Cambodia Investment Review

IBC Cambodia Unveils 2024 Ex-Comm Team Positions and Company Sponsors

IBC Cambodia Unveils 2024 Ex-Comm Team Positions and Company Sponsors

Cambodia Investment Review

The International Business Chamber (IBC) of Cambodia has officially announced its executive committee (ex-comm) for 2024 alongside both minor and major sponsors for the year, setting a clear direction for the organization’s strategic endeavors. The announcement comes as part of the chamber’s ongoing efforts to drive forward the interests of the international business community within Cambodia under its ‘IBC 2.0’ strategy.

2024 Executive Committee Members are:

  • Chairperson: Paul Clements, Director of J.A.D.E. Co Ltd
  • Vice Chairperson: Arnaud Darc, Founder and CEO of Thalias Hospitality Group
  • Vice Chairperson: Daniel Simon, Managing Director of Rosewood Phnom Penh
  • Treasurer: James Roberts, Partner/Advisory Services at KPMG Cambodia
  • Committee Member: Anne de Graaf, Corporate Affairs Director at Heineken Cambodia
  • Committee Member: Evangeline Liu, General Manager – Jardine Schindler Cambodia
  • Committee Member: Paul Dodd, Director/Senior Consultant – Infinity Financial Solutions (Cambodia)
  • Committee Member: Paula Nicholas, Cambodia Country Head – Talentnet (Cambodia)
  • Committee Member: Lim Socheat, CEO & Founder – Laksmi Prime Investment
  • Committee Member: Trevor Sworn, Director – Enduring Consultancy

2024 Sponsors are (in alphabetical order):

  • Chaktomuk Data Center
  • Credit Bureau of Cambodia
  • Intercare Hospital
  • JTI
  • Prudential Life Insurance
  • RMA Cambodia
  • Wing Bank

‘IBC 2.0 – 2020 and Beyond

Speaking with Cambodia Investment Review after the announcement, Paul Clements shared insights into the chamber’s performance in 2023 and its outlook for the coming year. “The past year saw a notable rise in engagement and activities among our members, a direct reflection of the substantial support from our partners and the broader community,” Clements stated. He credited this success to the monthly meetings that have become a cornerstone for insightful dialogue and networking within the IBC community.

Clements elaborated on the contributions of various IBC working groups, such as the Road Safety, Supply Chain, Institute of Directors, Education, and Health groups. “These efforts are pivotal to our mission of being both a thought leader and an advocate for international business in Cambodia. It’s encouraging to see our membership base expanding due to these initiatives, and we anticipate this growth will carry into 2024,” he explained.

International Business Chamber of Cambodia Annual General Meeting on March 6 2024 at Hyatt Hotel in Phnom Penh.

Reflecting on the collaboration between the business community and the Royal Government, Clements expressed optimism. “Our collaborative work to identify and eliminate barriers of doing business is crucial, especially in challenging times. Our strategy, ‘IBC 2.0 – 2020 and Beyond,’ aims to nurture this spirit of cooperation, promoting growth and integration in Cambodia’s international business landscape,” he noted.

Broad Appeal & Increasing Engagement Local Business

At the recent AGM the chamber reported an increase to 143 member companies from 20 countries across 12 different industry sectors in 2023, showcasing its broad appeal and increasing engagement with the local business scene, which now includes 15 Khmer-owned businesses.

From a financial perspective, the IBC ended 2023 with revenues of $237,216 and expects a slight adjustment to $234,100 for 2024. Membership fees and event ticket sales continue to be significant revenue streams, indicating a vibrant community engagement. Despite a forecasted decrease in sponsorship revenue to $26,000, the chamber remains financially prudent, with efficient budget allocations maintaining its effectiveness and service quality.

Closing 2023 with an operating surplus of $6,353 and projecting a surplus of $4,530 for 2024, the IBC demonstrates strategic financial management and a positive outlook. “Our financial strategy ensures we maintain a strong foundation, enabling us to continue delivering value to our members while adapting to the evolving business landscape,” Clements concluded, showcasing a balanced approach to navigating the chamber’s future.

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