2017 Cambodia International Business Summit Concluded with Success

AKP Phnom Penh, February 17, 2017 –

Close to 400 participants who are leading business and government representatives presented and discussed the state of the economy, challenges and ongoing reforms as well as sectorial opportunities in the Kingdom, said the International Business Chamber in Cambodia (IBC).

“The bi-annual event attracted the highest number ever of visitors from throughout the region to the Cambodian capital,” IBC underlined.

“We are proud to welcome so many business leaders here, and to offer an opportunity for them to meet and mingle with many of Cambodia’s most senior government executives,” said Mr. Bretton Sciaroni, Chairman of the IBC.

“We want to bring the private and the public sector together and help deepen ties between the two, as well as share access to these important players in the Cambodian economy with international investors. Our speakers and panelists share extremely valuable insight and knowledge about the Cambodian market, and through our networking events visitors can extend their local contacts base and get to know the right people for their business venture in the Kingdom,” he added.

The event was inaugurated by Cambodia’s Prime Minister, Samdech Akka Moha Sena Padei Techo Hun Sen, who made a strong point on the advantages of investing in the Kingdom, and in particular mentioned the opportunities arising from the country’s young and success-hungry population.

“The number of middle-incomers has significantly increased, which suggests increased demand for consumer goods and services with world standards. The country’s new labour force has gotten highly educated and skilled and their number has increased from year to year. These are the factors that attract more investment and business to the Kingdom,” Samdech Techo Prime Minister said.

Mr. Gerald Lawless, the Chairman of the Word Travel & Tourism Council (WTTC) and the keynote speaker at the summit, in particular mentioned the opportunities in the Cambodian tourism industry, which already contributes a large share to the Kingdom’s annual GDP growth. He also promoted open sky policies and a restricted implementation of visa fees in order to attract more tourists to Cambodia and warned of overusing the country’s long-term tourism assets such as Angkor Wat and other heritage sites.

The 2017 Cambodia International Business Summit is widely regarded as the largest business meeting in the Kingdom, attracting international investors and business leaders to the Cambodian capital.

“Our mission at the IBC is to support the development policy of the Royal Government, to assist in informing potential investors about this exciting growth market and to help bring investments into the country. We see increased interest in Cambodia from a range of countries and hope that we can contribute more to the prosperous future that awaits this country,” said Mr. Pierre Tami, Head of the IBC’s investment committee.

The IBC is one of the first business chambers in Cambodia, representing more than 100 members from the corporate world that are invested in the Kingdom. It is a key player in the government private sector forum (GPSF), which regularly consults with the government on key issues for the private sector in a range of industries.

By Khan Sophirom

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