PHNOM PENH – For decades, a network of businesses, professionals, NGOs, and trade agreements has woven a connection between Cambodia and Italy.

Yet, compared to other European nations, there remains much untapped potential for Italian stakeholders to explore in Cambodia—and for Cambodians to discover in Italy. To delve deeper into this dynamic relationship, Cambodianess spoke with Dr. Riccardo Corrado, Vice-Chairman of the Italian Business Chamber Cambodia.

In the interview, he shared valuable insights into the opportunities, challenges, and thriving collaborations that link the two countries.

 Dr. Riccardo Corrado, Vice-Chairman of the Italian Business Chamber Cambodia. Photo provided.

Ky Chamna: As mentioned, the Italian Business Chamber Cambodia (ItaCham) was created back in 2017. What is the motivation behind the creation, and prior to 2017, how was the business cooperation landscape between Cambodia and Italy?

Riccardo Corrado: You are correct. The Italian Business Chamber Cambodia, a national chapter within EuroCham Cambodia, was created in 2017 under the name of Italian Cambodian Business Association (ICBA). The idea was to support and foster collaboration between Italy and Cambodia on several aspects, including business opportunities and trade.

Prior 2017, the relationship between Italy and Cambodia was growing but remained on modest levels. Italy was playing a role in Cambodia’s economic development through trade, investments, and collaboration in key sectors, with the most notable one being exchange of goods, with Italy mainly exporting machinery, and chemicals, and Cambodia exporting garments, footwear, and agricultural products to Italy.

The garment industry specifically, was a pivotal element, with Cambodian-made apparel and textiles that established a steady market in Italy, mostly due to the competitive production prices. The European Union’s Everything but Arms (EBA) initiative then fostered even further the collaboration between the two.

This preferential trade arrangement significantly enhanced Cambodia’s ability to export its goods to Italy, particularly garments and agricultural products, which were key drivers of its economy. Italian businesses, in turn, benefited from access to these products at competitive prices, creating a mutually beneficial dynamic.

Despite positive developments, the relationship between the two countries was still relatively limited, mostly when compared with other European partners, due to limited awareness of Cambodia’s market potential among Italian businesses and the relatively small size of the Cambodian economy.

Another contributing factor is Italy's relatively limited institutional presence in Cambodia. Currently, there is no Italian Embassy in the country, with diplomatic relations being managed through Thailand. Additionally, the Italian Trade Agency, responsible for promoting Italian trade and business globally, does not officially oversee activities in Cambodia.

Despite this, Italy and Cambodia share deep cultural and historical connections. Both nations take immense pride in their rich heritage, which has fostered meaningful collaboration. Italy has been a steadfast supporter of Cambodia’s efforts to preserve its cultural treasures.

The Italian government has funded key restoration projects, including work on the Pre Rup temple, the establishment of a Digital Imagery Department at the Photographic Laboratory for the Conservation of Angkor, and the restoration of Angkor Wat’s embankment. Italy has also provided direct and indirect support to the APSARA National Authority, the body responsible for managing and preserving the Angkor Archaeological Park.

Riccardo Corrado moderating Italian Space Day (Giornata Nazionale dello Spazio) at CamEd Business School. Photo provided.

Ky Chamna: After the creation of ItaCham in 2017 until now, have you seen an increase of Cambodian and Italian business cooperation? If so, how do you interpret the increase in business cooperation?

Riccardo Corrado: The collaboration between Italy and Cambodia initially flourished thanks to the presence of ICBA and a group of dedicated Italians committed to strengthening ties between the two nations. This growth was further propelled by the efforts of an organization specifically focused on promoting Italian brands and businesses in Cambodia.

Over the years, a range of initiatives blossomed across diverse sectors, driven by the active involvement of Italians in Cambodia. Their contributions spanned from NGOs and education to business, leaving a lasting impact on the bilateral relationship.

For example, let me mention Martina Cannetta who has been working actively with Il Nodo, a non-profit organization founded in Italy by a group of artists and designers, offering courses teaching Khmer youth how to make and design silver and other metallic jewellery.

Luisa Gentile, who through Professionals Doing Good, based in Siem Reap, aimed to bring together highly skilled professionals across the globe, to take collaborative action and create positive, sustainable change.

Carlo Figà Talamanca who founded, more than 10 years ago, Khmer Green Charcoal, an award-winning social enterprise that creates environmentally friendly char-briquettes.

