AKP Phnom Penh, April 30, 2025 --

The Ministry of Industry, Science, Technology & Innovation (MISTI) and the Science and Technology Policy Institute (STEPI) of the Republic of Korea have formalised a strategic partnership to support the development of an industry innovation, research and development (R&D) cluster in Cambodia.

The Memorandum of Understanding (MoU), signed on April 29, 2025, lays the groundwork for enhanced policy collaboration over the next five years, according to MISTI.

“By leveraging STEPI’s expertise in science and technology policy and MISTI’s ongoing reforms to enhance Cambodia’s industrial and innovation landscape, we aim to create an enabling environment that supports long-term economic growth and competitiveness,” said H.E. Hem Vanndy, Minister of MISTI.

Under the agreement, the ministry the two parties will cooperate in key areas including joint policy design, development of funding and investment mechanisms, and the exchange of technology, knowledge and expertise.

A Joint Coordination Committee (JCC) will also be established to oversee implementation and ensure strategic alignment throughout the partnership, added the source.

AKP