The ASEAN+3 Macroeconomic Research Office (AMRO) and the Ministry of Economy and Finance of Cambodia (CMEF) will launch in early 2026 a technical assistance (TA) project aimed at boosting the country’s domestic revenue mobilization, marking ASEAN+3’s first pilot under the Structural Policy Improvement and Review Instrument with Technical Assistance (SPIRIT).
The pilot, backed by initial financing support from AMRO’s China Technical Assistance Trust Fund, will support CMEF in enhancing its capacity to assess and improve revenue streams, including tax incentives, carbon taxes and non-tax revenues.
Unlike standard TA projects, typically focusing on a particular issue and lasting between six and 12 months, this program will provide up to three years of sustained support and expert input on assessments and recommendations, with both sides allocating internal resources and drawing on external expertise as needed.
A Letter of Intent formalizing the project was signed by AMRO Deputy Director Joong Beom Shin and CMEF Director General of General Department of Policy Ung Luyna at the sidelines of the ASEAN+3 Finance and Central Bank Deputies’ Meeting in Hong Kong, China, on November 26, 2025. China’s Vice Finance Minister Liao Min, Cambodia Under Secretary of State Tep Phiyorin, AMRO’s Senior Management team, and officials from the Ministry of Finance of China and the CMEF attended the signing.
SPIRIT, endorsed by ASEAN+3 finance ministers and central bank governors in May 2025, is a voluntary, non-binding instrument offering pre-defined thematic TA projects for structural reforms across member economies.
The pilot will integrate AMRO’s surveillance and TA functions to help identify and address long-term structural challenges in member economies and the region, and reinforce the regional financial safety net.
TA, a core function of AMRO, is designed to strengthen the macroeconomic surveillance and financial stability across ASEAN+3 member economies. Through tailored support that aligns with each economy’s development stage and policy priorities, AMRO’s TA promotes knowledge-sharing and collaboration with members and peer organizations, advancing regional expertise.
