Cambodia Investment Review
The American Chamber of Commerce (AmCham) in Cambodia is currently experiencing a “Golden Era” of growth and achievement, according to its outgoing President, Anthony Galliano citing doubled membership and 122% revenue growth in the past two years – with over $300,000 in reported revenue for 2022 alone.
In a recent statement to Cambodia Investment Review, Anthony expressed his pride in the Chamber’s unprecedented record of success over the past two years, saying, “The Chamber has accomplished so much… and is now positioned as the fastest growing and one of the most active in the Kingdom.”
Read more: AmCham announces record membership milestone
One of the major achievements of AmCham during Anthony’s tenure was the significant increase in membership. The Chamber’s membership doubled to 252 in just two years and continues to accelerate. Anthony emphasized that the Chamber’s focus on customer-centric practices played a major role in this growth, stating that: “The Chamber is managed as if a business, and customers, our members, are first and foremost, front and center.”
A focus on advocacy and consultation
AmCham now has eight active Advocacy Committees, up from five in 2021. These committees focus on various sectors such as Tax, Real Estate and Construction, Education, Information and Communication Technology, Corporate Social Responsibility, Law, Women, and Beer and Spirits.
According to Anthony, these committees allow the Chamber and its members to take an active and effective role in developing and influencing policy, regulation, and practice that contributes to and enhances the advancement, competitiveness, and attractiveness of business in the Kingdom.
Anthony also highlighted the success of AmCham’s events, which included annual forums with key ministries, such as the General Department of Taxation, the Trust Regulator, the Insurance Regulator, the Securities and Exchange Regulator, and Cambodia Securities Exchange, and the Ministry of Justice.
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In addition, the Chamber hosted a Capital Markets event promoting the private equity industry and securities market, and the Great Debate, which analyzed the Real Estate sector. Anthony noted that the Chamber’s monthly networking events are: “truly valued by members and friends as great opportunities for business networking and socialization.”
A strong financial platform for the chamber
AmCham also strengthened its financial position, achieving its strongest financial position in history. Revenues increased by 80% in 2022, following a 24% increase in 2021, leading to an overall increase of 122% in the past two years – with $300,200 in reported revenue for 2022. Anthony attributed this success to the Chamber’s Treasurer, Casey Barnett, saying: “This is a testament to the fabulous job of our Treasurer.”
The Chamber also increased its activities in Corporate Social Responsibility during Anthony’s tenure, with a goal of “giving back” to the community. AmCham donates 10% of all membership fees to charitable causes and donated to various organizations, such as the Cambodian Mine Action Authority and Mercy Medical Clinic.
Charity night and AGM for 2023
AmCham will hold its Annual General Meeting on March 1st to elect it new Board, followed by a Charity Gala Dinner with special honorary guest Lt. General, Hun Manet, Deputy Commander-in-Chief of the Royal Cambodian Armed Forces and Commander of the Cambodian Army, who will also deliver the keynote remarks.
Read more: AmCham receives a record list of 20 candidates for 2023 board election
The charity is raising anchor funds for a new foundation, being established for the benefit of the Royal Government by Brad Gordon and Steven Heimberg, to return Khmer treasures back to Cambodia from the US and Europe.
To embrace digitalization, the AmCham Channel was launched on YouTube. All major AmCham events are recorded and available on the channel – the chamber has also greatly increased it social media presence and intensified its information distribution.
Looking ahead, Anthony expressed his confidence in the new leadership, stating: “I strongly believe we have the best people leading the Chamber. The success of this Chamber is not centered on any one individual but on a team of the best of the best.”
Anthony added that he was blessed to work with such a talented, committed, and energetic Board and Executive Management Team, who are truly the reason for the Chambers success in the last two years. He believes that in handing over the baton, it is the dawn of new chapter in the Golden Era of AmCham.
