problem is a huge one globally. So we spend a lot of money on training, even school kids, coding in primary schools. We never used to do that. We always just focused on the university students. But the skills gap is a huge issue. We also need governments to take the lead. We need them to be investors in digital transformation themselves. You know, we’ve had this climate challenge a long time, but I never really saw much change with government interest in digital transformation until COVID. And then suddenly everybody, oh my God, you know, we’re still working with Excel and Pencil. And we, our, it says SAP is world leader in business software. If we’ve been around for 50 plus years, I was told I should say this again in case some of you don’t know, because it’s a B2B company. So unlike Microsoft and Oracle, and we’re at that category, it’s, we’re not so well known because we don’t sell to the consumers. We don’t make phones. We provide the backbone for any organization, no matter how small, to quote the Grinch, and no matter how big, for personnel management, financial accounting, logistics, public services, and private sector. But our public sector business is still like 4% of our global revenues because governments were cautious about the investment, not always the technology leaders in the know-how side. And frankly, we also had a lot of trouble selling software when governments realized that it makes all of their processes transparent. And corruption is still a huge issue out there. So it’s an interesting discussion at many levels. But now the technology is moving so quickly. If we don’t work hand-in-hand on the standards, I’m so happy to be here, and I had a great conversation with the ITU today. We must work hand-in-hand on the standards. AI is the world’s biggest disruptor for all of us, including a big old company like SAP. If we don’t get ahead of the curve on those standards, and we don’t all work together on harmonization and level playing field, we’re all going to be in trouble. We’re not going to be in control of that technology, where the technology will control us. So these days, we need to work together. We need to work together on the climate goals. Governments can’t manage it without the private sector technology, and we can’t manage it without the financing and the coordination. There’s so much patchwork, wonderful initiatives, but it’s overwhelming for a private sector player like SAP. Where do we participate? We don’t have dollars to throw at everything. Where do we get the biggest bang for the buck? We are a big partner of UNICEF. We have been asked to copy and paste this program for other UN family organizations. UNICEF, you can speak to the other UN family organizations. Why do we have to do that? There’s a lot of work to be done, and we have to do it hand-in-hand.

Moderator:
Thank you so much. We can’t control ourselves. Perhaps technology controls us. It can be a better option, perhaps. I work for technology today. I don’t know. All right. Let’s see. By the way, if you have any questions at any moment, I think it’s going to be more open discussion. It can lead us to a better and more open discussion site. I’m going to continue with the second part of our questions, if I may. The second question is for Mr. Atekari. Can you explain how LDCs can attract green investments and promote exports growth by utilizing digital technology? It’s a very direct question, but I’m sure with your expertise, with your background, you can make it more flourishing.

