Singapore, Monday, 24 August 2009 - Singapore businessmen established useful business contacts and benefitted from valuable exposure to Cambodia's business landscape through a six-day business mission organized by the Singapore Business Federation (SBF) and the Association of Small & Medium Enterprises (ASME). This business visit was also actively supported by the Singapore Club Cambodia (SCC).
Taking place from 17 to 22 August 2009, the business mission was led by Mr. Lawrence Leow, Deputy Honorary Secretary of SBF, President of ASME, Chairman and CEO of Crescendas Group. The business delegation was represented by 25 participants from companies engaged in industries such as logistics, architecture, real estate, manufacturing, construction, education and healthcare amongst others.
Mr Lawrence Leow, Deputy Honorary Secretary of SBF, President of ASME, said, "The SBF Mission to Cambodia has enabled our delegates to have a better understanding of the market conditions and business opportunities in Phnom Penh and Siem Reap. The Business & Market Know-How Seminar, site visits and business networking sessions with the local business chambers broadened the exposure of our delegates about the Cambodian market. Additionally, riding on SBF's partnership with the Singapore Cambodian Club in Phnom Penh, delegates were able to gather an accurate picture of doing business, working and living in Cambodia. I am aware that some Singapore companies will be following up on potential deals in Cambodia after the mission."
Meetings and networking sessions with Cambodia economic officials and business captains were organized with the objective of giving Singapore companies a deeper understanding on Cambodia's business climate, investment opportunities and establishing contacts in mind.
The business delegates also went for site visits to the following companies, government organizations and business chambers;
1. ANZ Royal Bank,
2. Berry Apparel Co., Ltd
3. Bok Seng PPSEZ Dry Port Co., Ltd
4. Cambodia Chamber of Commerce,
5. Cambodia Laos Investment & Development Fund,
6. Colben Power Plant,
7. DFDL Mekong Legal & Tax Advisors,
8. Himawari Hotel Apartments,
9. Ministry of Commerce,
10. Phnom Penh Special Economic Zone,
11. Siem Reap Chamber of Commerce
12. Singapore Club Cambodia and
13. The Council for the Development of Cambodia (CDC).
Cambodia offers investment opportunities in agriculture and agro-industry; transportation and telecommunications; energy; labor-intensive; and export oriented industries, tourism; human resource development; processing industry; and oil, gas and mining. Priority and potential sectors for future development in Phnom Penh include the processing, agro and labor intensive industries and tourism, while in Siem Reap, this applies to tourism related activities, real estate and agriculture.
The business mission was well received by the various participant SBF members. Mr Bernd Harnisch, Managing Director, Voith Turbo, said, "SBF did an excellent job of organizing this mission. They facilitated introduction to relevant business contacts at the various meetings. We now have a very clear picture of the Cambodian economy and its growth potential."
Mr. Ng Lee Tak, Senior Vice President, PSB Academy, noted, "The mission was well-organized. It provides a platform for potential investors in Cambodia to have a good feel of the ground and access it personally - seeing is believing."
Prior to the business mission, SBF organized a Pre-Departure Sharing Session which included an incisive presentation on Cambodia's economy, market and business opportunities. The session equipped mission participants with the necessary requisite background information on the Cambodian market. The Cambodian Embassy's Economic Counselor Mr. Pich Chhieng delivered the presentation which included many practical insights and useful advisory pointers on doing business in Cambodia.
While in Cambodia, SBF also organized a "Cambodia Business & Market Know How Seminar" in Phnom Penh at the start of the business mission to impart the business delegates with practical and proven tips on how to engage with Cambodian businessmen. This proved useful in the sessions where the SBF business delegates met and networked with their Cambodian business counterparts.
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