‘Cambodia presents business opportunities for Philippines firms’

MANILA, Philippines — There are promising opportunities in Cambodia for big and small Philippine businesses, according to Association of Southeast Asian Nations (ASEAN) Business Advisory Council chair for the Philippines Joey Concepcion.

In a statement on Tuesday, Concepcion said several expansion and export opportunities in Cambodia for Philippine companies were explored during the CEO Roundtable meeting held on the sidelines of the ASEAN Summit in Phnom Penh last week.

He added that the meeting was able to identify areas of cooperation in agriculture, housing, digitalization, food security, hospitality, garments manufacturing, business process outsourcing and with micro, small and medium enterprises (MSMEs) development as among the priority areas.

The Go Negosyo founder noted that agriculture, in particular, was revealed as a promising area of cooperation between the two countries.

He pointed out that Cambodia produces rice, but Vietnam – a major exporter of rice to the Philippines – has the biggest production by hectare.

“Cambodia is a big exporter of rice, but it goes through Vietnam for processing,” Concepcion said.

“Our suggestion is to import so that the Philippine companies can process the rice,” he added.

Concepcion said Cambodian businessmen were receptive to the idea, and even offered technology exchange between the two countries.

The CEO Roundtable meeting was the first engagement of President Marcos during the ASEAN Summits.

The private meeting was attended by Cambodian and Philippine business leaders to connect and discuss opportunities for business exchange between the two economies.

Also at the meeting were Philippine Chamber of Commerce and Industry’s George Barcelon, LT Group’s Michael Tan, Go Negosyo senior adviser Josephine Romero and the Philippine winners of the ASEAN Business Awards 2022.

During the meeting, the Philippine group invited Cambodian businessmen to invest in the Philippines and partner with Philippine businesses.

Several opportunities for business exchange emerged for both big and small businesses.

MSMEs from the Philippines – FELTA Multimedia, Home Healthlink and Esquire Financing – who were also winners of the ASEAN Business Awards, said they are looking for partners to expand both in the Philippines and within ASEAN.