The Philippine Embassy in Cambodia sees brighter prospects for increased bilateral trade and investment with Cambodia as a result of the successful conduct of the 3rd Philippines-Cambodia Business Forum held on 21 August 2015 at the Raffles Hotel Le Royal, in Phnom Penh.
Organized by the Philippine Embassy, the Business Forum was part of the activities for the Outbound Business Mission (OBM) to Cambodia, Laos, Vietnam, and Myanmar (CLMV) spearheaded by the Export Management Bureau of the Department of Trade and Industry.
“The time for Philippine companies to do business with Cambodia is now rather than later, particularly in light of ASEAN economic integration," Philippine Ambassador to Cambodia Christopher B. Montero told the participants at the opening of the Business Forum, which included fourteen (14) participants representing eleven (11) PH companies in the areas of food manufacturing, franchising, trading, personal care and cosmetics, pharmaceutical manufacturing and distribution, hotel and hospitality, and decor.
"As a result of Cambodia's fast-developing economy, there is good business potential for Philippine companies especially in the areas of consumer products, manufacturing, agri-business, tourism, construction and real estate development,” Ambassador Montero added. A total of fifty-six (56) Cambodian participants attended the Business Forum and the business networking/matching sessions, which included one of the top franchise owners and one of the top grocery product distributors of Cambodia.
In his welcome remarks, H.E. Chhuon Dara, Secretary of State of the Ministry of Commerce of Cambodia, underscored the fact that PH-KH investment and trade relations is ripe for expansion and encouraged increased commercial activity between the two countries. He cited the openness of the Cambodian economy to foreign companies wishing to do business in the country, particularly.
To enable Philippine companies gain a better grasp of the business environment of Cambodia, a presentation was given on "Doing Business in Cambodia" by DFDL, a leading commercial, tax and legal advisory company in Cambodia and in Southeast Asia. The presentation focused on Cambodia's tax regime, investment law, regulatory environment and dispute resolution.
Aside from the Business Forum, the Embassy also organized a Networking Lunch, Business Matching sessions and market surveys/visits for the OBM delegates. END
