On Monday, 28 November 2022, Cambodia launched its first ever Responsible Business Hub (RBH) with the objective to serve as a base for companies to get assistance in adhering to responsible practices.
The official launch ceremony was hosted by the European Chamber of Commerce Cambodia (EuroCham).
RBH Cambodia is an initiative founded by Eurocham in collaboration with the Deutsche Gesellschaft für International Zusammenarbeit (GIZ FABRIC), and supported by the Textile Apparel Footwear and Travel Goods Association in Cambodia (TAFTAC) and the Garment Manufacturers Association in Cambodia (GMAC).
The key objective of the RBH is to strengthen Cambodia’s export sectors’ ability to adapt to and abide by the new international requirements for social and environmental due diligence. EuroCham shared in a press release: “The RBH is a help desk that provides a wide range of services in the area of ethical business conduct to assist investors and local companies in all industries in improving their sustainability performance. The RBH in Cambodia is a component of a network of RBHs worldwide.”
Global supply chains are growing more significant, and international trade agreements and legislation, including sustainability and social and environmental due diligence, are evolving. These kinds of rules are already bringing about a new dynamic at the corporate offices of multinational brands and retailers, who are as a result also boosting their interaction with suppliers in the Asian production nations. Future competitiveness will heavily depend on how well-prepared the export industries of Cambodia are for these needs.
Dr. SOK Siphana addressed the importance of community development towards the competitive advantage of businesses. “In the modern world, it is necessary to preserve human rights and uphold principles like green energy and the environment. Business competition cannot just happen without any conscious effort to follow these values”, Dr. Sok said. He also emphasized that corporate responsibility is a role model and driver of future economic growth in Cambodia.