It cannot be denied that the value of space for our society has grown in recent decades, driving technological advancements and scientific progress. 

Space activities have fostered services such as communication, geolocation, environmental resource monitoring, food security and defense, while fueling innovation in fields like pharmaceuticals and biotechnology, not to mention the important role that space exploration and resource utilization have played to open new frontiers for humanity.

Within the European Union, Italy has been on the forefront of the driving force to boost the role of the EU in the space economy, aiming to strengthen its strategic independence while fostering its industrial capacity in many technological sectors. 

Over the past five years, the country has invested nearly €10 billion in satellites, launchers, and space applications, integrating space technologies with AI, cybersecurity and cloud computing. 

The growing space economy has offered offering a wide array of opportunities in almost every sector, driven by technological advancements, increased private investments, and overall increased public awareness. 

Furthermore, the space economy is directly intertwined with scientific research, demanding its support, but also in exchange providing new challenges, new requirements and new funding.

With this in mind, the Italian Government has recently released the guidelines on space and aerospace. The Italian government, along with the Italian Space Agency (ASI), has clearly shown its commitment to maintaining the country's leadership in space through a national strategy, governance and strategic investments. 

This strategy has been also the result of the ongoing shift towards an overall increasing isolationism, where nations, to safeguard their own interests, have been introducing tariffs and protectionist policies, highlighting a desire for economic independence. 

In this current climate, with the US, China, Russia, India and even Japan having increased their military space capabilities, Italy has decided to prioritize the strengthening of its strategic independence and to contribute to Europe’s technological sovereignty, also through the identification of a structured security strategy to safeguard national assets, classified information and technological competitiveness, focusing on space. 

It is not the case that the North Atlantic Alliance (NATO) has recognized space as its fifth operational domain, and the EU’s 2023 Space Strategy for Security and Defence highlighted the need to protect both public and private space assets. 

But it is not only industrial development and national security that have been identified as areas where space can play an important role for Italy. Space in fact, represents also an important asset as a diplomatic tool. 

In a  2022 report from the Parliamentary Committee for the Security of the Republic (COPASIR) created a general understanding of the importance of space as a critical arena of scientific, economic, and military competition, reinforcing the need for stronger governance and leadership. 

Italy has highlighted space diplomacy as a key component of its foreign policy, enhancing international cooperation and strengthening ties with non-European countries to further promote its strategic interests. 

To achieve the Italian goals, Italy's space policy focuses on three key areas: advancing knowledge and innovation, strengthening the space industry, and establishing a clear regulatory framework for security and sustainability, aiming to solidify leadership in Earth Observation, Space Access, Telecommunications, Navigation and Exploration while ensuring international partnerships in alignment with national interests. 

From the funding perspective, Italy has planned to establish a sovereign wealth fund for dual-use applications, promoting sustainable governance and strategic investments in the space sector. 

It has been observed as the country should focus on emerging fields such as Low Earth Orbit commercialization, space logistics, debris management and cybersecurity, while promoting Italian expertise, especially in civil protection, and fostering the growth of SMEs and start-ups for the space industry, with policies supporting innovation, digitization, and participation in joint projects. 

This path passes through increased financial support for start-ups and venture capital with a stronger regulatory framework to facilitate investment, also with the facilitation and simplification of the mechanisms to access credit.

Another important aspect to support the sustainability of the Italian’s strategy, pass through education and scientific collaboration. Italy’s space policy emphasizes supporting scientific and industrial research while expanding the skills needed for the space economy, outlining the essential role played by universities, research institutions and private companies in advancing knowledge, innovation and economic growth. 

The use of satellite data for socio-economic and environmental development is also a vital aspect to improving public services and expanding scientific understanding, requiring long-term planning, adequate resource allocation and stronger ties between academia and industry, without forgetting the need to continuously raise awareness of space activities and their benefits to generate public and institutional support. 

Making space a priority in public policies has been highlighted as a crucial priority for Italy's economic, social, and technological progress, with a "Space Law" addressing governance, space access, and the economic exploitation of space resources, while supporting start-ups, SMEs, and national security, together with the creation of a group to strengthen Italy's position in the global space market.

So, what can Cambodia take away from Italy’s experience? Definitely, Cambodia doesn’t have the same history and is not equipped in this sector as much as Italy is, but nevertheless, there is much to learn. 

For instance, it can be seen that having a national strategy aligned with national interests in space, should be a priority. Another aspect relevant for Cambodia, is the role that space plays as a driver of economic growth, supporting start-ups, small medium enterprises, and fostering innovation. 

Another important role that space can play is on the international cooperation and space diplomacy playground, something that Cambodia could leverage to strengthen its position in the region. 

Education and research, undoubtfully priorities for Cambodia, are other examples where the country could obtain great benefits from space, in terms of development of academic programs in science, engineering and data analytics, as well as enhanced collaboration and research outcome. 

Public-private partnership is also another area where space can play an important role as connector, to not mention the security aspects of space and its applications. 

Finally, the last consideration, which I cannot avoid mentioning, is the importance in rising awareness among the public on the importance of space and space applications for a nation. 

Cambodia could leverage space technologies for immediate socio-economic benefits with applications ranging from disaster management, agriculture, connectivity, while laying the foundation for a long-term space development. 

The time has come also for Cambodia, to draft guidelines on space and aerospace for itself.

Riccardo Corrado, is an Associate Professor at CamEd Business School, and the Vice Chairman of the Italian Business Chamber Cambodia (ItaCham), national chapter in EuroCham Cambodia.

He is a consultant for the League of International Relations Affairs (LIRA), and for the Telecommunication Regulator of Cambodia. He is also a member of the advisory board of the Federation of Cambodian Startups (CamStartup) and of AI Farm.