Ratnakar Adhikari:
Thank you. Thank you so much. This is our bread and butter, actually. I’ll give you three examples. With the help of three examples, I want to explain this question, actually respond to this question. Something that we do is called Diagnostic Trade Integration Study. And this is the foundational work that we do at the country level. For those of you who do not know EIF very well, I just want to mention this, that the moment any country walks into the EIF and then starts asking for the support, the first thing we ask them to do is to conduct diagnostic work because we need to understand clearly what are their needs, what are their priorities, what are their challenges, right? So this is the document that provides that. And then we update it regularly, three to five years for each LDC. So and we only work in least developed countries, and there are 46 countries where we work. These are least developed countries and five recently graduated countries. So what the DTIS does is to identify a priority action metrics, right? What needs to be done? And then various sectors, sectoral intervention or intervention that are crosscutting in this. Agricultural transformation could be one of the intervention, and then for which, you know, there are X number of things that need to be done. For example, and then infrastructure development, be it clean energy or any other kind of energy, that could be another area, or green sort of industrialization, that could be another. So there could be various areas, and then agriculture and what have you, right? So what we can possibly do, we can do better actually at it by helping these countries not only to prepare the DTIS, but also to cost the intervention. You know, all everything is budgeted, and this would, you know, this would then very well define, you know, where the money is going to come from. Is it going to come from the public sources? If it’s public source, whether it’s going to come from the government treasury or from aid for trade resources, such as the one that we provide, or from other official development assistance. or from the private sector, right, or impact the investment and the refinance and what have you. So once that is done, then it is easier for the government to prepare, to start preparing projects and, you know, then inviting investment from not only from the foreign investor, but also local investors. That’s one way through which the green investment can be mobilized and with the eventual goal of helping them to enhance their export. That’s number one. Number two, investment promotion and facilitation, the kind of work that we are doing together. But then, you know, that’s more at the international level that we are working, but also at the national level. What we have is the National Implementation Unit and the National Implementation Arrangement in place. And one of the responsibilities for them is to prepare, you know, I mean, revise the legislation and procedure in order to make their environment more business friendly. You know, a country such as Cambodia, who is a beneficiary of the EIF, has done it very well. Comoros, and a few other countries have done it, right. So that’s one. But here I want to provide, that’s a general approach, and as a result of which our intervention, some of them have managed to certainly improve their investment climate. But a very specific example that I want to provide here is the example of Bhutan. What they did was, through our support, you know, they put in place what is known as e-regulation. And e-regulation is basically a digital tool and basically a website where you have all the information, particularly for the investment. They worked together with UNCTAD, and what they were able to come up with is a kind of a website where you have all the information. It is a great transparency exercise. It has all the rules and procedure on the business registration, and then it has on fiscal matters, tax-related matters, land acquisition, everything on a single website page. Then, that was also then circulated to the… various missions and embassies of Bhutan elsewhere, I mean, wherever they are present. And this actually initiative was launched in November 2020 at the height of the pandemic, November 2020. So we have somebody from Bhutan here if you want to ask more questions. So, and then between that period and August 2022, that’s the time when we have the latest data, they were able to mobilize investment toward 1.2 billion Nultrum, which is equivalent to 365 billion US dollar. And part of that was local investment, part of that was foreign investment also. We haven’t done accounting as to how much of it was green investment and how much of it was brown investment or black investment, but then definitely that’s one area worth exploring. And this is something that I want to highlight. And the other is the kind of work that we are doing together with WIPA. So we are building capacity of investment promotion agencies to be able not only to attract foreign investment, but also to retain them by providing aftercare services and everything, right? So this is covering, initially we started out with Anglophone countries, then we realized that we haven’t done anything in Francophone countries. We now started and then we are now happy to know that our Francophone countries are also quite capable. We have the DG of the National Investment Promotion Agency of Comoros who would explain in further details. And then we are also working together with UNCTAD, which is our partner, and then WIPA as well as UNIDO and other six agencies all together in order to promote investment on sustainable development sectors. When we talk about sustainable development sectors, one of them is definitely the green sector. And finally, finally what we can also do is that we can provide tiny little money, you know, a drop in the ocean, not a drop in the ocean, drop in the class, up to $1.5 million that we have provided, and in some cases even $3 million. So we provide that money to de-risk investment so that it will help the private sector to jump in. Then the private sector would say that, OK, you’ve taken the first last bit, and then the government has put in some money, and there’s some public investment. Then it becomes attractive for them to make investment. And this is the kind of blended finance that we think is going to be the future. I mean, just the way EI is going to be the future of technology, I think blended finance is going to be the future of investment. I stop here. Thank you.

Moderator:
Thank you, Mr. Atikari. This is a project that we have been always proud about, the joint project that we’ve been doing together with EIF, and to make sure that the IPAs can also coordinate, let’s say, efforts together with the NIOs and the other institutions in the area. Therefore, we have always put, let’s say, private sector in the middle of whatever we do. I mean, you have been one of the great partners of this project. Therefore, we always hope that this is going to be turning into useful and operational efforts that we’ve been putting together with the important support of EIF. And I would like to continue with my next question for you, Madam Swareky. As Vice Presidency of RIAFP, what collaborative initiatives or digital platforms have been effective in promoting investment in emerging economies or LDCs, and how these experiences benefit other countries seeking to attract investment? If you have any examples, please. Thank you.

