Philippine Airlines to boost Filipino trade in Cambodia

Jose Rodriguez

Long-awaited direct flights from the Philippines could raise Filipino investments, joining the ranks of listed companies such as Petron Corp and San Miguel in Cambodia

Long-awaited direct flights from the Philippines could raise Filipino investments, joining the ranks of listed companies such as Petron Corp and San Miguel in Cambodia

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Filipino investments in the field of agriculture, freight forwarding, logistics and trading are expected to increase exponentially with Philippine Airlines’ direct flights from Manila to Phnom Penh, says Philippine ambassador to Cambodia Christopher Montero.

“We look forward to intensified trade and investment between both countries. That is the logical consequence of the air connectivity because it allows for more Filipino companies to have a second look of Cambodia as a market to expand overseas,” he tells Capital Cambodia at Philippine Airlines’ inaugural flight on Tuesday.

Speculations are also rife that Jollibee Foods Corp, the owner of multinational Filipino fast food chain, would set up shop in Cambodia soon.

Presently, some 50 Filipino companies operate in the Kingdom. Among the prominent ones are Philippines-listed companies San Miguel Corp and its majority-owned oil and gas unit Petron Corp, and Cebu Air Inc which operates low-cost carrier Cebu Pacific Pacific, pharmaceutical manufacturer Unilab (Philippines) Inc, and Oishi snack maker Liwayway Holdings Co Ltd.

The embassy anticipates growing enquiries from companies and is prepared to facilitate the entry of its nation’s investors.

“Having said that, we don’t think that investments would grow immediately but we foresee companies approaching us in the next few months,” Montero adds.

The embassy has been working to organise the Philippines Business Network in anticipation of increased investments in Cambodia.

The purpose of the network is to provide a platform for Philippine executives and business owners to interact and collaborate, exchange information and share best practices in business in Cambodia.

It would also serve as an active partner of the embassy in the promotion of Philippines’ economic interests including the welfare and good image of Filipinos in Cambodia.

“We believe the network would provide market insights for our investors in Cambodia. This comprises issues and concerns that might adversely affect the interests of Filipino companies or professionals,” Montero says.

Most investors here cite Cambodia’s economic potential and business-friendly environment as some of the reasons relating to their relocation or expansion in the Kingdom.

Previously, the absence of direct flights between Manila and Phnom Penh posed a slight hindrance to trade between the countries.

According to observers, Filipino investors and travellers to Cambodia often experienced hassles due to stopovers and change of planes.

As a result, trade and investments between the Philippines and Cambodia, who are both members of the Association of Southeast Asian Nations, have been negligible at best.

 

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