The Philippines is open for business and eager to welcome Cambodian investors, President Ferdinand R. Marcos Jr. declared during a joint press conference with visiting Cambodian Prime Minister Hun Manet at Malacañang on Tuesday.
President Marcos congratulated Prime Minister Manet on the resounding success of Monday’s business forum, which provided a platform for meaningful networking between the private sectors of both nations. The event fostered discussions on potential collaborations and deepened mutual understanding of each country’s business environment and investment incentives.
“I am confident that through this engagement, we will see more Filipinos investing in Cambodia and more Cambodians investing in the Philippines,” President Marcos stated.
“To our friends from Cambodia, I wish to reiterate that the Philippines is open for business, and we welcome the opportunity to partner with you in achieving greater commercial success,” he added.
Enhancing Trade and Investment Cooperation
During their discussions, both leaders expressed support for formal cooperation on avoiding double taxation, a key step in facilitating smoother investment flows between the two countries. They also underscored the importance of sharing best practices in competition law, recognizing its role in promoting a fair and dynamic business environment.
President Marcos emphasized Cambodia’s strategic role in ensuring food security and highlighted the value of ongoing collaboration in technical vocational education and training (TVET).
Both nations also reaffirmed their commitment to cultural heritage preservation by renewing their agreement on preventing the looting and trafficking of cultural properties. Additionally, they welcomed formal partnerships in Information and Communications Technology (ICT) and government digital transformation.
Strengthening Diplomatic Ties
The Philippines and Cambodia established diplomatic relations in 1957, fostering a friendship that has strengthened over the decades through bilateral cooperation and regional collaboration within the Association of Southeast Asian Nations (ASEAN).
Looking ahead, the two nations will celebrate the 70th anniversary of their diplomatic ties in 2027, marking a milestone in their enduring partnership.
