PH, Cambodia eye expansion of business ties

The Philippines and Cambodia have inked a memorandum seeking to further expand trade and economic cooperation between the two nations.

During the Philippines-Cambodia Business Forum on Monday, the Philippine Chamber of Commerce and Industry (PCCI) and the Cambodia Chamber of Commerce (CCC) led the signing of a memorandum of understanding (MOU) as commitment to strengthen their business ties. 

PCCI chairman George Barcelon encouraged participants to take the opportunity during the event to collaborate on infrastructure development, tourism, and agriculture. 

Meanwhile, CCC vice president Oknha Sok Piseth shared their vision on embracing digitalization, explaining how artificial intelligence could enhance business competitiveness and efficiency.

Suon Sophal, deputy secretary general of the Cambodian Investment Board at the Council for the Development of Cambodia, also encouraged Filipino businesses to invest in Cambodia, citing the new Investment Law of 2021 which establishes an open and liberal foreign investment regime. 

PCCI president Consul Enunina Mangio said that Cambodia’s remarkable economic transformation and the Philippines’ robust growth trajectory “create natural synergies and huge potential for expanded business collaboration.”

She also told Cambodian businesses that the Philippines is seeking to explore partnerships as it sees Cambodia “as not just as a market of 17 million people but also as a strategic partner in the ASEAN economic community and a gateway to Mekong region.”

Philippine President Ferdinand "Bongbong" Marcos Jr. is set to meet Cambodian Prime Minister Hun Manet on Tuesday as the two countries look to improve bilateral ties.

"The President will have a bilateral meeting with the Cambodian Prime Minister on 11 February to discuss advancing cooperation in combatting transnational crimes, defense, trade, tourism, regional and multilateral cooperation," the Presidential Communications Office (PCO) said. —Giselle Ombay/AOL, GMA Integrated News