Cambodia-ASEAN Business Summit 2025 Highlights ASEAN Connectivity: People, Infrastructure and Trade
The opening ceremony of the Cambodia-ASEAN Business Summit 2025 took place on March 6 at the Sofitel Phnom Penh Phokeethra, gathering government officials and business leaders of 26 countries, including ASEAN members and partners.
Held under the theme, “Accelerating ASEAN’s Connectivity: People, Infrastructure, and Trade”, the 2025 summit was organised as a platform to foster economic cooperation and development within the ASEAN region, as well as to showcase Cambodia’s growing role in regional economic integration.
“Today's summit is more than just a platform for discussions as it is also a catalyst for tangible progress,” said Prime Minister Hun Manet, delivering the keynote address at the summit’s opening ceremony.
The theme ‘Accelerating ASEAN Connectivity: People, Infrastructure and Trade’ perfectly embodies our collective aspirations for a deeply interconnected and prosperous ASEAN community. We gather here today to explore the critical role of enhanced connectivity in increasing sustainable and inclusive growth, a vision fully aligned with both ASEAN’s objectives and the strategic policies of the Royal Government of Cambodia.
The Prime Minister further highlighted ASEAN’s position as the fifth largest economy in the world, with a predicted growth rate of 4.8 per cent in 2025, which establishes the bloc as a “beacon of stability and prosperity with immense potential”.
“As a member state of ASEAN since 1999, Cambodia is an immensely potential market. Our economic foundation is built on decades of proven high economic growth, averaging over 7 per cent prior to the pandemic, and firmly on track to return to this momentum, with a projected growth of 6.3 per cent in 2025, and remaining between 6 to 7 per cent in the medium-term,” he added.
Other statistics he shared were:
- In 2024, Cambodia attracted around USD 6.9 billion in capital investment across 414 projects, representing a 40 per cent increase in capital and a substantial rise in project volume compared to 2023;
- Cambodia’s international trade figures show an increase of more than 16 per cent from USD 46.82 billion in 2023, to USD 54.74 billion in 2024
“I urge business leaders and investors to fully take advantage of today's summit and related events to interact, exchange ideas and explore collaboration opportunities to seize the immense potential within ASEAN’s thriving economy,” the Prime Minister concluded.
Promoting ASEAN Connectivity And Unity – ASEAN-BAC Initiatives
“In the midst of today’s noise, confusion and disruptions unfolding before us on the world stage, we are here today to send a strong message to everyone of shared spirit and strong commitment to build and nurture the ASEAN Economic Community,” remarked Neak Oknha Kith Meng, President of the Cambodia Chamber of Commerce and Chair of the ASEAN Business Advisory Council (BAC)-Cambodia.
Tan Sri Nazir Razak, Chair of ASEAN BAC 2025, similarly echoed these remarks stating:
When we think of the emerging world order of economic fragmentation, of disintegration of the U.S. rules-based system into one where might is right, we have to conclude that for small nations, like all of us in ASEAN, regional collaboration is crucial, if not existential, and that ASEAN is today more important than ever.
Kith Meng also noted that while intra-ASEAN trade is in need of faster growth, ASEAN still continues to outpace global trade growth with upside potential. He further underlined the ASEAN Power Grid as a top mind initiative for continued sustainable growth, and urged ASEAN leaders to make it a higher priority.
In his speech, Razak mentioned that ASEAN BAC has 12 key projects planned for 2025, and provided details on some of the proposals in progress:
- New classification of companies known as ASEAN Business Entities (ABE) – companies under this classification would receive freedoms and operational advantages, such as free movement of people, to realise ASEAN economies of scale in business operations.
- ASEAN IPO prospectus – an option for companies to raise funds from investors in any of the securities markets across ASEAN
- Digitalisation of cross-border trade – a new digital trade exchange platform is in development by ASEAN BAC-Malaysia, who will work with ASEAN BAC chapters on the platform’s interoperability within the various national platforms.
- ASEAN identity strengthening – ASEAN BAC-Malaysia is proposing the rebranding of the SEA Games to the ASEAN Games, and is also partnering with AirAsia to develop an ASEAN travel super app, poised to be a one-stop platform for tourists to travel across the region.
Leveraging ASEAN’s Promising Trajectory Through Cambodia
“What is the big picture for ASEAN?” asked Kith Meng, noting that the bloc has a projected combined GDP of ten trillion by 2030, which would then make it the fourth largest economy in the world. “The question is, how do we leverage on such a promising trajectory?”
Addressing international members of the audience, he stated:
If you are looking for a dynamic and increasingly integrated market, please consider Cambodia. If you are looking for a strategically advantageous location with rapidly improving infrastructures and a proactive business friendly government focused on reforming regulations and business processes, please consider Cambodia. If you are looking for one of the fastest growing economies in the region, averaging 7 per cent annual growth prior to the COVID pandemic, with a projected 6.3 per cent growth for 2025, I humbly present to you Cambodia.
“I therefore urge all participants to take advantage of this summit and engage actively to understand Cambodia better and vice versa, explore the vast opportunity that Cambodia and the ASEAN region presents, and work together to build a mutual benefit partnership,” he concluded.
