The Singapore Business Federation (SBF), the apex business chamber in Singapore, will lead a delegation of diverse businesses to Cambodia from July 31 to 5 August. The purpose of the visit is to gain insights into Cambodia’s economic potential and explore investment and business opportunities in the country.
The upcoming visit is significant for many reasons, among which is that SBF represents the interests of the widest spectrum of the business fraternity in Singapore. As of December 2021, there were 27,769 members, making SBF the business chamber with the largest membership; in fact, all other business chambers and associations in the little red dot are also SBF members.
The visit program for the SBF delegation includes a business seminar that will cover the local business operating environment, the challenges and opportunities of doing business in Cambodia, among other topics of interest. Site visits to Special Economic Zones in Phnom Penh and Sihanoukville, as well as briefings by on the real estate market, digital and e-commerce landscape, start-ups and SMEs scene and priority sectors identified by the Cambodian government, are also scheduled. Several business networking receptions will be organized for the delegation to interact with different segments of the local business community.
Strong testament to the growing interest from Singapore businesses
As the coordinator for the visit program, Aquarii BD Cambodia’s CEO Michael Tan said that the visit is a strong testament to the growing interest from Singapore businesses and investors in Cambodia. He noted that over the past 12 months, there had been more enquiries and requests from Singapore SMEs and asset management companies, among others, for information on bankable projects and collaboration opportunities in Cambodia. The uptick in their interest in Cambodia stemmed from a greater awareness, albeit belatedly, of the emerging economy’s dynamic growth and demography, and that it has been politically stable over the past two and a half decades.
“The agenda of the visit has been meticulously designed to provide participants with a holistic and realistic understanding of Cambodia’s domestic developments and business landscape. Through site visits and briefings by the relevant industry experts and subject matter resource persons, the delegation members will have the chance to see for themselves the real socio-economic transformation of Cambodia.
Through interactions, frank dialogue and candid discussions with local and foreign business counterparts in Cambodia, they will get to hear their insights and experiences, both good and not so good, and ask questions or seek clarification to satisfy their concerns and reservations.
Ultimately, this will help them dispel or confirm, misperceptions and outdated perspectives they may have of Cambodia, and leave with a clearer appreciation of the risks, challenges and opportunities of doing business or undertaking an investment in Cambodia. And hopefully, they will become the ambassadors and advocates for Cambodia; how others should not continue to overlook or dismiss Cambodia as an attractive destination for investment and business.”
He added that this collaboration with SBF is part of ongoing efforts to foster meaningful dialogue, knowledge exchange, and long-term partnerships. The SBF visit program of activities is supported by Khmer Enterprise.
Support the start-ups and SMEs ecosystem in Cambodia
Dr Chhieng Vanmunin, CEO of Khmer Enterprise, said that the SBF visit and planned activities are aligned with KE’s mandate to support the start-ups and SMEs ecosystem in Cambodia.
“The SBF visit and schedule of activities allow local and foreign businesses in Cambodia to explore collaboration opportunities and establish meaningful connections with their Singaporean counterparts; they allow international investors and businesses to witness firsthand, Cambodia’s real potential.”
“Cambodia is a pro-investment and pro-business open economy; it is a ready market that welcomes Singaporean and other international businesses and investors to invest and do business in. KE’s role is to create the right environment and platform by working with quality and competent partners to draw in FDIs, while empowering and enabling local and foreign businesses to realise the immense opportunities that Cambodia offers.”
The visit will commence with a business seminar featuring speakers from Khmer Enterprise, Phillip Bank, VDB Loi and Aquarii BD Cambodia. Topics of discussion include Cambodia’s economic situation, banking and finance, legal and tax structures, regulatory frameworks, and insights into how domestic, regional and geopolitical events can be interpreted in the local context for business and investment decisions. The seminar will be moderated by Mr Harrison White, CEO of Cambodia Investment Review.
Several business networking and discussion sessions will be organized to facilitate the sharing of insights, experiences and knowledge between the delegation and different segments of the local business communities, as well as to establish business connections and explore collaboration opportunities. The networking events are supported by Khmer Enterprise, Cell Card, Phillip Bank, Harry Elias Partnership, Pinord Ricard and Hanuman Beer.
The program also includes site visits to Le Urban Eco Park, Phnom Penh SEZ, Prince Real Estate, Huawei and Khmer Enterprise, which will be followed by briefings by the respective hosts on the relevant sectors of Cambodia’s economy and priority investment areas.
The delegation will conclude the visit by exploring Sihanoukville port city’s transformation and its role as a vital engine of growth for Cambodia, with a focus on the deep-sea port and its complementary SEZs – the Sihanoukville Special Economic Zone and Sihanoukville Port Special Economic Zone.
