Cambodia ready for potential mass return of migrant workers from Thailand: PM
FILE PHOTO: Cambodian workers cross into Thailand at the Doung International Checkpoint in Battambang province's Kamrieng district. - PP/ANN
PHNOM PENH: Cambodian Prime Minister Hun Manet said on Saturday (June 14) that his government is fully prepared to deal with any mass return of Cambodian migrant workers from Thailand as border tensions have mounted.
"In case of a large-scale return, due to any reason, of our Cambodian workers from Thailand, the government has already prepared all necessary measures to manage the situation," he said in a post on his official social media platforms.
He said ministries and concerned institutions, all kinds of armed forces and authorities in all seven Thai border provinces are getting ready to facilitate border crossing, temporary accommodation, and meals for returnees in border areas.
He added that the ministry of national defence, the army,and the Phnom Penh Municipality have prepared transportation to facilitate the return of migrant workers to their home provinces.
Hun Manet added that the Ministry of Labour and Vocational Training is ready to help them find jobs in the country, as about 70,000 vacancies remain in various industries across the country.
He said the ministry of economy and finance is working with relevant ministries and institutions to develop a social and economic aid package to ease the financial burden for them.
He also urged the Association of Banks in Cambodia and the Cambodia Microfinance Association to consider debt relief options for returnees.
Meanwhile, Senate President Samdech Techo Hun Sen, who is also president of the ruling Cambodian People's Party, urged Cambodian migrant workers in Thailand to return home.
Border tensions between Cambodia and Thailand have recently mounted after soldiers of the two countries briefly exchanged gunfire in a disputed border area on May 28, resulting in the death of a Cambodian soldier. - Xinhua
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Sun
an hour ago
- The Sun
Ringgit opens higher against US dollar amid geopolitical tension
KUALA LUMPUR: The ringgit opened higher against the United States (US) dollar and a basket of currencies, including ASEAN currencies today, amid cautious sentiment due to escalating geopolitical risks, said an analyst. At 8 am, the local note rose to 4.2365/2600 versus the greenback from Friday's close of 4.2435/2480. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the market was affected by the Israel-Iran military conflict over the weekend. 'Risks of the conflict expanded in scope which underminded US military bases and assets in the Middle East region. Its going to be a risk-off mode in the currencies market,' he told Bernama. He said the main worry now is how the conflict would translate into higher oil prices, as the Brent crude oil is hovering around US$75.67 per barrel after briefly touched US$78.32 per barrel at the start of the trade. 'Judging from the prevailing oil price condition, it appears the risk-off mode has yet to result in significantly higher crude oil prices,' he added. At the opening, the ringgit traded higher against a basket of major currencies. It rose versus the Japanese yen to 2.9300/9467 from 2.9448/9482 at Friday's close, stengthened against the British pound to 5.7379/7697 from 5.7482/7543 and increased vis-à-vis the euro to 4.8872/9143 from 4.8906/8958 previously. The ringgit also rose higher versus its ASEAN counterparts. It inched up against the Singapore dollar to 3.3020/3206 from 3.3077/3118 at Friday's close, improved versus the Thai baht to 13.0310/1101 from 13.0807/1018, appreciated vis-a-vis the Indonesian rupiah to 259.8/261.4 from 260.2/260.6 and gained against the Philippine peso to 7.54/7.59 from 7.55/7.56.
