PHNOM PENH: The Cambodia-ASEAN Business Summit opened yesterday in Phnom Penh, Cambodia, with Prime Minister Hun Manet presiding over the event. Organized by the Cambodia Chamber of Commerce and ASEAN business leaders, the summit aims to unlock the economic potential of the region.

Over two days, key players from ASEAN member states – business leaders, policymakers, and thought leaders – will discuss critical areas for regional growth.

Prime Minister Hun Manet emphasized the importance of ASEAN's connectivity and technological innovation for inclusive growth. He believes this summit, themed “Unleashing ASEAN's Potential: Technology, Sustainability, and Inclusive Growth,” will be a catalyst for unlocking the region's vast potential.

Neak Oknha Kit Meng, President of the Cambodian Chamber of Commerce, underscored the need for collaboration between the private sector and governments. He urged participants to “join hands to further invest in digitalization” and other key areas to propel ASEAN's development.

Digital transformation, according to Neak Oknha Kit Meng, is crucial for unlocking economic growth through efficiency, productivity, and innovation. He estimates that further digitalization could boost ASEAN's economy by US$1 trillion by 2030.

Cambodia, positioned at the heart of ASEAN, aspires to be a strategic link for trade and collaboration within the bloc, Meng emphasized.

Following the opening ceremony, several panel discussions will be held featuring keynote addresses by prominent Cambodian officials and experts. These include Deputy Prime Minister Sun Chanthol, Minister of Mines and Energy Keo Rottanak, and Minister of Industry, Science, Technology and Innovation Hem Vanndy.