Logo of Phnom Penh Post newspaper Phnom Penh Post - Philippine goods set for Kingdom

Philippine goods set for Kingdom

Content image - Phnom Penh Post
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. INQUIRER (THE PHILIPPINES)

Philippine goods set for Kingdom

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 – the 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 that the Cambodian market offers great opportunities for Philippine companies seeking to grow their business presence and market reach in the 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.

Approximately 50 Philippine companies are registered in Cambodia, including Cebu Pacific, Liwayway Food Industries, Unilab, San Miguel Beer and Jewelmer, among others.

There are also more than 2,500 Filipinos working in the Kingdom in a variety of roles, including factory workers, teachers, technical and skilled workers, managers, engineers and service staff.

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 efforts to boost local production too in order to also take 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 country to produce goods for local consumption. Doing this, we can reduce imports of finished products and increase local production to create more jobs for Cambodians,” he said.

MOST VIEWED

  • Phnom Penh authorities ban march for Human Rights Day

    Phnom Penh authorities have banned a planned march as local NGOs and workers’ unions gear up to celebrate the 70th anniversary of the signing of the Universal Declaration of Human Rights on Monday, with a youth group leader saying they would march nonetheless. The UN

  • Government deports 235 Chinese scammers

    THE Immigration Department of the Ministry of Interior on Thursday deported 235 Chinese nationals, 35 of whom were female, via the Phnom Penh International Airport for their part in a Voice over Internet Protocol (VoIP) online money extortion scam. The deportees were arrested on November 26 over the

  • Phnom Penh’s Jet’s Container Night Market shuts down

    The famous Jet’s Container Night Market in central Phnom Penh has shut down due to the high cost of the land rental, company representatives claim. Jet’s Container Night Market is the largest such market in Phnom Penh. It operated for just over two

  • Hun Sen rejects ‘rift’ rumours spread by ‘stupid gangsters’

    Prime Minister Hun Sen on Wednesday denied a “rift” among top leaders of the Cambodian People’s Party (CPP), and rejected claims that Senate president Say Chhum and Interior Minister Sar Kheng were set to be removed from their positions as rumours spread by “gangsters”.