Bay of Lights’ New Partnership with Annual Investment Meeting Congress Paves Way for Cambodian-Middle East Economic Ties

SIHANOUKVILLE, CAMBODIA – Media OutReach Newswire – 16 March 2024 – Bay of Lights development, Cambodia’s burgeoning financial and tourism beacon, is proud to announce its groundbreaking strategic partnership with the United Arab Emirates’ premier investment platform, the Annual Investment Meeting (AIM) Congress. This partnership marks a pivotal step in bolstering the growing ties between Asia and the Middle East and is set to ignite a dynamic phase in Cambodia’s economic development.
A New Chapter Begins: Signing the Strategic Partnership at Bay of Lights Business Center

After almost a year of negotiations and insightful exchanges, including several visits by AIM’s Director General, this collaboration was formalized amid great anticipation. The milestone agreement was signed at Bay of Lights’ new Business Center in Sihanoukville, presided by Deputy Governor of Preah Sihanouk Province, Em Pheap.

His Excellency Dawood Al Shezawi, President of AIM Congress, as the ceremony’s signatory, highlighted the partnership’s significance. This agreement allows AIM Congress Asia to be hosted at Bay of Lights, Sihanoukville, offering a platform for global investors and government officials to discover Cambodia’s extensive opportunities.

AIM Congress is a leading Middle Eastern investment platform focusing on FDI opportunities, future cities, and SMEs. They have hosted over 10,000 delegates across 175 countries, partnering more than 500 exhibitors to drive economic growth and international ties.

The synergy between Bay of Lights and AIM Congress is poised to channel Middle Eastern investments into the heart of Asia, stimulating unparalleled growth and prosperity. Together, both parties plan to build Sihanoukville’s first international Convention and Exhibition Center within Bay of Lights, an 11-hectare state-of-the-art venue for global conventions and premier events.

This landmark agreement is far from the climax of this collaboration; May this year is set to witness another milestone. In Abu Dhabi, during the AIM Congress 2024, the partners are expected to finalize the joint development agreement, further solidifying their commitment to shaping a flourishing future through innovative development strategies.

About Bay of Lights

Bay of Lights is transforming Sihanoukville, Cambodia’s skyline. With a USD 16 billion investment, this 934-hectare beachfront project includes nine districts embodying six pillars: Financial Services, Tourism, Education, Entertainment & Lifestyle, Health & Wellness, and Art & Culture. It’s designed to create a world-class hub, enhancing sector connectivity and stimulating economic growth.

Bay of Lights’ New Partnership with Annual Investment Meeting Congress Paves Way for Cambodian-Middle East Economic Ties

SIHANOUKVILLE, CAMBODIA – Media OutReach Newswire – 16 March 2024 – Bay of Lights development, Cambodia’s burgeoning financial and tourism beacon, is proud to announce its groundbreaking strategic partnership with the United Arab Emirates’ premier investment platform, the Annual Investment Meeting (AIM) Congress. This partnership marks a pivotal step in bolstering the growing ties between Asia and the Middle East and is set to ignite a dynamic phase in Cambodia’s economic development.
A New Chapter Begins: Signing the Strategic Partnership at Bay of Lights Business Center

After almost a year of negotiations and insightful exchanges, including several visits by AIM’s Director General, this collaboration was formalized amid great anticipation. The milestone agreement was signed at Bay of Lights’ new Business Center in Sihanoukville, presided by Deputy Governor of Preah Sihanouk Province, Em Pheap.

His Excellency Dawood Al Shezawi, President of AIM Congress, as the ceremony’s signatory, highlighted the partnership’s significance. This agreement allows AIM Congress Asia to be hosted at Bay of Lights, Sihanoukville, offering a platform for global investors and government officials to discover Cambodia’s extensive opportunities.

AIM Congress is a leading Middle Eastern investment platform focusing on FDI opportunities, future cities, and SMEs. They have hosted over 10,000 delegates across 175 countries, partnering more than 500 exhibitors to drive economic growth and international ties.

The synergy between Bay of Lights and AIM Congress is poised to channel Middle Eastern investments into the heart of Asia, stimulating unparalleled growth and prosperity. Together, both parties plan to build Sihanoukville’s first international Convention and Exhibition Center within Bay of Lights, an 11-hectare state-of-the-art venue for global conventions and premier events.

This landmark agreement is far from the climax of this collaboration; May this year is set to witness another milestone. In Abu Dhabi, during the AIM Congress 2024, the partners are expected to finalize the joint development agreement, further solidifying their commitment to shaping a flourishing future through innovative development strategies.