Nadjati Soidiki:
I’m going to go back to something that was said by my left, by Madam Carol Wilking. Thank you. In introduction, we know that digitization, for us, investment promotion agencies, serves two objectives. The first is the simplification of procedures and the second is transparency. This transparency is obtained by the availability of information and the same information for all. Before everything, Madame Swaricki wanted to come back to what was mentioned by the representative of SAP, so that’s digitalization for IPAs. Digitalization for IPAs has two objectives. One is to simplify the procedures and the second one is transparency. Transparency can be obtained by having available information and the same information. Thanks to the different organizations that bring together the investment promotion agencies, WIPA is one of them. There is an organization of French-speaking investment promotion agencies. We are also members of the Colnesa investment promotion agencies. We can put together the resources to develop platforms that share this information. We will have websites, portals and other things that allow us to find out about investment opportunities, procedures and procedure costs. We talked about corruption, procedure costs, opportunities, project banks, etc. through these platforms that we develop together. The second thing that is very important, besides the information that we can share through these platforms, I think, is to be able to benefit from capacity enhancement all together in order to be able to use some of these digital means that give access to information. I will use the example of e-regulations or e-registrations that are developed by UNCTAD, the CNUSED. These are means that allow our agencies to have access to information. to have ready-to-use solutions, because digital technology requires a lot of technical expertise, a lot of funding, and here we are developing solutions that are ready-to-use. And we all benefit from being trained on how to use these solutions, without having to be a developer, a coder, or to recruit third-party companies, whose cost for certain agencies is very high. This is something very positive that needs to be strengthened. to have access to the procedure, the cost of those procedures, information about the investment opportunities, the bankable projects, and a second important thing is the capacity building for everyone to know how to use those digital tools. So the example of the tools by UNCTAD, which are ready-to-use tools, is great, and also because it comes along with a training to use those digital tools, and so it avoids countries to pay an additional cost for training and putting in place such tools. I’m going to finish. I have to talk about the program that was developed by the CIR and the WIPA to strengthen the capacities of French-language investment promotion agencies. It’s not invented, but we had organized a master class at Moroni recently on the topic of using artificial intelligence to promote investment. So we are in the middle of the subject, with very concrete topics that have been addressed. in the presence of all the agencies, and we had a very practical exercise where we asked Chad GPT, in such and such a country, what are the different opportunities, if I have to do my investment promotion strategy, what are the different opportunities that I would put forward, and Chad GPT gave us a very interesting answer for several of our countries. So, to come back and refer to the EIF and YPAT joint project, which is about building capacity for francophone investment promotion agencies. So, recently in Moroni, there was they had a master class to know how to use artificial intelligence to promote investments, and one of the exercises was to ask Chad GPT what could be the promotion strategy to, for each country, what would be the points to promote for an investment strategy, and the answers from the EIF was pretty interesting.

Moderator:
Thank you very much for sharing these examples and I’m happy that I would like to see the answers from Chad GPT, actually. Yes, look forward to it. Thank you very much. And Mr. Long, I would like to continue with you, if I may, and you have a vast experience. You’ve been working with ASEAN. You have already mentioned some efforts that you have been putting together at ASEAN. You’ve been also working with the WTO. Do you really think that the digitalization can help some developing countries and their voices to be heard better while the decision-making processes are being taking place? What is your opinion on that? If I may, please. Thank you. Yeah, well, first of all, my answer to your question is not from Chad GPT. That’s for sure.

