The Phnom Penh Chamber of Commerce plans to form six working groups to help the government improve Cambodia’s investment climate.
The working groups will focus on the banking system, hotels, clubs, commercial trading, garment factories and tourism, Chamber officials said.
“If we in the business sector are to work closely with the government, we need to know what the government is doing with investors,” said Phnom Penh Chamber of Commerce President Soh Kong, adding that government often is not successful when it deals directly with investors.
Twenty-one Cambodian business associations representing countries including China, Thailand, Malaysia, Hong Kong, Taiwan, Singapore, Australia and the US met in Phnom Penh Monday to discuss the working groups.
Yum Sui Sang, president of the Hong Kong-Macau Business Association—a 57-member group of investors ivolved in garment factories, hotels, banks and casinos—said most of the Association’s companies have more than $1 million invested in Cambodia.
He said he is in favor of any organization that shares ideas with the government on dealing with the business community. “If we have no idea about agreements between the government and the private sector, the speed of business is not going to move,” Yum Sui Sang said.
Soh Kong said the working groups would strive to educate investors on possible business locations, the legal system, and the business and political climates in Cambodia. He also said the working groups would have the right to reject a government idea if they believe it won’t work.
