EUROCHAM and AHK Vietnam join hands to increase German investment in Cambodia

Phnom Penh: The European Chamber of Commerce in Cambodia (EuroCham Cambodia) and AHK Vietnam will sign a Memorandum of Understanding at the ASEAN-Cambodia Business Summit on September 29 to commemorate the relationship that has been strengthened as six months have passed as both sides are committed to achieving common goals in the future.

In May, the jurisdiction of the Vietnam AHK Working Group was extended to Myanmar, Cambodia, and Laos, and an AHK delegation, including its Chairman Marko Walde, visited the European Chamber of

Commerce in Cambodia in Phnom Penh to discuss the Cambodian market and find collaborative parts.

Among the areas of cooperation mentioned in the Memorandum of Understanding, the two sides will share best practices and knowledge to attract more investment and trade opportunities between Germany and Cambodia. The goals set out in the memorandum of understanding also include investment support for Cambodia from German companies in Vietnam, Laos, and Myanmar.

In addition to trade and investment, the MoU seeks to promote cooperation in supporting Cambodia's sustainable development, enhancing the skills of the Cambodian workforce, and providing business development services to companies. A working group representing both sides will be set up to work on a joint initiative by the European Chamber of Commerce in Cambodia to assist AHK Vietnam in arranging meetings with Cambodian authorities and other stakeholders.

In establishing this partnership, AHK Vietnam has acquired a key ally in its mission to build stronger trade relations between Germany and Cambodia, a mission that the European Chamber of Commerce in Cambodia has been pursuing since the establishment of German Business Cambodia in 2021. Similarly, the European Chamber of Commerce in Cambodia will benefit from increased awareness of the Vietnamese market and the skills provided by AHK's knowledgeable staff and network of experts.

"We are pleased to strengthen the growing relationship between AHK and the European Chamber of Commerce in Cambodia through this Memorandum of Understanding," said AHK Representative in Vietnam, Myanmar, Cambodia and Laos. Over the past six months, our cooperation has grown stronger, and the signing of this Memorandum of Understanding is a milestone in our commitment to further promote business opportunities and investment.

He said that by sharing the best practices and valuable knowledge, we aim to have a business environment that attracts increased investment and facilitates trade between Germany and Cambodia. Our goals also include supporting German companies in ASEAN to effectively invest in Cambodia, contributing to the growth and prosperity of the subregion.

"We can not act alone in ASEAN and it is important that we work with our neighbors to help us achieve our common goals," said Martin Brisson, CEO of EuroCham. This mutually beneficial memorandum of understanding will allow us to understand the complexities of the Vietnamese market and hopefully attract cross-border businesses to Cambodia. AHK has a strong presence in Vietnam for almost a decade, and we can work together to build a strong business relationship between German and Cambodian companies, with the Kingdom of Cambodia's economy continuing to diversify and grow.