The Malaysian Business Chamber of Cambodia (MBCC) Friday hosted an international summit focused on integrating Cambodia’s economy with the broader ASEAN community, bringing together Malaysian business chambers across the Indochina region to explore investment opportunities and strengthen commercial alliances.
The ‘ASEAN Malaysian Business Chambers Summit’ theme 2024 Review & 2025 Outlook was presided over by Chea Vuthy, Secretary General of the Cambodian Investment Board (CIB) of the Council for the Development of Cambodia (CDC), Shaharuddin Onn, Malaysian Ambassador to Cambodia and Tan Khee Meng, President of MBCC held at the Sun & Moon Riverside Hotel in the capital.
During the event, representatives of the Malaysian business chambers exchanged memoranda of understanding on cooperation.
Addressing the opening ceremony, Meng said that this year’s summit was organised specially to promote Cambodia’s attractiveness as an investment destination in the region as well as to deliberate various business opportunities aimed at strengthening economic alliances between the Kingdom and ASEAN countries including Lao PDR, Thailand, Myanmar, Philippines, Indonesia and Vietnam.
On the economic front, the CIB Secretary Vuthy said, “Malaysia has emerged as one of Cambodia’s key partners, consistently ranking among the top 10 sources of foreign direct investment (FDI) and contributing approximately $224 million over the past five years.”
“In the first 11 months of this year, Malaysians invested around $44 million. This investment has been instrumental in driving Cambodia’s economic progress across various sectors, including construction, education, and healthcare,” Vuthy added.
In his remarks, Ambassador Shaharuddin expressed appreciation to the MBCC President and the working group for hosting this significant summit. He highlighted MBCC’s value as a platform that fosters connections, interactions, and collaborations among investors and business leaders from diverse countries, contributing to the expansion and deepening of engagement within the broader ASEAN markets.
This year’s summit also had a panel discussion followed by the Q&A session on economic cooperation which was chaired over by representatives of the Malaysia Business Chamber of Laos (MBCL), Malaysia-Myanmar Business Chamber (MMBC), Malaysian-Thai Chamber of Commerce (MTBC), Malaysia Business Chamber in Vietnam (MBCV), Malaysia Chamber of Commerce and Industries Philippines (MCCI) and Malaysia Chambers Jakarta (MCJ) moderated by the MBCC President.