New Straits Times
an hour ago
- New Straits Times
Ringgit opens higher against US dollar amid geopolitical tension
KUALA LUMPUR: The ringgit opened higher against the United States (US) dollar and a basket of currencies, including ASEAN currencies today, amid cautious sentiment due to escalating geopolitical risks, said an analyst. At 8 am, the local note rose to 4.2365/2600 versus the greenback from Friday's close of 4.2435/2480. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the market was affected by the Israel-Iran military conflict over the weekend. "Risks of the conflict expanded in scope which underminded US military bases and assets in the Middle East region. Its going to be a risk-off mode in the currencies market," he told Bernama. He said the main worry now is how the conflict would translate into higher oil prices, as the Brent crude oil is hovering around US$75.67 per barrel after briefly touched US$78.32 per barrel at the start of the trade. "Judging from the prevailing oil price condition, it appears the risk-off mode has yet to result in significantly higher crude oil prices," he added. At the opening, the ringgit traded higher against a basket of major currencies. It rose versus the Japanese yen to 2.9300/9467 from 2.9448/9482 at Friday's close, stengthened against the British pound to 5.7379/7697 from 5.7482/7543 and increased vis-à-vis the euro to 4.8872/9143 from 4.8906/8958 previously. The ringgit also rose higher versus its ASEAN counterparts. It inched up against the Singapore dollar to 3.3020/3206 from 3.3077/3118 at Friday's close, improved versus the Thai baht to 13.0310/1101 from 13.0807/1018, appreciated vis-a-vis the Indonesian rupiah to 259.8/261.4 from 260.2/260.6 and gained against the Philippine peso to 7.54/7.59 from 7.55/7.56.
New Straits Times
an hour ago
- New Straits Times
Hong Kong bourse seeks to woo Southeast Asia, Middle East firms for second listings
HONG KONG: The Hong Kong stock exchange plans to attract listed companies in Southeast Asia and the Middle East, in particular, for second listings in the financial hub, its chief executive said, as the bourse looks to burnish its global credentials. Hong Kong Exchanges and Clearing Ltd (HKEX) also sees a pickup in the number of companies listed in mainland China markets seeking a listing in the city to raise capital for their global expansions, Bonnie Chan said. "We're now more focused on companies which are actually already listed on another market, but might have outgrown their domestic market," said Chan, a former capital markets lawyer, who took over as HKEX's first female CEO last year. "I am now beginning to realize that our sweet spot may not be private companies." As part of those efforts, the Hong Kong stock exchange will soon open a representative office in Riyadh, Chan said, which will allow "even closer connection" with the Saudi exchange, after recent product launches. Three Singaporean firms listed in Hong Kong over the last 12 months, and a Thai company is expected to do the same soon, Chan said, adding HKEX's talks with potential issuers from outside the Greater China region has "gained quite a bit of momentum." The Hong Kong exchange, which is the most preferred venue for Chinese companies looking to raise offshore capital, has been striving to attract IPO hopefuls from elsewhere as part of its ambition to become a global capital raising platform. While that goal has met with limited success so far, Chan's efforts come against the backdrop of increased flows of capital into non-US markets as US President Donald Trump's policies cloud investors' appetite for dollar-denominated assets. A surge in listings and follow-on share offerings by Chinese companies, such as electric vehicle battery giant CATL's raising of US$5.3 billion last month, however, has boosted HKEX's outlook after it reported record high profit in the first quarter. The Hong Kong exchange has emerged as the top destination globally for listings by volume, with a total of 31 companies raising US$10 billion this year, according to LSEG data, with another US$26 billion raised via follow-on share issuances. INVESTOR INTEREST The momentum is set to continue mainly due to a strong list of mainland Chinese firms tapping the Hong Kong market to raise capital for global expansion plans, as Beijing steps up efforts to bolster its private enterprises and revive its economy. More than 20 mainland China-listed companies have applied to raise capital in Hong Kong by issuing shares, while another 20 have announced similar plans, Chan said, hoping to ride bullish investor sentiment. The Hang Seng index is up nearly 19 per cent so far this year. The number of companies in HKEX's IPO pipeline have doubled to more than 160 as of Friday from around 80 in end-December 2024, filing records show. "Amidst all the development in the world, we are now seeing investors again turning their attention to this part of the world when they assess investment opportunities, fundraising venues," Chan said. U.S. investors' demand for shares in recent Hong Kong listings has increased significantly, she said. "That's a good indication that the interest has returned from investors across different markets." Reuters reported last month, citing sources, that online fast fashion retailer Shein was working towards a listing in Hong Kong after its proposed IPO in London failed to secure the green light from Chinese regulators.
