Dossier: Phnom Penh & ASEAN, an Economic Summit with a Female Perspective – Entrepreneurship, Sustainability, and Attractivenes

AWEN Awards and Pinnacle Entrepreneurs Forum, Phnom Penh 2025

On November 21, 2025, the Sofitel Phnom Penh Phokeethra established itself as a real laboratory of the regional new economy by hosting the AWEN Awards and the Pinnacle Entrepreneurs Forum, putting women’s entrepreneurship at the heart of strategies for growth, economic diplomacy, and regional integration within ASEAN.

Organized under the auspices of the ASEAN Women Entrepreneurs Network (AWEN) and the Pinnacle Entrepreneurs Forum (PEF), the event brought together government officials, business leaders, investors, diplomats, and international organizations with a common ambition: to transform the role of women entrepreneurs in regional and global value chains. The AWEN Awards celebrated women who embody this transformation, while the Forum served as a strategic platform for the intersection of capital, ideas, innovation, and economic diplomacy in service of a more integrated and inclusive ASEAN.

Government Vision: Entrepreneurship, Sustainability, and Attractiveness

Representing Prime Minister Samdech Moha Bovor Thipadei Hun Manet, His Excellency Sun Chanthol, Deputy Prime Minister and First Vice President of the Council for the Development of Cambodia, reiterated that entrepreneurship is now one of the engines for a future that is both more sustainable and more equitable.

He emphasized that, in an ASEAN increasingly integrated into the global economy, entrepreneurs—and especially women—are called upon to design solutions that reconcile economic and social impact, building a logic of shared growth.

The Deputy Prime Minister stressed the need to scale up platforms like the Pinnacle Entrepreneurs Forum to amplify ASEAN’s entrepreneurial influence on a global scale, notably through investments in human capital, skills, and cross-border networks. He also offered a clear-eyed diagnosis of persistent obstacles: access to financing, the scarcity of quality mentorship, and weak structured networks remain major barriers for entrepreneurs, particularly for women leaders of SMEs.

His Excellency Sun Chanthol, Deputy Prime Minister and First Vice President of the Council for the Development of Cambodia

Cambodia: An Economy of Opportunities at the Heart of ASEAN

The speech was also an opportunity to reaffirm Cambodia’s position as one of the fastest-growing economies in ASEAN, driven by manufacturing, agriculture, and tourism, but now also engaged in technological upgrading. The Council for the Development of Cambodia has already approved more than 600 so-called "quality" investment projects, signaling a growing climate of trust and the country’s confirmed role as a springboard for regional and international businesses.

The Deputy Prime Minister highlighted a rapidly modernizing business environment, a pioneering bilateral trade agreement with the United States, and an increasingly welcoming entrepreneurial ecosystem for both local founders and foreign investors. The rise of the digital economy—fintech, digital finance, renewable energy—positions Cambodia as an emerging hub for future industries, in line with ASEAN’s regional ambitions.

AWEN: A Structuring Lever for Women’s Entrepreneurship

In this context, AWEN’s role was praised as essential for connecting women entrepreneurs, facilitating the flow of resources, opportunities, and knowledge, and strengthening the female voice in the regional economic architecture. However, the Deputy Prime Minister called for "doing more" to guarantee women real access to markets, financing, technology, and mentorship—conditions essential to seize global opportunities.

He outlined four reinforcement pillars: deepening cross-border ties through platforms like PEF; broadening access to funding and support mechanisms; promoting inclusive innovation driven by technology, as a great equalizer; and encouraging sustainable, impact-oriented companies in sectors such as clean energy, responsible agriculture, and social services.

A Diplomacy of Economic Collaboration

In line with this vision, Lct. Dr. Eng Lykuong, co-founder and president of the Pinnacle Entrepreneurs Forum, as well as president of AWEN and CamWEN, presented the Forum not as an annual meeting, but as a working ecosystem where collaboration outweighs competition. The year’s theme—“The World Prospers When We Collaborate”—set the tone for a new economic diplomacy based on co-creation of value, resource sharing, and the pursuit of shared prosperity.

She described a structuring triptych for ASEAN’s future: business as a driver of impact, digital technology as an accelerating current, and innovation as a strategic compass to address complex challenges. PEF was thus presented as a vibrant workshop where panels, business meetings, and startup showcases are not just formal exercises but the opening chapters of future regional joint ventures.

