Cambodia Investment Review
A significant step towards enhancing economic collaboration between India and Cambodia was taken with the official inauguration of the Indian Business Chamber in Cambodia (IBCC). The event, which saw the participation of esteemed dignitaries including H.E. Dr. Devyani Khobragade, Ambassador of India to Cambodia, and H.E. Pich Rithi, Secretary of State at the Ministry of Commerce, brought together a notable gathering of over 250 leaders and representatives from the business and government sectors.
Mr. Babulal Prihar, President of the IBCC, in his welcoming address, delineated the chamber’s mission as a bridge fostering trade and investment between the two nations. He stated, “The establishment of the Indian Business Chamber in Cambodia symbolizes more than just the fortification of economic ties. It represents the Indian business community’s commitment to contributing to the growth and development of Cambodia.” He further emphasized the chamber’s role in providing crucial business and legal information to Indian businesses considering the Cambodian market.
Favorable Regard India Holds in Cambodia
Reflecting on the deep-rooted historical ties between India and Cambodia, H.E. Dr. Devyani Khobragade highlighted the favorable regard India holds in Cambodia. She underscored the launch of the IBCC as a significant step towards strengthening bilateral relations, outlining strategic initiatives such as the Duty Free Tariff Preference Scheme and discussions on various bilateral agreements to facilitate trade and investment.
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H.E. Mr. Pich Rithi conveyed his congratulations to the IBCC, recognizing the chamber’s potential to bolster business-to-business cooperation and offer valuable networking opportunities. He noted, “The official launch of the Indian Business Chamber in Cambodia is a testament to our shared vision of enhancing trade, investment, and business activities between our two nations.”
The event concluded with a vote of thanks by Mr. Niraj Gupta, Board of Director, IBCC, who expressed gratitude to the attendees and emphasized the chamber’s commitment to fostering a favorable business environment through collaboration with the government, business associations, and stakeholders.
Adding to the significance of the occasion, Babulal Parihar shared his vision for the IBCC, stating, “As we embark on this journey, our mission is to promote and facilitate trade and investment between our nations. We see immense potential in sectors like education, healthcare, agriculture, technology, and infrastructure development, and encourage Cambodian businesses to be part of India’s growth story.”
Transformative Economic Growth India Has Experienced
Parihar also highlighted the transformative economic growth India has experienced and invited Cambodian businesses to explore opportunities in the rapidly growing Indian market. He emphasized the IBCC’s commitment to fostering partnerships, addressing challenges, and advocating for policies that create a conducive business environment.
The event not only marked the inauguration of the IBCC but also featured vibrant cultural performances, symbolizing the rich cultural heritage of both nations. The ceremony culminated in a networking dinner reception, setting the stage for future collaborations and mutual prosperity.
As the IBCC sets its sight on strengthening economic ties and fostering business growth, the launch event stands as a testament to the shared commitment of India and Cambodia towards a prosperous and collaborative future.
