Cambodia Investment Review
More than 500 of Cambodia’s leading business people have gathered to participate in the flagship Inter-Chamber networking event highlighting the positive environment for doing business in Cambodia as well as welcoming new investors to multinational business chambers.
The special event also provided a platform for Cambodia’s business community – both local and international – to network and mingle, in hopes that relationships can be both made and strengthened for the betterment of business in Cambodia.
To read our Explainer on Chambers of Commerce in Cambodia click here.
Hosted at the Oakwood Premier in Phnom Penh the event was attended by members of several international chambers and associations in Cambodia, and from many different industries, including tourism, banking and finance, education, real estate and telecommunication.
Several leading business associations that co-organized the event included:
- American Chamber of Commerce (AmCham)
- British Chamber of Commerce (BritCham)
- Cambodia Tourism Federation (CTF)
- European Chamber of Commerce (EuroCham)
- International Business Chamber (IBC)
- Indian Chamber of Commerce (InCham)
- Japanese Business Association of Cambodia (JBAC)
A massive success with the highest attendance ever
Speaking to Cambodia Investment Review Mr. Anthony Galliano, President of AmCham said the Inter-Chamber networking event was a massive success and had the highest attendance ever.
“It was wonderful to experience cooperation and coordination between the contributing chambers to pull off this huge event, it was a tremendous amount of work and the Executive Directors deserve a lot of credit. It demonstrates the growth in chamber interests in the business community and an increase in membership in most,” he said.
Previous year’s themes have included: Education, Cambodian Arts & Culture, Cambodian Films, and Cambodian Sports, among others. This year, the theme was music with a special performance from Princess Jenna.
“The sponsors were fantastic and Princess Jenna did a superb job as host and as the special musical act for the evening. Everyone had a great time and I look forward to more inter-chamber collaboration,” he added.
Major sponsors of the Inter-Chamber night were:
- Pernod Ricard
- Cambodia Beverage Company., Ltd (Coca-Cola)
- Itacate & Ostra Fine Foods
- Curry King
- Maison de Maé
Marisa Haruta, Chief Representative of JETRO said it was good to finally meet lots of people from different business and cultural background at the gathering.
“At JBAC we tend to have gatherings among just Japanese but this Inter-Chamber event might help the members to reach out to different communities to expand their network in the future,” she said.
More business delegations visiting Cambodia
Since the easing of entry requirements and the lifting of quarantine restrictions, Cambodia has witnessed an uptick in the number of visiting business delegations visiting the Kingdom both regionally and internationally.
International Investors have been buoyed by the introduction of the new Investment Law, as well as recent announcements of strong growth forecasts for 2022-2023 by the World Bank, Asian Development Bank, and the National Bank of Cambodia.
A strong forecast in growth, during economic headwinds, has meant there have been more expressions of interest by international businesses and investors to establish a business presence or to invest in Cambodia.
To read more about Cambodia’s 2022 economic forecast click here.
Katherine McLean, Executive Director of IBC said the Inter-Chamber event was a great opportunity to connect with existing friends and meet new business networks adding it was lovely to see such support from the Private Sector with the amazing turnout.
“Working with other business chambers to make sure this event was a great success has been lots of hard work and lots of fun. The enormous turnout to the event shows the community is excited to attend events and network with the likeminded business community,” she added.
A vibrant international business community in Cambodia
Tassilo Brinzer, Chairman of EuroCham said the huge event was once again a great testimony to the vibrant international business community in Cambodia, resurrected so strongly after the Covid-19 crisis hit the Kingdom.
“The outcome shows that everyone is very positive about doing business here, and we look forward to welcoming more new investors and business people to our multinational network of professional chambers,” he added.
Cambodia’s international business chambers have been aiming to have better relationships as a group as well as bilateral discussions to enhance private sector working groups that can better enhance the local business environment.
This has been reflected as both business people and professionals better organize or associate themselves to avoid missing out on collaboration opportunities with international businesses and investors that are either returning or taking a fresh look at the Kingdom.
Many have decided to become associate members of established chambers of commerce regardless of their nationalities, yet others are considering different pathways to offer alternative choices to international businesses and investors.
For those needing a grand space for a very special occasion or an intimate space for private meetings.
Oakwood Premier Phnom Penh offers a range of elegant venues with state-of-the-art facilities conceptualized or stimulating ideas, celebrate milestones, and build and strengthen relationships, complemented by custom packages to meet the requirements of the guests.
To read more about the Oakwood Premium in Phnom Penh for business travelers and events click here.