Long Kemvichet:
I have to start by saying that, you know, yeah, yeah, let me continue with my answer. You know, digitalization should not be a barrier, I think that should be very clear, but it should be a catalyst for resilient, sustainable, and inclusive economic transformation, especially for their disease. Well, I will come back to this point at the end of my intervention, but just similar to what I presented in my first intervention, I will first touch upon Cambodia’s perspective and then the regional perspective from ASEAN, and then I’ll come back, as I said, to the point that I just made. For Cambodia, we strive to become a digital economy and a digital society by 2035. There is a policy framework in place. This policy framework is focusing on adopting and capturing and maximizing the benefits of advances in digital technology to increase productivity, economic efficiency, boost national economic growth, and build a civilized society where citizens can benefit from the use of digital services with high inclusiveness, reliability, and trustworthiness. At the ASEAN level, we are on the path to negotiate an ASEAN Digital Economy Framework Agreement, what’s called the DEFA. The DEFA looks to accelerate inclusive digital transformation in ASEAN, thereby elevating ASEAN economic integration and community building by embracing digital transformation for the benefits of its economic community and people. So as we see, from both national perspective and from the ASEAN perspective, there’s a lot of emphasis on the development. and dimensions of digitalization. So the national strategy and the regional framework, we are putting people at the center, which is very important. So putting people at the center, having a people-centric approach, and focusing on inclusiveness, resilience, community, and society building. That is the main pillars of both the strategy, the national and the regional framework. In terms of participating in global trade discussions and negotiations, I think what the developing countries, especially the LDC, need is to bring these principles to the table, the principle of people-centered, inclusiveness, resilience, community, society building. These are the principles that I mentioned. And then reinforce the notion that digitalization should bring benefits and should not be a barrier for development. Developing countries, especially the LDCs, we should not be deprived of leveraging the benefits of digital technology, just simply because, as we all know, especially the LDCs, we’re lacking access to the technology, there’s lack of human resource, there’s lack of workforce available, and most importantly, the limited infrastructure, digital infrastructure that we have. So this requires a lot of investments. You know, to overcome these challenges, I think what we need to do is, you know, everyone needs to work together, especially the well-off countries, the developed countries need to contribute to provide appropriate technical assistance to improve accessibility and, you know, infrastructure, obviously, to build capacity, technology transfer, and other essential supports to ensure that people get the benefits. And in terms of engaging, I think the LDCs, we still need to continue to engage in all the platforms. When we’re talking about digitalization, e-commerce, digital trade or whatever, we have to continue to engage. But I have to say that the platform for engagement, it should be open, transparent and inclusive. Thank you.

Moderator:
Thank you. Thank you so much. Access to technology, access to workforce has been, let’s say, one of the main challenges in LDCs in developing countries. Perhaps private sector could have some options, some facilitations that could be provided. Let’s turn again to the representative from the private sector, Mrs. King. And you know, there are perhaps some cross-sectoral collaborations, if any, that can be enhanced by digitalization, have successfully achieved both corporate social responsibility and sustainability goals. Additionally, in your role of government relations, are there any – how do you see digital tools aiding governments? Let me put this this way. Can they really utilize it in an efficient way? Or how these digital tools can be utilized in a more efficient way by governments as well as the private sector? What will be your thoughts on that? Thanks, Mario.