Expanding ASEAN and Affirming Women Leaders

Madam Lykuong emphasized the need to place women entrepreneurs at the forefront, recognizing their still underestimated role as engines of growth and economic transformation. Highlighting their successes through the AWEN Awards reflects the region’s commitment to gender equality and inclusive economic development.

The inclusion of Timor-Leste as the 11th AWEN member was presented as evidence of a growing regional network poised to become a more unified bloc facing global competition. Concluding her remarks, she reminded the audience that the world is watching ASEAN’s ability to shift from a collection of disparate markets to a unified force of innovation and shared prosperity, with collaboration as the central mechanism driving this change.

PEF, an Emerging “Davos for Doers”

PEF co-founder and event director Mr. Thomith Chin offered a geopolitical perspective on economic collaboration, in contrast to the fragmentation and isolation prevailing in the current international order. The Forum asserts itself as a tangible counter-narrative: facing cross-border challenges such as climate change, inequality, or digital threats, only structured cooperation among entrepreneurs, investors, and decision-makers can produce sustainable solutions.

He positioned PEF as a coalition of actors who come not only to “network,” but to shape the economy of tomorrow through real partnerships and commitments. The clear ambition: to make PEF the “Davos for doers,” a global hub where capital, innovation, and action converge to transform ideas into projects and projects into measurable results.

BRICS and ASEAN: Convergence of Women’s Alliances

Mrs. Anna Nesterova, president of the Russian chapter of the BRICS Women’s Business Alliance, brought an expanded geo-economic dimension, linking ASEAN to a network already extending to nine BRICS countries. She explained that women’s economic participation is a pillar of long-term inclusive growth and that the BRICS Women’s Alliance constitutes a unique structure, covering key sectors such as tourism, creative industries, manufacturing, agriculture, finance, health, IT, and science.

She outlined the BRICS Digital Platform, which connects more than 3,000 women entrepreneurs from 60 countries, offering direct access to a global network for exchanges, collaborations, and business matchmaking—from which Cambodia and its partners can fully benefit. The Alliance stands out for its pragmatic approach: forums, female startup competitions (1,700 applications in 2025), and youth mentorship programs are designed to “gather not to discuss, but to act.”

A Map of Opportunities for Cambodia

Mrs. Nesterova sketched a broad spectrum of potential areas for cooperation for Cambodia: financial literacy, health, creative industries, tourism, agriculture, new technologies, and resilience projects aimed at strengthening business competitiveness. With regional offices already active in Africa, Eurasia, and Central Asia, the Alliance is ready to further expand its presence—including in Cambodia—to provide women entrepreneurs a one-stop gateway to global markets.

This outreach marks a strategic convergence between ASEAN’s regional initiatives and the global platforms of the BRICS, crafting a feminine economic diplomacy that transcends traditional blocs to build project alliances.​

Capital and Courage: Financing the Frontier of Growth

The panel “The Next Frontier – Where Capital Meets Courage in Emerging Markets” examined the relationship between the discipline of investors—capital—and the resilience of entrepreneurs—courage—in the growth dynamics of Southeast Asian frontier markets. Speakers highlighted ASEAN’s comparative advantage for BRICS, American, and European investors, focusing on high-potential sectors that remain under-publicized beyond the fintech and digital lens.

The debate addressed the paradox of “de-risking”: how to reconcile investors' risk-reduction requirements with the inherently risky nature of entrepreneurship in emerging markets. Mentorship, networks, education, and rule of law were identified as critical—and often underfunded—components of any resilient entrepreneurial ecosystem.

A Bridge Between BRICS, European Union, and United States

Panelists outlined practical avenues for collaboration linking investors, entrepreneurs, and public officials across the BRICS, European, and American spheres. The goal is to strengthen ASEAN’s position in the global economy through shared platforms, regulatory alignments, and investment partnerships focused on long-term, high-impact outcomes.

Industry 4.0 and National Strategy

His Excellency Hem Vanndy, Minister of Industry, Science, Technology, and Innovation, embedded these dynamics into Cambodia’s industrial and technological trajectory. He emphasized the country’s regional momentum and the increasing interest shown by ASEAN neighbors and the expanding market opportunities.The minister stressed the importance of adopting emerging technologies—artificial intelligence, automation, Industry 4.0 solutions—to build a new generation of enterprises and future-oriented sectors. He noted that sustainable growth demands clear strategies, assumed accountability, and strong leadership in both public and private spheres.

