logo
Singapore and Cambodia to deepen partnerships in renewable energy, carbon markets: PM Wong

Singapore and Cambodia to deepen partnerships in renewable energy, carbon markets: PM Wong

CNAa day ago
SINGAPORE: Singapore Prime Minister Lawrence Wong discussed "several priority areas of cooperation" - including renewable energy and agri-trade - with his Cambodian counterpart Hun Manet in Phnom Penh on Wednesday (Jul 2).
Mr Wong is in Cambodia for an introductory visit. Following a ceremonial welcome, he met with with Mr Hun Manet, where they "reaffirmed the excellent ties between Singapore and Cambodia", Singapore's Ministry of Foreign Affairs (MFA) said in a statement.
MFA noted that 2025 marks the 60th anniversary of diplomatic relations between the two countries.
"The Leaders agreed on the importance of deepening bilateral cooperation across various sectors, including trade and investment, people-to-people exchanges, human capital development, renewable energy, carbon credits, agri-food cooperation, and the development of the ASEAN power grid," said MFA.
"They also reaffirmed Singapore and Cambodia's commitment to maintaining ASEAN solidarity and unity, and building an ASEAN that is more prosperous, peaceful and interconnected."
Mr Hun Manet also hosted an official lunch in honour of Mr Wong.
In his toast speech, Mr Wong said that the two countries are working together to build a "greener and more interconnected ASEAN" by deepening cooperation in renewable energy. He noted Singapore's project to import low-carbon electricity from Cambodia, "one of the key building blocks for the ASEAN Power Grid".
Mr Wong also said that the two countries are working together on "high-quality carbon markets", including an implementation agreement on carbon credits.
"This will mobilise financing for clean-energy projects, uplift rural communities and improve livelihoods, while enabling both our countries to hit our net-zero goals," he said.
Deepened collaboration in agri-trade will mutually benefit Singapore and Cambodia, as Singapore imports almost all its food, while the latter is a key agricultural exporter, Mr Wong said.
Singapore and Cambodia will also "continue to strengthen ASEAN centrality and unity", Mr Wong said.
"In this uncertain global environment, it is more important than ever for ASEAN to stay cohesive, uphold open channels of dialogue, and work together to resolve our differences peacefully.
"Only then can we preserve our relevance, and continue advancing the region's collective interests."
Mr Wong also called on Senate President Hun Sen at the Senate House, MFA said.
Cambodia-Thailand border, and encouraged both sides to resolve the matter peacefully and amicably, in line with the spirit of ASEAN solidarity," said MFA.
A territorial dispute at the border has seen a tense troop buildup by both sides.
Mr Wong expressed his hope that both sides "de-escalate tensions, engage constructively, and reach an amicable solution that upholds international law and the broader stability of the region", added MFA.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Singapore private property owners who sell homes within 4 years must pay seller's stamp duty
Singapore private property owners who sell homes within 4 years must pay seller's stamp duty

CNA

time2 hours ago

  • CNA

Singapore private property owners who sell homes within 4 years must pay seller's stamp duty

SINGAPORE: Private property owners who sell their homes within four years will incur a seller's stamp duty, the Ministry of National Development (MND) announced on Thursday (Jul 3). The seller's stamp duty (SSD) holding period will increase to four years, up from three years. The SSD rates will also increase by 4 percentage points for each tier of the holding period, the ministry changes will take effect for all residential properties purchased on and after Jul 4, 12am. The revised SSD will not affect HDB owners due to the Minimum Occupation Period for HDB flats, MND said. The SSD is payable by those who sell a residential property within a specified period after purchase. In 2017, this period was reduced from four to three years, and the SSD rates were also reduced by four percentage points for each tier of the holding period, said MND. In recent years, the number of private residential property transactions with short holding periods has increased sharply. In particular, there has been a significant increase in the sub-sale of units that have not been completed, it added. Therefore, the government will revert to the pre-2017 SSD holding period of four years, and raise the SSD rates by four percentage points for each tier of the holding period, it said.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store