Jennifer Morellato, who founded Smateria, a company that produces upcycled bags and accessories, mixing Cambodian craftsmanship with Italian design, and that specifically pays attention to Cambodian women workers.

Monica Costa, a marketing communications expert that always focused on promoting events that could benefit Cambodians.

Professionals in the education and arts sectors, such as Carlo Santoro, Alessandro Mangano, and Gabriele Faja, established the Italian Cambodian Arts Project to support the preservation of Cambodia's cultural heritage and its artistic development. Through collaboration with local artists, they have organized events, written reviews, and produced articles and commentaries on the region's evolving art scene. Their efforts have not only provided valuable artistic and educational resources but have also fostered cross-cultural exchanges between Italy and Cambodia.

All these activities, along with the contributions of other entrepreneurs—whom I apologize for not mentioning individually—exemplify Italy's presence in Cambodia. This presence is embodied by good, hardworking individuals leading businesses that support the country rather than exploit it.

This is an aspect that many might not fully recognize, as it often operates beneath the surface, but it truly reflects the character of Italians. It is also what connects Cambodians and Italians: a shared spirit of kindness and goodwill.

In recent years, ICBA experienced a period of inactivity, likely due to a lack of effective leadership. However, with the election of a new board in 2024, things have taken a turn for the better. The organization has rebranded from ICBA to ItaCham to signal a fresh start, and it is now driven by a dynamic board and dedicated members. With the support of EuroCham, ItaCham is focused on fostering a strong and positive relationship between Italy and Cambodia through meaningful initiatives in education, culture, arts, and business.

Dr. Riccardo Corrado (far left) attending the High Level Dialogue Italy-ASEAN, The Philippines. Photo provided.

Ky Chamna: When it comes to business cooperation, how do Italian businesses view the investment landscape in Cambodia? Which Cambodian sectors are the most interesting for Italian businesses?

Riccardo Corrado: That’s a great question. Let me reflect on the most recent High-Level Dialogue between Italy and ASEAN, which took place in Manila. Considering Cambodia’s current needs and offerings, I believe the greatest opportunities lie in culture and arts, tourism, fashion and design, architecture, and technology.

For instance, many in Cambodia may not be fully aware of the exceptional expertise Italian companies bring to fields such as agritech, biotechnology, food technology, robotics, space technology, and the pharmaceutical industry, to name just a few.

I myself have led the organization of Italian Space Day, in celebration of the Italian excellence in space technology and applications, because I believe there are so many opportunities of collaboration with Cambodia in this sector.

And I think the Satellite Department in the Ministry of Post and Telecommunications has noticed it and it is very open to it as well. Agriculture, and tourism are two other areas that represent pillars of the GDPs, and Italy can heavily support this.

Recently, we facilitated a partnership between an Italian university and a Cambodian university focused on Agritech Innovation Management, as well as Information Technology.

In the past, I arranged online internships for my students with TXT, an Italian conglomerate renowned for its expertise in various areas of information technology. Additionally, Italy excels in heavy machinery and robotics, making these fields another promising area of collaboration. Yes, these would be my starting points.

Caption: European Music Cultures – Second Night Recap: Song Recital. Photo provided.

Ky Chamna: What are the potentials of Cambodia that Italian businesses aim to delve into in the future? Are there any challenges for the Italian businesses functioning in Cambodia so far?

Riccardo Corrado: From ItaCham's perspective, I would encourage both Italian and Cambodian entrepreneurs to explore opportunities in the following industries: Information Technology (including cloud computing and cybersecurity), tourism, fashion and personal care, and heavy machinery.

On the Italian side, we are actively working to attract more businesses to enter the Cambodian market, aiming to support Cambodia's growth while sharing valuable expertise with the local community. I believe in Italians collaborating with Cambodians for mutual benefit, fostering a sustainable and long-lasting partnership—the Italian way.

Caption: Dr. Riccardo Corrado attending the AI and its geopolitical implications. Guest Lecture at AmCam in collaboration with the League of International Relations Affairs (LIRA). Photo provided.

Ky Chamna: What are some of the main Italian businesses functioning in Cambodia? How does their presence in Cambodia contribute to their own productivity and also Cambodia’s foreign investment landscape?

Riccardo Corrado: This is a challenging question because it requires me to choose among many deserving organizations. I believe numerous Italian companies are making significant contributions to Cambodia. If I must single out one, I would perhaps select Soundskool, founded by Gabriele Faja. Soundskool focuses on supporting music education in Cambodia, an area where there is still a significant need.

