Cambodia Investment Review
The American Chamber of Commerce in Cambodia (AmCham) held its 2025 Annual General Meeting (AGM) and Charity Gala Dinner on March 27 at Oakwood Premier Phnom Penh, highlighting a year of expansion in membership, policy advocacy, and financial performance. The evening also saw the announcement of AmCham’s newly elected Board of Governors for the 2025 term.
New Board Members Join AmCham Leadership
AmCham unveiled six new board members elected for 2025, bringing fresh perspectives and expertise to the chamber’s leadership. The newly elected governors are:
- Ruwan Hulugalle, Senior Consultant at HBS Law
- Davy Kong, Partner at DFDL Cambodia
- Jay Cohen, Partner & Director at Tilleke & Gibbins (Cambodia) Ltd.
- Devin Barta, Director of Operations at AHF Products
- Por Lim, General Manager at Starbucks Cambodia
- Vicheka Chourp, Chief Executive of ISF Cambodia
They join a broader team led by Casey Barnett, President of CamEd Business School, who continues his role as AmCham President, along with returning governors including Anthony Galliano (Cambodia Investment Management), Torsten Kleine Büning (ABA Bank), Bora Kem (Mekong Strategic Capital), and Vanseka Sok (Sethalay Law Office).
The new board reflects AmCham’s ongoing commitment to diverse representation across industry sectors such as law, finance, retail, education, development, and manufacturing.
Read More: AmCham Announces New Board and Discloses Positive Financial Position For 2024
Membership and Engagement Highlights
In 2024, AmCham’s community grew to include members across 14 industries, with seven active advocacy committees covering education, ICT, real estate, tax, law, logistics, and women’s empowerment. The chamber held 56 events attracting nearly 4,000 attendees, with over 40 red ribbon ceremonies held to welcome new members.
Platinum, Gold, and Standard membership tiers saw an increase in revenue, although SME/NGO and individual memberships declined, prompting a renewed focus on membership engagement and retention for 2025.
Financial Performance: Surplus Jumps 83%
A highlight of the AGM was the chamber’s strong financial showing for 2024. AmCham reported a net surplus of $39,509, up 82.8% from $21,657 the previous year. Total cash holdings rose to $119,880, a 15.3% increase, reflecting improved cash flow and operational management
Revenue for the year exceeded $328,000, generated from membership fees, event sponsorships, and ticket sales. While event income fell by 38.3%, expenses were tightly managed. Event-related costs decreased by 37.8%, and donations dropped by 79.4%, following exceptional fundraising efforts in 2023. Staff costs rose slightly as the organization scaled its activities.
By year-end, AmCham held $157,854 in total assets against $99,529 in liabilities. The chamber reaffirmed its commitment to financial transparency, continuing to publish audited statements under international standards and announcing plans to adopt IFRS for SMEs in 2025.
Advocacy Milestones and Institutional Growth
AmCham’s policy influence expanded significantly in 2024 through partnerships with both the U.S. Embassy and the Royal Government of Cambodia. A landmark achievement was the launch of the Cambodia-U.S. Public-Private Sector Dialogue, co-chaired with Deputy Prime Minister Sun Chanthol and the U.S. Embassy. The platform is set to become a key forum for addressing investor challenges and driving reform.
Additionally, AmCham welcomed Matthew Pocock as its new Executive Director in October. Formerly with EuroCham and the UK’s Department for International Trade, Pocock is expected to bring strategic insight into trade promotion and chamber development.
AmCham’s seven advocacy committees were especially active in 2024. Key achievements included a Joint Tax Forum with EuroCham, legal briefings on investment law, digital policy events in Bangkok, and the launch of the International Trade and Logistics Committee.
A pivotal contribution was AmCham’s Business Environment Survey Report, which gathered responses from 542 companies. The findings influenced Prime Minister Hun Manet’s economic task force and are helping shape national reforms.
Outlook for 2025
Looking ahead, AmCham will celebrate the 75th anniversary of Cambodia-U.S. diplomatic relations with a renewed focus on bilateral trade, investment, and cultural exchange. The chamber’s ongoing partnerships with U.S. government agencies, Cambodian ministries, and the private sector are expected to drive further advocacy and engagement.
AmCham President Casey Barnett emphasized the chamber’s role in fostering sustainable economic partnerships: “We are not only investing in businesses but in the future of Cambodia. AmCham will continue to champion transparency, partnership, and growth for all our members.”
