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Phnom Penh, 14 November 2023 – The ASEAN-Cambodia Business Summit, held under the theme of “Connectivity is Growth in the Mekong Region”, successfully concluded on 29 September 2023.
The two-day summit gathered more than 200 participants, including high-level guests from the Cambodian government, European Union (EU) officials, business representatives from Europe and the Mekong region, and officials from the ASEAN Secretariat to explore ideas of integration, connectivity, and economic cooperation.
Various topics were discussed, including an analysis of the economic challenges and opportunities in Cambodia, with the aim of enabling a favorable business environment for growth and fostering economic integration within the region and beyond.
Opening the two-day event, H.E.Dr. Aun Pornmoniroth, Deputy Prime Minister and Minister of Economy and Finance, highlighted the favorable initiatives undertaken by the Cambodian government to attract European companies and promote their business expansion within the country. H.E. added that European companies are encouraged to increase their investments in Cambodia and capitalize on the numerous economic corridors within the country as opportunities to expand their businesses. Read more on Khmer Times' article: https://bit.ly/3PXFf8o
Mr. Bryan Fornari, the Head of Cooperation of the EU Delegation to Cambodia, discussed trade relations between the EU and Cambodia, and expressed a commitment to collaborate with the Kingdom to create a favorable and supportive environment for conducting business.
Later in the afternoon, he provided an overview of the EU Global Gateway Strategy, a new European strategy to boost smart, clean and secure links in the digital, energy and transport sectors and to strengthen health, education and research systems across the world. Learn more about EU Global Gateway: https://bit.ly/3Mq9AdN
Neak Oknha Kith Meng, President of Cambodia Chamber of Commerce and Co-chair of ASEAN Business Advisory Council, urged the Mekong business community to leverage Cambodia's business potential and trade agreements. Neak Oknha pointed out the immense growth potential of the Mekong region, which houses a population of over 200 million individuals, with a shared common culture, strong friendship, and cooperative advantages in terms of resources and industrial structure. Read more on the Phnom Penh Post's article: https://bit.ly/3PWQAWh
The event also launched the White Book 2024, which was published by EuroCham Cambodia with financial support from the EU and the German Federal Ministry of Economic Cooperation and Development (BMZ).
This year's White Book contains 78 policy recommendations, including new, updated, and retained recommendations aimed at improving the business environment and attracting quality investments to Cambodia.
The book covers several topics, including customs, transport, logistics, trade policy, automotive, agribusiness, digital and technology, green business, garments, healthcare, fast-moving consumer goods, real estate and construction, tourism and hospitality, investment and tax, and human resources. Click the link to download the book: https://bit.ly/45TrFaP
The 2023 Business Confidence Survey was also released. The survey offers an inclusive and reliable overview of Cambodia's business landscape to both current and potential investors. It also provides valuable insights for decision-makers regarding the private sector's overall perception of the business environment. Click the link to download the survey: https://bit.ly/46UzVsz
The morning session of the first day concluded with a presentation by H.E. Nut-Un Voanra, Deputy Secretary General of the Cambodian Investment Board, on Cambodia's long-term investment support, goals, and strategy. This was followed by an overview of the EU's trade and investment policy concerning Cambodia, which was presented by Mr. Petros Sourmelis, Head of Trade & Economic Section at the EU Delegation in Thailand.
The afternoon session was opened by H.E. Cham Nimul, Minister of Commerce. H.E. emphasized the significance of the Mekong region in trade, investment, and efforts to enhance connectivity for sustainable economic growth. H.E. encouraged businessmen, investors, and members of the EU-ASEAN Business Council to consider investing in Cambodia’s high-potential sectors, including agro-processing, tourism, and the import of textiles, footwear, and manufacturing products. Read more on Khmer Times' article: https://bit.ly/46rWVhS
The rest of the agenda featured presentations, panel discussions, experience-sharing workshops and networking. During the two days, attendees had the opportunity to gain insights from influential leaders, policy makers, accomplished entrepreneurs and business owners.
Topics covered included Cambodia's recently established government; potential business prospects available within the country, the region and Europe; and favorable initiatives for business, trade and investment. These discussions laid the groundwork for continued economic expansion in both the country and the wider region.
Co-funded by the EU and BMZ, ARISE Plus Cambodia project supports this initiative as part of its key support to the Government of the Kingdom of Cambodia in strengthening institutional capacities and improving regulatory practices with an aim of achieving a more transparent, predictable and competitive trade environment.
For more information, please contact,
Ms. Sovannary Ky, Communication Specialist
Email: sovannary.ky@giz.de