About Bay of Lights

Bay of Lights is transforming Sihanoukville, Cambodia’s skyline. With a USD 16 billion investment, this 934-hectare beachfront project includes nine districts embodying six pillars: Financial Services, Tourism, Education, Entertainment & Lifestyle, Health & Wellness, and Art & Culture. It’s designed to create a world-class hub, enhancing sector connectivity and stimulating economic growth.

Rocket fired from northern Gaza toward Sderot in Israel

ANKARA: The Israeli army said Friday that a rocket fired from the northern Gaza Strip toward Sderot, in southern Israel, was intercepted by the country's air defense system. The army said fighter jets located the launch site in northern Gaza and destroyed it, according to a statement cited by the Times of Israel news website. The Palestinian Islamic Jihad group claimed responsibility for firing what it said was a barrage of rockets toward the Sderot area. The rocket launch from northern Gaza is the third this month, despite the Israeli claim to have destroyed Palestinian groups' military capabilities in northern Gaza. Israel has waged a retaliatory offensive on Gaza since a cross-border attack by the Palestinian resistance group, Hamas, on Oct. 7. The offensive has killed more than 31,000 victims and injured over 73,000 others amid mass destruction and shortages of necessities. Israel has also imposed a crippling blockade on the Palestinian enclave, leaving its population, particularly residents of north ern Gaza, on the verge of starvation. About 85% of Gazans have been displaced by the Israeli onslaught amid acute shortages of food, clean water and medicine, while 60% of the enclave's infrastructure has been damaged or destroyed, according to the UN. Israel is accused of genocide at the International Court of Justice. An interim ruling in January ordered Tel Aviv to stop genocidal acts and take measures to guarantee that humanitarian assistance is provided to civilians in Gaza. Source: Anadolu Agency

Energy Minister forms project monitoring body for Vassiliko LNG terminal

A project monitoring body that will monitor and supervise every issue related to the construction of the liquefied natural gas terminal in Vassiliko will be formed by Energy Minister George Papanastasiou, within the Ministry, following resumption of construction works at the terminal. Energy Minister George Papanastasiou and a delegation from the Chinese CPP consortium held a meeting yesterday during which an agreement was reached and the contractor resumed works for the construction of the jetty and other facilities. The Minister explained the monitoring will help strengthen trust between the parties and ensure that there is proper and appropriate monitoring of the project. This group will have the expertise to supervise and monitor the project and at the same time will work towards every direction within powers granted by the Minister, Papanastasiou told CNA. Regarding a new project delivery schedule, Papanastasiou said that the company, CPP-METRON CONSORTIUM LTD, will notify on a new timetable within t he next couple of weeks. The Minister of Energy together with President of the Republic visited today the construction site in Vassiliko and were briefed by the contractor on the progress of the project. Regarding the project monitoring body to be set up, George Papanastasiou explained that it will comprise 1-2 engineers in charge of monitoring and supervising the project and that they will be in constant contact with the Ministry, the Natural Gas Public Company (DEFA), the Natural Gas Infrastructure Company (ETYFA) and the contractor. They will also manage any disputes that arise. "We will not let differences grow and create relationship problems," Papanastasiou stressed. He also noted that they will also be the ones who will monitor all the aspects of the project in order to limit bureaucracy and ensure that further delay is avoided. "This group will be the eyes of the Ministry in the project and in fact in the field, on the ground and not in the offices," he noted clarifying at the same time that it wi ll not interfere with the contractual obligations of the two contracting parties. Asked whether there is now a new timetable, the Minister of Energy said that as the contractor promised they will come up with a new project delivery schedule next week or the week after. Replying to a comment that the resumption of works creates expectations, he noted that the issue of providing affordable electricity is very high on the Government's agenda, indicating that this project needs good management, that concerns both sides, the Chinese consortium and the side of DEFA and ETYFA. Source: Cyprus News Agency

‘Situation in Gaza catastrophic, deteriorates by minute,’ warns UN agency

ISTANBUL: The situation in the Gaza Strip is 'catastrophic and deteriorates by the minute,' the UN agency for Palestinian refugees (UNRWA) warned on Saturday. ?'We need safe, sustained and unimpeded access to deliver aid across the Gaza Strip,' UNRWA said on X. ?'The needs are overwhelming in Gaza,' it added. ?Earlier, the UN agency said that one-third of children under the age of two in northern Gaza is now acutely malnourished. ?'Children's malnutrition is spreading fast and reaching unprecedented levels in Gaza,' UNRWA said on X. ?Israel has waged a deadly military offensive on the Gaza Strip since an Oct. 7 cross-border attack led by Hamas in which 1,163 people were killed. ?More than 31,500 Palestinians, mostly women and children, have since been killed in Gaza, and 73,546 others injured amid mass destruction and shortages of necessities. ?The Israeli war has pushed 85% of Gaza's population into internal displacement amid a crippling blockade of most food, clean water and medicine, while 60% of th e enclave's infrastructure has been damaged or destroyed, according to the UN. ?Israel stands accused of genocide at the International Court of Justice. An interim ruling in January ordered Tel Aviv to ensure its forces do not commit acts of genocide, and guarantee that humanitarian assistance is provided to civilians in Gaza. Source: Anadolu Agency