Caroline King:
I think it’s become a lot easier. One of the things that SAP still – we still hear out there is that this is a – you know, the big old dinosaur in the software market that only creates solutions for LEs, for large enterprises that you can’t afford in SAP software at the micro level. And that’s just not true anymore. It hasn’t been true for a long time. Eighty percent of the company’s customers are SMEs. And with the – The evolution of cloud models, the whole licensing, the whole way we do business has changed, and the software is much more modular. So we have a lot of interesting developments at the front end of the business, so you can think of a big mothership, and then there are all these speedboats cruising around the mothership developing new technologies with the help of startups. We do a lot of investment in startups. Of course, we’re also interested in the talent and the new ideas, and so we develop partners and acquire, take over some of these as well, but we also have intrapreneurs, so one interesting solution, just to cite a couple of examples that always makes it easier, is a solution we developed for the certification of green hydrogen, so that in the transport from start to finish, you can keep track not only of the, is the hydrogen still green in the environmental, strictly environmental sense, but also as a digital twin for ESG reporting. So this is an intrapreneur solution that was developed in Australia by an SAP employee, and we’re now certified it with, and worked on a partnership with GEZ, the German Technical Cooperation Agency, and are offering this technology in partnership with governments and organizations that are interested. So in the Brazilian, German delegation trip, or the German consultations in the fall, we kicked that off in Brazil, but it is available, something that we could consider, just one example among hundreds, of a PPP. We do a lot with Gateshead, most of it’s on the capacity building, on the skills development side, as a German company, it’s just our first natural partner, so to speak, in that landscape. But there are also interesting opportunities in technology. Another one is something we did in East Africa, a project on the Cashew Coast, about traceability. So we created a rural sourcing management on a mobile application, front end, small, modular, not the big SAP Cadillac that you would typically think of, to help process payments for the farmers, so that they could also track the… development of these, of the cashew from harvest to delivery. Of course we have big solutions at the other end, I mean supply chains, it’s interesting to see what’s going on in the private sector. We just opened, BMW just opened the first iFactory with a digital twin to monitor the entire supply chain with real data in the UK, that’s their first global project. I only mention that in this context because it’s really a first for them and it’s really only possible because they’ve been so long an SAP customer, they can use their own data. This is a huge advantage, data is the new oil, right? Most of the emissions monitoring we’re doing, whether it’s scope one, two or three, is based on averages and this is a chance of course that an SAP can offer because we have a huge, 50 plus years of experience in 23 sectors, we have a huge database of real-time data. It’s customer data, so of course there’s a process to go through to get this to be open and accessible, but there is an enormous interest and there are a lot of smaller projects on this data sharing side too. So from the small to the big, there are a number of opportunities for optimizing supply chains, real-time data, measuring carbon footprints, doing predictive planning, measuring your performance against the achievement of SDG goals are just a few of the things that we’re working on these days. Thank you.

Moderator:
Thank you so much, Caroline. There are a lot of things to be done, apparently, from all sides, not only private sector but also from international institutions as well as IPAs and trade institutions. So if I may, I would like to turn to you now, if you have any questions to our – wow, that was fast. Thank you.

Audience:
Thank you, moderator, for giving the floor to ask my question. So my name is Bo Yi, a law professor from Southeast University in China. My question is to Mr. – Thank you, Ms. Nguyen, for your comprehension and enlightening presentation. I was particularly impressed by the depths of Cambodia’s commitment to fostering September growth through various strategy areas, including the focus on the circular economy and carbon neutrality. Your speech about Cambodia’s September database also caught my attention. It seems like an invaluable tool for promoting responsible trade and investment, and by providing transparency on sustainability elements in the use of organic materials and solar energy. So my question is, how is Cambodia navigating this sustainability database to attract green investment? Additionally, are there any plans to integrate this resource within the broader Asian framework to naturally enhance September growth and treat competitiveness across member states? Thank you.

