Background
On 27 February 2023 at the Ministry of Commerce in Phnom Penh, Secretary of State Buon Sarakmony, representing Minister Pan Sorasak, held a working discussion with a delegation from the US-ASEAN Business Council (US-ABC). The delegation was led by Ambassador Michael Michalak, Senior Vice President and Regional Managing Director of US-ABC, and included representatives from the United States Embassy in Cambodia and several major US companies.
Participating companies included Abbott, ConocoPhillips, Ford, Mastercard, Attwood, RMA Group, Pfizer, Visa, and Vriens & Partners. The meeting focused on reviewing existing US commercial engagement in Cambodia and exploring opportunities to strengthen and expand investment, including in health-related activities and private hospitals.
Scope of Application
The discussion concerned current and prospective US private sector activities in Cambodia across multiple sectors, including manufacturing, automotive assembly, electronic payments, nutrition, and health services. It was conducted within the framework of the Ministry of Commerce’s mandate to promote trade and facilitate investment and business cooperation with international partners.
Key Provisions or Decisions
During the meeting, the head of the US-ASEAN Business Council delegation expressed appreciation to the Royal Government of Cambodia and the Ministry of Commerce for receiving the mission, noting Cambodia’s preparations for the SEA Games and the upcoming national elections. The delegation indicated that the Council would seek to strengthen existing business operations in Cambodia and attract additional investment, with particular attention to supporting human resource capacity and leadership development.
The Secretary of State of the Ministry of Commerce highlighted the positive trajectory of trade between Cambodia and the United States, noting continued year-on-year growth despite the COVID-19 pandemic. He referenced recent investments such as the construction of assembly plants by Ford and RMA in Pursat province, as well as the role of Visa and Mastercard in developing electronic payment services and contributing to financial literacy training in cooperation with the government and other organizations.
The Secretary of State also underscored the contribution of US nutrition companies working with Cambodian hospitals to promote and improve nutrition. In addition, he proposed that US stakeholders study the potential for further investment in Cambodia’s health sector, with a focus on private hospitals.
Implications for Investors, Businesses, or Compliance
The meeting signals continued engagement between the Ministry of Commerce and US private sector actors through the US-ASEAN Business Council, with an emphasis on expanding existing operations and exploring new investment in sectors such as health, manufacturing, and digital payments. The reference to recent factory and assembly investments, as well as the active presence of electronic payment service providers, indicates ongoing opportunities for US companies to participate in Cambodia’s evolving market.
While no new regulatory measures or binding commitments were announced, the discussion suggests that the Ministry of Commerce is open to increased US investment, including in private health facilities, and is prepared to work with US-ABC and company representatives to facilitate such initiatives within existing legal and policy frameworks.
Official Source
The information is based on an official communication from the Ministry of Commerce of Cambodia published on its verified Facebook page on 27 February 2023.
