Cambodia Investment Review
The Philippine Chamber of Commerce & Business Association in Cambodia (PhilCham Cambodia) successfully hosted the “Mabuhay Night: Meet the Ambassador” event on 9 August 2024, at the Grand Ballroom of Oakwood Premier Phnom Penh. This event provided an opportunity for the Filipino community and Cambodian business leaders to meet and interact with the newly appointed Philippine Ambassador to Cambodia, H.E. Flerida Ann Camille P. Mayo. The highly anticipated gathering brought together business leaders, diplomats, and members of the Filipino and Cambodian communities for a night of networking, cultural exchange, and insightful dialogue about the future of Philippines-Cambodia relations.
A Memorable Evening of Diplomacy and Culture
The event commenced at 6:15 PM with a lively pre-cocktail and networking session, where attendees had the opportunity to engage in meaningful conversations and establish new connections.
Read More: Incham and Philcham Unite To Bring More Business Networking Opportunities To Members
At 7:20 PM, the official program began with a heartfelt traditional invocation by the Cordillerans in Cambodia. This was followed by stirring renditions of the Cambodian and Philippine national anthems, beautifully performed by the Phnom Penh Choral Ensemble (PPCE).
Ms. Benilda Fernando, President of PhilCham, opened the evening with inspiring welcome remarks. She emphasized the organization’s mission to promote commercial relations between the Philippines and Cambodia and to serve as a vital resource for businesses and professionals.
Mr. Tim Montero, PhilCham Cambodia’s Director of Communications and Marketing, then introduced the new Philippine Ambassador to Cambodia, H.E. Flerida Ann Camille P. Mayo. Ambassador Mayo’s illustrious career in the Philippine Department of Foreign Affairs spans over 42 years and includes extensive international experience, which garnered great admiration from the audience.
Keynote Speech by Ambassador Flerida Ann Camille P. Mayo
In her keynote address, Ambassador Mayo emphasized the growing economic ties between the Philippines and Cambodia, highlighting numerous opportunities for increased trade and investment.
“The Philippines and Cambodia are practically on a parallel growth trajectory that promises so many economic opportunities,” said Ambassador Mayo. She highlighted the Philippines’ solid macroeconomic foundation, favorable demographics, abundant natural resources, and business-friendly reforms as key drivers for growth.
According to the ambassador, the Philippines is poised to become a $1 trillion economy by 2033, joining the ranks of economic giants like China, Japan, India, and South Korea. Its young, skilled, English-speaking workforce in a domestic market of over 100 million people also makes it an attractive destination for foreign investment.
“The Philippines is also projected to have the world’s 13th largest consumer market by 2030, with per capita GDP doubling from $3,541 in 2023 to about $6,500 by 2030,” said Ambassador Mayo.
On the trade front, the ambassador acknowledged that there is still work to be done to raise the total trade volume between the two countries, which stood at only $18.5 billion in 2023. However, she expressed optimism about the growth potential, citing products like Philippine lenses, tobacco, Cambodian fruits, electric motors, and garments as existing best sellers.
“Certainly, our countries have so much more to offer and trade,” she said, adding that she has been meeting with Philippine and Cambodian companies to uncover potential synergies, especially in sectors like retail, education, food and beverage, and healthcare.
The ambassador also highlighted the upcoming Joint Commission for Bilateral Cooperation meeting in Manila later this month, where the two governments will have the opportunity to discuss a range of economic topics, including trade, investment, agriculture, tourism, and finance.
“Please be assured that the doors of the Philippine Embassy are always open to our friends and partners, and we remain ready to support initiatives that create lasting value for our peoples,” Ambassador Mayo concluded, inviting the audience to explore the many opportunities offered by the growing Philippines-Cambodia economic partnership.
A Night of Celebration and Collaboration
The evening continued with an official toast led by Ms. Shiandy Puyao-Katoch, Executive Director of PhilCham Cambodia, celebrating the strong and growing ties between the Philippines and Cambodia and the exciting opportunities that lie ahead.
Attendees were then treated to a sumptuous dinner, complemented by a mesmerizing saxophone performance by Sam Tago and an intermission by the PPCE, which added a touch of elegance and cultural vibrance to the evening.
The event concluded with closing remarks from Mr. Ronald Almera, Vice President of PhilCham Cambodia. He expressed gratitude to all attendees for their participation and support. Additionally, he extended thanks to the organization’s members for their continued support, as well as to the event sponsors for their financial and in-kind contributions, which significantly contributed to the event’s success. Lastly, Mr. Almera reiterated PhilCham’s commitment to fostering dynamic commercial relations between the Philippines and Cambodia.
The “Mabuhay Night: Meet the Ambassador” event was a resounding success. The Philippine Embassy in Cambodia eagerly anticipates ongoing partnership and dialogue with the business community to achieve shared prosperity. PhilCham Cambodia looks forward to future endeavors that will further solidify and expand the Philippines-Cambodia commercial relations.
Our heartfelt gratitude goes to our sponsors: Grant Thornton Cambodia and The Bridge Club for their cash contributions; S Liquor and Jura for providing free-flow wines and beverages; Magellan Communications Corporation for their photography and videography services; and Cambodian Investment Review for their PR support. Additionally, we extend our appreciation to our premium members—CamEd Business School, Cambodia Asia Bank, Pru Life UK, and Intercare Hospital—for their unwavering support.
Stay connected with PhilCham Cambodia as we unveil exciting upcoming events and initiatives via our social media channels. Together, we will continue to foster innovation, drive economic growth, and shape the future of Philippines-Cambodia business relations.
