Cambodia Investment Review
In a strategic move to foster Cambodia’s economic growth and secure a future influx of foreign investment, a coalition of leading chambers and associations have officially launched the Cambodia Confederation of Investors Association (CCIA). The soft launch ceremony marked the association’s official establishment and operational initiation, attracting key representatives from government agencies, embassies, and diverse business sectors.
CCIA’s formation comes as a significant step to enhance the business platform in Cambodia, aiming to facilitate both domestic and international investors in identifying business opportunities within the Kingdom. The organization seeks to improve the investment environment while simultaneously driving the nation’s economic development forward.
The alliance consists of several chambers of commerce, including:
- Cambodia Chinese Commerce Association (CCCA)
- Cambodia Footwear Association (CFA)
- Cambodia Travel Goods and Leather Association (CTLA)
- China Sichuan & Chongqing Chamber of Commerce in Cambodia (CYZSH)
- Malaysian Business Chamber of Cambodia (MBCC)
- Singapore Club Cambodia (SCC)
Speaking to Cambodia Investment Review after the event – CCIA explained that it welcomes all chambers to join the confederation. The establishment emphasized that while providing an additional platform for chamber networking, it does not compromise the autonomy and independence of any participating business chamber. There is no initial joining fee while event/initiatives will be funded equally.
Key members of the CCIA took the opportunity during the soft launch ceremony to articulate the organization’s mission and goals. They stressed CCIA’s role in facilitating dialogue and cooperation among investors, offering information and resources pertinent to the investment environment, and providing consistent training and consulting services to investors. These initiatives are designed to foster a peaceful, stable, and transparent investment environment in Cambodia, luring an increased number of national and international investors to conduct business in the country, they added.
The ceremony, highlighting Cambodia’s friendly business environment that encourages diverse development, is a significant landmark for the Cambodian business and investment community. It instills fresh energy and drive into the country’s economic growth, with CCIA playing a pivotal role in augmenting the investment climate in Cambodia and delivering increased opportunities and support to investors.
Ready For Next Wave Of Chinese & Global Investment
Cambodia is preparing for an anticipated ‘second and third wave of Chinese & global investment’ in the post-pandemic landscape, the business community underscores the necessity of drawing transparent, high-quality investors. The Phnom Penh Forum on “Belt and Road” Economic Cooperation, held in April 2023, sought to facilitate Chinese SMEs’ expansion into Cambodia.
The forum, organized under the “Belt and Road” common development initiative, emphasized the mutual benefits of economic interconnection, joint consultation, joint construction, and win-win sharing. It served as a communication platform for entrepreneurs from different nations, advancing steadily towards globalization and internationalization.
With an eye towards promoting and diversifying its exports, Cambodia is gearing up to tap into emerging market opportunities and strengthen its competitiveness, particularly for exports to regional countries. The Action Plan on Trade and Economic Cooperation 2023-2024, recently signed, is anticipated to amplify the use of preferential arrangements provided by FTAs and similar regional treaties, thus augmenting trade and investment between Cambodia and China.
