The Royal Government of Cambodia is hosting the 40th and 41st ASEAN Summits and Related Summits in Phnom Penh, which is an opportunity to showcase the country’s recent developments and investment and business opportunity, said key insiders.

Themed “ASEAN ACT: Addressing Challenges Together”, this year’s ASEAN Summits and Related Summits are attended by the Heads of State/Government of ASEAN member countries and their dialogue partners.

The summits reflect the government’s efforts in putting the COVID-19 pandemic under control, leading to the resumption of all kinds of socio-economic activities, allowing foreign businesses, investors, and tourists to the country, said Mr. Lim Heng, Vice-President of Cambodia Chamber of Commerce.

“It is a good opportunity for Cambodia to showcase to the world its peace and stability, social development, especially socio-economic resumption, and investment and business opportunity and in so doing it attracts investors and businessmen and promotes tourism,” Mr. Lim Heng said on Nov. 11.

The summits aim to provide policy recommendations and other solutions to navigate the current perfect storm of challenges, driven by geopolitical competitions and tensions coupled with economic uncertainty, according to the Ministry of Foreign Affairs and International Cooperation’s statement.

Senior economist Dr. Ky Sereyvath, Director-General of the Institute of China Studies at the Royal Academy of Cambodia, said on Thursday that hosting the dual summit is to open the country's door to foreigners seeking understanding in investment and recent development.

“The world will see Cambodia grow and develop a lot and this will also open the door for Cambodia to attract investment,” he said.

The meeting, hosted by the rotating Chair Cambodia, will discuss solutions to boost economic growth and attract investment to the bloc that will benefit all of ASEAN, he said.

The 40th and 41st ASEAN Summits and Related Summits kicked off this morning with the focus on continuing community-building process, post-COVID-19 pandemic recovery, and regional and global security challenges, among others.

Speaking at the opening ceremony of the summits, Samdech Akka Moha Sena Padei Techo Hun Sen, Prime Minister of Cambodia and Chair of ASEAN, urged the 10-member ASEAN to focus on the common goal of mutual development for peace, stability and the betterment of the region.

Established in 1967, ASEAN groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.