Locations
August 17, 2018 Phnom Penh–WorldBridge International Co., Ltd. and the UN Development Programme (UNDP) have signed a multipart Memorandum of Understanding (MOU) and exchanged formal Letters of Collaboration with the United Nations Industrial Development Organization (UNIDO).
These events signal the start of an interconnected Public-Private Partnership aimed at building resilient infrastructure, promoting inclusive and sustainable industrialization, and fostering innovation in Cambodia. Areas of cooperation and activities of all three parties will be focused around existing WorldBridge Group Projects in Affordable Housing, Green Logistics & Fleet Management and SME Cluster Development. By linking UN Sustainable Development Goals (SDGs) with innovative Private Sector projects, growth will not only be socially beneficial, but also economically attractive.
“… the economic development and future growth in Cambodia must be done in a way which is sustainable and has positive social impacts. By joining together with UNDP and UNIDO, we feel that we will not only be able to achieve our initial objectives but be able to go beyond them in order to bring more meaningful and sustainable results in our Projects…” said Oknha Sear Rithy, Chairman of the WorldBridge Group.
Under the MOU with UNDP, a detailed study on the more efficient use of clean or renewable energy for manufacturing and low income households, access to affordable housing finance, and public transport links will be undertaken, and together with the SME Cluster project, will further study opportunities for localized circular economies, waste management for reuse in industry as well as other positive social impacts such as micro enterprise skills development.
Oknha Sear Rithy commented, “This MOU signing with UNDP is another milestone of our affordable housing project toward that vision. We are partnering with UNDP because we believe that UNDP has the networks and strong expertise to contribute to bring about more social, economic and ecological impacts; thus making our project even better for the people of Cambodia.” He adds, “To ensure good quality of life and sustainable development for the whole community and its neighbourhoods, our project already provides such amenities as landscape parks, green areas, market, shop houses, kindergarten, and health clinics. However, we are not yet satisfied with this; we will work with UNDP to give more benefits for the residents of our current and future affordable housing projects.”
The third Project included within the scope of the MOU is the WorldBridge Green Logistics & Fleet Management Project. WorldBridge is already well recognized in Cambodia for its Logistics businesses and leadership in the Transport & Logistics sector and understands that with leadership comes the need for recognizing market demands and the responsibility to respond to those demands through innovation.
The MOU promotes a “Smart Growth” approach and integration of the UN SDG aligned programs and knowledge that will be used to study opportunities and the means to promote sustainable and cleaner fuels, driver training, road safety awareness and more efficient planning of logistics services to improve efficiencies.
Nick Beresford, Country Director for the UNDP in Cambodia noted, “the MOU with WorldBridge serves as an example of the public-private partnership that is vital to UNDPs goal to promote sustainable business practices and investment in areas with high social and economic impact. With an impact across multiple SDGs, this continued partnership and those alike, are important steps in achieving the Sustainable Development Goals by 2030”.
The exchange of formal Letters of Collaboration between UNIDO and WorldBridge will bring a strong focus to the urgent need to develop the SME agro-processing sector and establishment of new, diversified manufacturing supply chains in Cambodia.
The SME Cluster Project envisioned by WorldBridge will seek to reduce the barriers faced by most SMEs in Cambodia today while at the same time providing new business opportunities for foreign manufacturing investment, local start-up companies and enabling purposeful technology transfer into Cambodia. Collaboration as a Pilot Project for the Program for Country Partnership (PCP) in Cambodia, will bring direct access to the expertise, experience and initiatives that UNIDO and UNDP have developed globally.
Sok Narin, Country Representative from UNIDO noted “the letter of collaboration comes at the right time and aligns with our PCP. It marks not only the first collaboration, in the framework of PCP, with local private sector, but it provides a framework where we could work more closely with the private sector to promote SME cluster development and ultimately inclusive and sustainable industrial development.”
WorldBridge, UNDP and UNIDO will commence their activities in August with the detailed planning of an “SME Cluster Development” Workshop scheduled for mid-September in Phnom Penh in addition to other planning other initiatives.
To book media interviews, please contact:
Mr. Chheang Vannarom, Assistant to Vice Chairman, WorldBridge International Co., Ltd.
vannarom@worldbrigde.com.kh
Mr. Im Samruol, Communications Analyst, UNDP Cambodia
communications.kh@undp.org
UNIDO Office in Cambodia