The goal was to provide as much humanitarian aid as possible to Gaza, PoR says

Cyprus President Nikos Christodoulides on Saturday expressed satisfaction for the international recognition of the Republic of Cyprus' initiative, 'Amalthea', noting that the goal was to provide as much humanitarian aid as possible to Gaza. Asked by journalists while visiting the construction site of the LNG terminal in Vasilikos about his initiative for the maritime humanitarian corridor to Gaza, President Christodoulides noted that it was Cyprus' initiative, 'and I am glad that it is receiving international recognition'. He said that the first ship that delivered humanitarian aid to Gaza was on its way back to Cyprus, while preparations were under way for the departure of the second ship. He noted the international interest, and the telephone calls that he and the Minister of Foreign Affairs receive from many countries, to strengthen the effort even more. President Christodoulides said that the goal was to provide as much humanitarian aid as possible, 'and within this framework we are working with seve ral countries, in addition to those that supported the (joint) declaration'. The President also referred to the decision for setting up a special fund, by countries that want to contribute financially for the purchase of humanitarian aid. Source: Cyprus News Agency

2nd humanitarian aid ship from Greek Cypriot administration preparing to depart for Gaza

ISTANBUL: Another ship, which will carry humanitarian aid from the Greek Cypriot administration to Gaza, is planned to set sail after the loading process, a charity said on Saturday. Hundreds of tons of food supplies, including pallets of dates, 'which hold spiritual significance during Ramadan' were being loaded on a ship at Larnaca Port, US-based charity World Central Kitchen said on its X account. It did not share further information. According to Alithia newspaper's website, the amount of humanitarian aid to be sent to Gaza via the second ship has been determined at 500 tons. On Friday, the first humanitarian vessel, carrying 200 tons of food donated by World Central Kitchen, arrived on Gaza's shores. Source: Anadolu Agency

President: We are interested in the resumption of the Cyprus talks

We are interested in the substance, which is the resumption of talks on Cyprus, said on Saturday the President of the Republic, Nikos Christodoulides, noting that the UN Secretary-General's Personal Envoy, Maria Angela Holguin Cuellar, is working in this direction. Speaking to reporters, at the construction site of the Liquefied Natural Gas (LNG) Receiving and Regasification Terminal in the Vasilikos area, the President was invited to comment on his meeting with Holguin earlier Saturday, which he described as "very good", during which Holguin reviewed her week on the island. The UN Envoy is expected to return to the island in April. "We continue to work together, with a single goal, the resumption of the talks, step by step", he said. "I hope, at least from our point of view this political will is declared, to achieve this goal," he added. He further said "we are interested in the substance and Holguin is working towards the substance, which is the resumption of talks," President Christodoulides said. He added that Holguin will return again in April, adding that she would first visit some European capitals. Cyprus has been divided since 1974, when Turkey invaded and occupied its northern third. Repeated rounds of UN-led peace talks have so far failed to yield results. The latest round of negotiations, in July 2017 at the Swiss resort of Crans-Montana ended inconclusively. In January, UN Secretary General Antonio Guterres appointed Holguín as his personal envoy for Cyprus, to assume a Good Offices role on his behalf and search for common ground on the way forward in the Cyprus issue. Source: Cyprus News Agency

Ukrainians in Istanbul mark 2nd anniversary of airstrike on Mariupol theater

ISTANBUL: Ukrainian citizens in Istanbul marked the second anniversary of the bombing of a theater building used as a shelter in Ukraine's Mariupol city. Hundreds of people lost their lives in the airstrike carried out on March 16, 2022, amid the Russia-Ukraine war. Gathering in the Beyoglu district, Ukrainian citizens displayed banners with photos of children and soldiers killed in the war. They also exhibited a photo showing the theater building in Mariupol before the bombing. Speaking on behalf of the Ukrainian Cultural Association, member Aliya Usenova accused Russia of committing 'war crimes' in Ukraine. Usenova emphasized the need for Russia to end its "occupation" and attacks, saying: 'They should not forget that we have always been a free people. We will remain a free people. Believe me, we are paying a very heavy price for this. Russia, coming to our lands, is a terrorist." According to international organizations, at least 300 people were killed in the airstrike on the theater, where a large n umber of civilians were hiding. Source: Anadolu Agency