Gabriele Faja previously spearheaded the successful staging of the Madama Butterfly Opera in Cambodia a year ago. This production served as an excellent example of how Italian art can incorporate Khmer elements. For instance, in one scene, the traditional Japanese flower-throwing was replaced by a graceful display of Cambodian Apsara dancers tossing local flowers. This adaptation beautifully demonstrates the potential for cultural exchange and artistic collaboration between Italy and Cambodia.

Other notable examples include Smateria, Khmer Green Charcoal, and Il Nodo, all of which have commendable missions focused on supporting the Khmer people and environmental sustainability. I would also like to mention Savino del Bene, a leading logistics company. Logistics plays a crucial role in Cambodia's trade development, and its sector is improving thanks to the collaborative efforts of the Royal Government, major players like Savino del Bene, and organizations such as EuroCham Cambodia.

It's important to note that this is not an exhaustive list. Many other Italian companies are contributing significantly to Cambodia, and their valuable work is deeply appreciated.

Ky Chamna: What are some of the events that ItaCham has created to foster connection between Cambodia and Italy?

Riccardo Corrado: I love this question, and I will answer with some hints only. Let me explain. I want to keep some mystery behind this, because there are some very interesting projects that I am very proud of and that I think represent an essential contribution to enhance the connection between Italy and Cambodia, benefitting also the members.

And they will come soon. Music concerts, Khmer Royal Ballet performances crossed with Italian features, events for informing Cambodians on how to study in Italy (there are many opportunities), motorbike rides for enhancing good street behaviors and security, fashion shows, beauty products and wellness events, high technology dialogues, guest lectures, and art events. Enough. I gave you a peek, the rest will come soon!

Ky Chamna: What kind of Italian specialty that Cambodia should look or tap into to foster its own development in the foreseeable future? Would that be cuisine, engineering, telecommunication, or logistics?

Riccardo Corrado: I haven't yet addressed the potential for culinary collaboration. Italy can immediately offer valuable support to Cambodia in enhancing its tourism and hospitality sectors, particularly by promoting culinary heritage. Additionally, investments in information technology, space technology, robotics, and heavy machinery hold significant promise.

Some may believe that Cambodia is not yet ready for advancement in these areas. However, I believe the opposite. Precisely because these sectors are still developing presents a unique opportunity for successful investments. With limited competition, the potential return on investment is substantial.

To achieve significant gains, it's crucial to think strategically and act decisively. This is the primary function of ItaCham: to facilitate market entry for Italian investors in Cambodia and Cambodian investors in Italy. It's important to remember that Cambodia already possesses valuable assets and a strong foundation for future growth.

Ky Chamna: Are you satisfied with the current number of Italian investments in Cambodia or do you want to see much more investments in the future in regards to the circumstances at play?

Riccardo Corrado: No. Plain and simple. This is why we are working hard to move forward to where we want to be. But I think that with this board, with the team, ItaCham has enormous potential. And this potential can and will serve the growth of the relationship between Italy and Cambodia.

Do you know why I say this? The reason I emphasize this is that ItaCham is not solely focused on business transactions. We prioritize fostering a mutually beneficial relationship between Italy and Cambodia. Our approach is not about imposing Italian products or perspectives on Cambodia, nor is it about prioritizing Cambodian interests to the detriment of Italy. Such an approach would not be sustainable.

Instead, we aim to understand Cambodia's unique desires, needs, and preferences, and then leverage Italian excellence to meet those specific requirements. This approach should also work in reverse, identifying opportunities for Cambodian products and services to succeed in the Italian market.

I envision an ItaCham that becomes the preferred platform for businesses seeking to engage with both Italy and Cambodia. While we value Italian companies, we warmly welcome any entity that shares our mission of fostering strong and mutually beneficial ties between our two nations.

I think we are working very well so far and producing great results. I think many people have noticed it already. When you have smart people with a good heart, with a genuine desire, results show up and they are resounding.

I like to recall what someone told me recently in a conversation over coffee: “You Italians are not that many in Cambodia, mostly when compared to other countries, but indeed you are always involved in amazing projects”.

And please let me conclude with this phrase that I borrow from a campaign of the Italian Trade Agency, but that I believe perfectly summarizes Italians: “We are imagining future paths, while being inspired by our living past. We are builders, innovators, artists and scientists – everyday visionaries, original and refined, stubbornly authentic, with unmatched quality on our mind”.