On December 5, 2024, H.E. HEM Vanndy, Minister of Industry, Science, Technology & Innovation, received a delegation from the Australian Embassy led by H.E. Derek Yip, Australian Ambassador to Cambodia. The meeting discussed enhancing collaboration across various sectors, including water supply, industry, SMEs, informal economy, productivity and national quality infrastructure.

Minister Vanndy commended Australia’s support for Cambodia, asking Australia to provide technical assistance to help Cambodian products comply with standards. “Standards are essential for Cambodian products to enter Australian and international markets,” he stated. 

Ambassador Yip reaffirmed Australia’s commitment to Cambodia’s development, particularly ahead of the country’s planned graduation from Least Developed Country (LDC) status in 2029. He emphasized Australia’s focus on human capital development, clean energy transition, market access, and infrastructure and economic development.

Minister Vanndy urged Australia to increase investment in Cambodia, not just from Australia, but also from Australian companies already operating in the region. He emphasized the significance of expanding business networks to boost local production, especially in production of raw material and semi-finished products to meet increasing local content requirements. 

“We value Australia's support in our development and we ask Australia to encourage more regional businesses to establish themselves here, including in specialized industrial zones,” he added.