Cambodia 20251215
Mekong Memo Cambodia Weekly: Business, politics, finance, trade & legal news.
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Headlines:
Huione Pay Shut Down After Bank Run
Border Erupts Again After Ceasefire Collapse
Politics, Disinformation Complicate Conflict
Science Council Targets Economic Transition
Environment Ministry Wants More Green
Prison Overcrowding Worsens After Transfer
Demining Operations Need $150 Million by 2030
Basic Education Improvement Project Launched
Panels to Raise Professorship Standards
Huione Pay Shut Down After Bank Run
The National Bank of Cambodia ordered Huione Group to shut down its payment services arm, Huione Pay, following a bank run on customer deposits that led to frozen withdrawals. The U.S. Treasury accused Huione Group of facilitating money laundering for criminal entities, including Chinese gangs and North Korean hackers. The ICIJ’s Coin Laundry investigation shows that Huione Group transferred hundreds of millions of dollars through cryptocurrency exchanges Binance and OKX. Cambodian regulators liquidated Huione Pay’s assets, saying that its operations were a risk to the banking system and the public.
Read more: ICIJ
Border Erupts Again After Ceasefire Collapse
Thailand launched airstrikes against Cambodia on December 8, breaking a fragile U.S.-brokered ceasefire signed in October. The fighting, which has killed more than 27 people and displaced more than 700,000 civilians, is ostensibly the result of longstanding territorial disputes along the 817-kilometer border. Thai Prime Minister Anutin Charnvirakul accused Cambodia of laying new landmines and opening attacks, and of course, Cambodia says that Thai forces opened fire first on civilian areas. A second ceasefire brokered by Trump on December 12 is still fragile at best; Thailand’s defense minister says that no ceasefire order will be issued until Cambodia “ends hostility.”
Read more: Straits Times (Airstrikes), Modern Diplomacy (Ceasefire Failure), Al Jazeera (Analysis), Telegraph (Second Ceasefire), Khmer Times (Thai Position), Khmer Times (Artillery Range), Khmer Times (Casualty Report), Khmer Times (School Closures), Khmer Times (Security Measures), Khmer Times (Malaysia Initiative), Straits Times (UN Appeal), India West (Temple Damage), Eurasia Review (ASEAN Challenge), Kiripost (SEA Games)
Politics, Disinformation Complicate Conflict
Political pressures are driving leaders on both sides of the Thai-Cambodia conflict to take hardline stances. Thai PM Anutin Charnvirakul dissolved parliament on December 11 as he was facing the possibility of an uncomfortable no-confidence vote, and can now use nationalist sentiment around the border dispute to rally support ahead of early 2026 elections. Cambodian PM Hun Manet is suffering economic challenges, including slowing growth, the weight of U.S. tariffs, and declining Chinese investment. Both governments are able to use the conflict as a distraction from domestic troubles, making diplomatic resolution more of a challenge. On the information warfare from, information Minister Neth Pheaktra warned Cambodians about false reports circulating through Thai media and Facebook accounts targeting Cambodians to incite retaliatory action. Policy analyst Seun Sam says the disinformation is a deliberate strategy. Huy Vannak, President of the Union of Journalist Federations, weighed in on the need for verification in a challenging information environment. Thai media coverage has become increasingly jingoistic, with some outlets seeming to push for military action.
Read more: Business Standard (Political Analysis), Khmer Times (Hun Sen Statement), Khmer Times (Thai Opposition), Khmer Times (Disinformation Warning), Khaosod English (Media Analysis)
Science Council Targets Economic Transition
Cambodia started a three-year project on December 10 to set up its first national science granting council. The partnership involves the Cambodia Development Resource Institute, the Ministry of Industry, Science, Technology & Innovation, and Canada’s International Development Research Centre. The project is being described as an important pillar of support in Cambodia’s transition to a knowledge-driven economy. The government plans to increase research funding to 1% of GDP by 2030, supported by a national R&D Trust Fund. Undersecretary of State Hul Seingheng says there’s an urgent need for immediate investment in R&D.
Read more: Khmer Times (Initiative Details), Khmer Times (Partnership)
Environment Ministry Wants More Green
Environment Minister Eang Sophalleth opened the ministry’s annual conference on December 11, calling for unity, law enforcement, and sustainable national development. The conference reviewed 2025 achievements and set 2026 priorities. The Environmental Sector Strategic Framework 2023-2028 focuses on cleanliness, greening, and sustainability by way of six specialized departments. Cambodia wants a 55% cut in greenhouse gas emissions by 2035 and carbon neutrality by 2050, dreams that will require an estimated $32 billion in international climate investment.
Read more: Khmer Times (Conference), Khmer Times (Enforcement)
Prison Overcrowding Worsens After Transfer
Human rights group LICADHO says that prison overcrowding is worse after the December 15 transfer of 1,066 inmates from Oddar Meanchey Provincial Prison to Siem Reap Provincial Prison. The transfer came after Thai military strikes near the facility. LICADHO operations director Am Sam Ath said the transfer could push receiving prisons beyond capacity, even as chronic overcrowding is already a problem. General Department of Prisons spokesman Kheang Sonadin said the transfer was necessary for inmate safety and claimed food supplies and sanitation at Siem Reap were adequate.
Read more: Khmer Times
Demining Operations Need $150 Million by 2030
Cambodia needs $150 million for demining operations if it still hopes to become mine-free by 2030, according to Senior Minister Ly Thuch. The money will expedite the clearance of more than 500 square kilometers of landmine-contaminated areas, particularly in challenging terrain. The Cambodian Mine Action and Victim Assistance Authority has been surveying mine-affected regions along the Thai border since November 2024. The country has deployed about 5,000 trained deminers and cleared more than 3,300 square kilometers since 1992, reducing annual casualties from more than 4,000 in the 1990s to less than 100 today.
Read more: Khmer Times
Basic Education Improvement Project Launched
Cambodia launched a Basic Education Improvement Project to improve foundational learning and the quality and equity of basic education. The project includes the building of 60 childcare centers and 20 preschools, training teachers in play-based learning, and getting parents more involved in early childhood education. The project also includes digitizing the Human Resource Management Information System and improving school leadership. In the 2024-2025 academic year, 370,000 students were able to benefit from the School Meal Program, and 330,000 disadvantaged students were given scholarships.
Read more: Khmer Times
Panels to Raise Professorship Standards
The government is setting up expert committees to evaluate professorship candidates to make sure that evyone is keeping up with international standards. The decision came during a National Council meeting led by Minister Vongsey Vissoth and Education Minister Hang Chuon Naron. The Ministry of Education has looked at existing international models, particularly the French system, to try to figure out how to improve professor qualifications and research quality in Cambodian higher education.
Read more: Khmer Times
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