Long Kemvichet:
Thank you. It’s a tough question, but I’ll try to answer it anyway. The sustainability suppliers with sustainability dimension, for me, it is a really great idea. It has never been done before in Cambodia. This is the first time that we ever compiled or collate all the SME into one single database. And that database not only provides all the contact information on what kind of products and services they are providing, and also not only the certificates, all the certificates that they are complying with, but also with the sustainability dimension elements. We try to adapt this kind of approach in our other platform, what we call cambodiatrade.com, which is we receive the funding and support from the EAF. And I want to highlight this cambodiatrade.com platform a little bit because, as I said, we try to adopt the sustainability approach because the cambodiatrade.com platform, we have 130 SMEs who are participating in the platform. It’s an e-commerce platform, I have to say, focusing on B2B, and also we have some B2C operations as well. And we try to encapsulate what the sustainability database provides, all the sustainability elements we want to put it in to provide the buyers, the business, the consumers. And when they come into the cambodiatrade.com platform, they see whether these SMEs, these sellers, the vendors, whether they are pursuing any sustainability initiative by themselves. So these two tools are very important in terms of outreaching to the wider market. For cambodiatrade.com, we’ve been going around the region. I think we went to Korea, to China, to other places as well to promote it because traditionally, when you promote something, promote a product or you promote a service, one company can go to trade fairs or exhibitions, but that’s only one company. And if you want more, you have to provide a lot more resources to them because they will not simply go by themselves. SMEs, they can afford to go. But for us, all our SMEs are very, very small, micro SMEs. So we have to provide them with some support, some handholdings. And for us, we thought that we might as well bring CambodiaTrade.com, which has 130 SMEs. It’s just one platform to the trade fair, to the exhibition. And then we can support all of them through this platform alone. So this is some activities that we have already implemented. But going back to your question regarding the ASEAN, how we can make the wider consumer base or wider business in ASEAN. In fact, there was, I think, OnlineASEAN.com that was just recently launched during the ASEAN Economic Ministers’ Meeting earlier this month. This ASEANonline.com, it’s linked to the marketplaces and all the sellers and vendors within ASEAN. So what we need to do next is try to link CambodiaTrade.com to this ASEANonline, just to provide more accessibilities and enabling environments for our SMEs to reach out. So I’ll stop here. Thank you.

Moderator:
Thank you very much. We have only four minutes to go. Do you have any other questions? Please.

Audience:
how do we ensure that we, you know, beyond the diagnosis, as to where the gap, what are the solutions that we can explore? And then obviously, one aspect is, how do we facilitate more assessment and also provide partnerships? And we’re trying to develop an investment that we recommend that they look at for refinance. So I wanted to ask, for your, well, in two minutes, if you don’t have questions, one.

Long Kemvichet:
Yes, one of the things that we are doing in order to improve the investment climate which is important for de-risking investment, actually. In bulk of the thing that I was just mentioning, this example of Bhutan, bulk of the challenges for the investors is that you want to go there and have a big sort of digital infrastructure in place and for which you want to set up a clean energy sort of plan, right? But then the major challenge that you have is the land acquisition, right? And that itself becomes a major risk, right? So in order to address these challenges, the general and specific investment climate improvement that is required in LEC is the number one criteria, right? But number two, when I talk about very specific de-risking, I’m basically talking about the possibility of utilizing public money, such as the resources that we provide to the country or resources that comes from various ODA, mode of financing of development. in the mode of financing, or government themselves putting in resources, or even impact investors or somebody else putting in resources, or philanthropies putting in resources. These are all public money, right? So if you have a large chunk that’s already taken care of, how blended finance works is that you have the first loss layer that can be taken care of by most of the public resources. And then you have mezzanine layer, which can be taken care of by a combination of public and private investment, including now pension fund and insurance company. And the third layer, which is profitable layer, and that’s where the private sectors can come in. So that’s the kind of model we are thinking of. We have not yet done anything in that regard. And this is where UNCDF, an organization based in New York, United Nations Capital Development Fund, they are working by following this kind of model. We are also moving in that direction, thinking of moving in that direction. We can discuss more. Thank you.

Moderator:
Thank you so much. I think we are already on time now. We should finalize. And let’s see what AI said, what the AI’s input for the closing remarks of today’s discussion. I’ll directly read from chat GPT. Our discussions have underscored the undeniable truth. Digitalization is not merely a technological leap. It’s our pathway to a sustainable future. By harnessing the power of digital tools, investment promotion agencies, and trade institutions can become pivotal change makers in the world of supply chains, which is not bad, right? Thank you so much for participating. Thank you so much for being a great host. Thanks to all the participants and speakers. Thank you.