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2017 Cambodia International Business Summit

2017 Cambodia International Business Summit major success with more than 400 participants

Leading business and government representatives present and discuss the state of the economy, challenges and ongoing reforms as well as sectorial opportunities in the Kingdom. Phnom Penh, 15th February 2017 – The biennial event attracted the highest number ever of visitors from throughout the region to the Cambodian capital.

2017 CIBS_Highlight   2017 CIBS_Full Report

The event, organized by the International Business Chamber in Cambodia (IBC) and widely supported by local and international chambers of commerce, brought high profile industry leaders and entrepreneurs together to share expertise, insight and inspiration with the attendees. “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 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, 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 labor 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”, the Prime Minister said. …

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 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. “We hope to bring some of our successes in the GPSF to the summit too, offering attendees a chance to better understand the business environment here. We hope that many of them grab the opportunities Cambodia offers”, said Sciaroni.

The Cambodia International Business Summit is a multi-faceted event and in this years opening session presented Gerald Lawless, the Chairman of the World Travel and Tourism Council (WTTC) as a keynote speaker. Other sessions focused on a range of sectors from education, manufacturing, IT & outsourcing, agriculture, hospitality & tourism to law, tax and governance and featured speakers and panelists with broad experience in the sector, as well as government representatives from the respective ministries. A plenary session led by H.E. Sun Chanthol, Senior Minister and Minister of Public Works and Transport, concluded the day.

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