In photo: DTI Secretary Cristina A. Roque during her speech at the Philippines-Cambodia Business Forum
In photo: DTI Secretary Cristina A. Roque during her speech at the Philippines-Cambodia Business Forum

Makati City, Philippines— “I am delighted to share that our country is undergoing a dynamic period of economic growth and transformation, and we believe Cambodia can be a key partner in this journey,” Department of Trade and Industry (DTI) Secretary Cristina A. Roque declared at the Philippines-Cambodia Business Forum.

“The Philippine government and its whole economic team, with me representing the DTI, have been constantly working to make sure that the playing field is leveled and that businesses can thrive fully,” she added.

During the forum, Secretary Roque emphasized that with a 5.6% growth in gross domestic product for 2024, the Philippines stands as a leader among Asia’s emerging economies. This growth is fueled by investments in sectors such as renewable energy, transport, housing, semiconductors, smart manufacturing, among others.

Facilitated by the Board of Investments (BOI) and the Philippine Economic Zone Authority, the country has also secured record-breaking investments. These are aligned with President Ferdinand R. Marcos Jr.’s “Bagong Pilipinas” economic agenda through strategic reforms such as the BOI Green Lane initiative and the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy Act.

These government reforms streamline business processes and incentivize high-value investments, with a focus on sustainable and inclusive development in sectors like electric vehicles, semiconductors, smart manufacturing, and renewable energy.

Apart from the economic gains, Secretary Roque highlighted the Philippines’ strengths in the health system, water infrastructure, renewable energy, and fiber infrastructure as key areas for potential collaboration with Cambodia. These partnerships can focus on developing healthcare and building sustainable communities.

The trade chief also identified opportunities for joint ventures between Filipino small and medium-sized enterprises and Cambodia’s processed food manufacturing sector. She also noted viable partnerships in green and innovative fibers and textiles for garments and footwear.

From L to R: Philippine Chamber of Commerce and Industry President Consul Enunina V. Mangio, Prime Minister of the Kingdom of Cambodia Samdech Moha Borvor Thipadei Hun Manet, DTI Secretary Cristina A. Roque, Cambodia Chamber of Commerce President and Chair of ASEAN Business Advisory Council Cambodia Neak Oknha Kith Meng
From L to R: Philippine Chamber of Commerce and Industry President Consul Enunina V. Mangio, Prime Minister of the Kingdom of Cambodia Samdech Moha Borvor Thipadei Hun Manet, DTI Secretary Cristina A. Roque, Cambodia Chamber of Commerce President and Chair of ASEAN Business Advisory Council Cambodia Neak Oknha Kith Meng

“We envision a future where our economies are deeply intertwined, leveraging each other’s strengths to achieve common prosperity. Through our combined expertise and resources, we can unlock exponential growth. This forum is a launchpad for those expeditions—a space to forge partnerships that will redefine the economic landscape of our region,” Secretary Roque added.

Looking ahead, Secretary Roque acknowledged Cambodia’s strong support and announced the Philippines’ chairmanship of the 2026 Association of Southeast Asian Nations (ASEAN). This chairmanship presents a crucial opportunity for both nations to advance a sustainable, secure, and prosperous ASEAN. ♦

Date of release: 14 February 2025

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