AmCham’s roadmaps for economic recovery and member development

AmCham, which celebrated its 25th anniversary yesterday in Cambodia, is preparing to chart a course for the resumption and restoration of the economic traction and development of its members, an approach aimed at leaving behind the historical memory of the Covid-19 pandemic.

AmCham President Anthony Galliano at his annual general meeting which coincided with the anniversary highlighted the superb stewardship and handling of the pandemic by the government which has led the Kingdom to position itself as a first starter in the region with an economic renaissance on the horizon. .

He said Cambodia was taking its rightful place as one of the world’s fastest growing economies and most attractive destinations for FDI, as it has been over the past two decades. .

AmCham, he added, which has grown and now has more impact, is more ambitious than ever to help its members thrive in Cambodia as it thrives and flourishes.

Despite the challenges of Covid-19 encountered, AmCham and the Board of Governors have shown their strength and commitment to support its members who have grown by 45% to a record number of 175 members.

“As the world emerges from the difficulties of Covid-19 and looks to recovery and growth, AmCham will build on its success and set itself higher standards, more impactful goals and expand relationships and dialogue with members, ”said Galliano. .

AmCham officers, members and guests at its Annual General Meeting and 25th Anniversary Celebration. KT / Siv Channa

Meanwhile, Cambodian People’s Party lawmaker and chairman of the Education, Youth, Sport, Religious Affairs, Culture and Tourism Commission, National Assembly, Hun Many, said in his speech that Prime Minister Minister Hun Sen and his five children valued the US-Cambodia relationship as he had ensured that the five children received their education in the United States.

Speaking about the two countries’ relationship, many said the key would be to seek a win-win solution and better understanding to achieve an improved relationship.

“We have differences, but with more than 70 years of bilateral relations, we wouldn’t have gone this far if we had nothing in common. Understanding and openness can be the key to better relationships, ”he said.

Public Works and Transport Minister Sun Chanthol said in his speech that Amcham can be the goodwill ambassador for better relations between the United States and Cambodia.

“Please don’t give up and run away from Cambodia after being here for 25 years as you celebrate your 25th birthday. Work with us, help us overcome misconceptions, misunderstandings and negative perceptions, as we always engage the United States in all aspects, diplomatically and through business and industry, ”he said. -he adds.

Prime Minister Ly Thuch, in his speech at the AGM, said Cambodia has experienced rapid economic growth over the past decade.

“Cambodia’s GDP grew by around 7% per year over the same period, making it one of the fastest growing economies in the region. The country moved to the status of lower middle income country according to the World Bank classification in 2016, ”he said.

The economy, Thuch said, is expected to return to its pre-Covid growth path in the years to come.

Thuch said Cambodia became a beneficiary of the United States Generalized System of Preferences (GSP) in 1997 and travel items were added to the GSP in 2016. Since then, the travel items industry has experienced rapid growth, with Cambodia exporting $ 392 million in trips. goods to the United States in 2018.

He added that the Cambodian economy is very open to foreign investment.

“We are very optimistic that as more and more US companies expand their operations and inject capital into the country, the economy will recover faster and become even stronger. US investment in Cambodia is essential to contribute to the green recovery in the short and medium term and to rebuild better in the long term, ”said Thuch.

  • Keywords: AmCham, COVID-19 pandemic
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