Philip­pine goods set for King­dom

The Phnom Penh Post - - BUSINESS - Hor Kim­say

PHILIP­PINE-made con­sumer goods are ex­pected to in­creas­ingly flow into the King­dom as a re­sult of ris­ing Cam­bo­dian pur­chas­ing power, an an­nounce­ment from the Philip­pine Depart­ment of For­eign Af­fairs on Tues­day said.

“With a young and dy­namic pop­u­la­tion and in­creas­ing pur­chas­ing power, the Cam­bo­dian mar­ket presents great op­por­tu­ni­ties for Philip­pine com­pa­nies seek­ing to grow their busi­ness pres­ence and mar­ket reach in the re­gion,” the state­ment said.

The an­nounce­ment came fol­low­ing a meet­ing be­tween CYS Pharma – t he largest im­porter and dis­trib­u­tor of Philip­pine food­stuffs in Cam­bo­dia – and the Philip­pine Am­bas­sador to Cam­bo­dia, Christo­pher Mon­tero.

Ris­ing pur­chas­ing power

CYS Pharma re­port­edly told Mon­tero that they plan to im­port more Philip­pine-made goods into the King­dom as a re­sult of im­proved liv­ing con­di­tions and ris­ing pur­chas­ing power in the Cam­bo­dian mar­ket.

Mon­tero said in a press re­lease t hat the Cam­bo­dian mar­ket of­fers great op­por­tu­ni­ties for Philip­pine com­pa­nies seek ing to grow t heir busi­ness pres­ence and mar­ket reach in t he re­gion.

“It is im­por­tant for the Filipino com­mu­nity in Cam­bo­dia to pa­tro­n­ise Philip­pine-made con­sumer goods as it will, in turn, en­cour­age their Cam­bo­dian friends to sam­ple qual­ity, yet af­ford­able prod­ucts,” he said.

Ap­prox imately 50 Philip­pine com­pa­nies are reg­is­tered in Cam­bo­dia, in­clud­ing Cebu Pa­cific, Li­way way Food In­dus­tries, Uni­lab, San Miguel Beer and Jewelmer, among oth­ers.

There are also more than 2,500 Filipinos work­ing i n the King­dom in a va­riet y of roles, in­clud­ing fac­tor y work­ers, teach­ers, technica l and sk illed work­ers, man­agers, en­gi­neers and ser v ice sta f f.

Cam­bo­dian econ­o­mist Dr Teng Delux told The Post on Wed­nes­day that in­creased im­port­ing of for­eign goods will ben­e­fit Cam­bo­dian con­sumers as it will in­crease the va­ri­ety of prod­ucts avail­able, low­er­ing their cost.

How­ever, Delux stressed that Cam­bo­dian en­trepreneurs should make ef forts to boost loca l pro­duc­tion too in or­der to a lso ta ke ad­van­tage of ris­ing Cam­bo­dian pur­chas­ing power.

“With grow­ing an­nual per capita in­come, Cam­bo­dia is now be­com­ing a mar­ket for Asean coun­tries to ex­pand their prod­ucts and mar­ket share.

“But we should find a way to col­lab­o­rate with for­eign com­pa­nies to set up pro­duc­tion in our countr y to pro­duce goods for loca l con­sump­tion. Do­ing this, we can re­duce im­ports of fin­ished prod­ucts and in­crease loca l pro­duc­tion to cre­ate more jobs for Cam­bo­di­ans,” he said.

The Philip­pine Depart­ment of For­eign Af­fairs says the Cam­bo­dian mar­ket presents great op­por­tu­ni­ties for Philip­pine com­pa­nies seek­ing to grow their busi­ness pres­ence and mar­ket reach in the re­gion.

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