Public-Private Partnership and Value-Chain Diversification

The Cambodian government affirmed its commitment to close partnership with the private sector, via business- and innovation-friendly policies. The minister highlighted the youthfulness, adaptability, and dynamism of Cambodia’s workforce as central assets for attracting investment into emerging industries.

At the same time, Cambodia is reinforcing its role in regional supply chain diversification—positioning itself as a reliable partner in global production networks. His final call to investors, innovators, and industrial leaders to “bring capital, ideas, and technologies” to Cambodia aligns with an openly pursued economic strategy.

ASEAN: A Borderless Market

Mrs. Theam Romny, Executive Vice President and Chief of External Affairs Officer – Regional Manager at ABA Bank, expanded on a macro-regional vision of ASEAN as a borderless economic space. She described ASEAN not as a mosaic of markets, but as a digitally interconnected region of 680 million consumers with significant cross-border expansion potential.

She underscored Cambodia’s strategic position in this regional architecture, combining geographic advantage and rapid adoption of digital technologies. Supported by major trade frameworks such as RCEP, Cambodia’s economy is strengthening its role as a digital connector within ASEAN.

From Low-Cost to Value Economy

Mrs. Romny insisted that Cambodia can no longer be reduced to a simple low-wage country. She highlighted the rapid growth of high value-added sectors—electronics, pharmaceuticals, fintech, artificial intelligence—which show the transition toward a more sophisticated economy.

Financially, she pointed out that Cambodia is not just catching up: it is setting new fintech standards, with innovations like KHQR, integrated mobile payment ecosystems, and advanced banking apps like ABA’s. She argued that where data circulates smoothly and securely, capital naturally follows; thus, the country is ready to welcome tomorrow’s investment and innovation.

From Pitch to Portfolio: The Role of “Smart Capital”

The session “From Pitch to Portfolio – How Smart Capital is Transforming ASEAN Startups” explored the concept of smart capital—financing combined with strategic support, mentoring, and ecosystem backing. Panelists highlighted strong growth opportunities in Climate Tech, AgriTech, EdTech, and in still-under-recognized markets such as Cambodia, Laos, and the Philippines.

They emphasized the importance of non-financial indicators when evaluating founders: learning capacity, resilience, alignment with corporate innovation roadmaps, and strong governance. Concrete examples illustrated the added value of smart capital: access to networks, alignment with public policies, cross-border collaboration, and new market entry strategies.

Navigating a Tightened Funding Landscape

Discussions also addressed global economic headwinds and the speed of technological cycles—AI, blockchain, new digital tools—that redefine investor priorities. Practical advice was given to ASEAN startups facing more demanding funding environments.

Speakers concluded that by 2026, the winning startups will be those demonstrating perseverance, strategic alignment, credible partnerships, and the capacity to show tangible value creation in a highly competitive environment.

Digital Health and Social Innovation

Her Excellency Dr. Or Vandine, Secretary of State at the Ministry of Health, shifted the focus to one of the most sensitive fields of innovation: digital health. She advocated building a comprehensive, data-driven digital health ecosystem to strengthen the overall performance of Cambodia’s national health system.

Cross-sector collaboration and innovation were identified as catalysts for accelerating the digital transformation of health in Cambodia and more broadly in ASEAN. The country is committed to digitizing its health system to promote inclusion, accessibility, and improved health outcomes for all. des résultats sanitaires pour tous.​

Telehealth, AI, and New Infrastructure

Dr. Or Vandine detailed priorities for the next phase of health innovation: developing telemedicine for remote areas, using AI for prevention, investing in cloud infrastructure for secure data, and strengthening digital supply chains. She also emphasized support for health startups and innovation hubs to foster new technological solutions for patients.

AWEN & SheTrades: An Impact Partnership

Mr. Tanvir Ahmad, Senior Adviser at ITC for SheTrades Asia Hubs, highlighted the partnership between AWEN and the International Trade Centre’s SheTrades initiative. He praised Cambodia’s leadership and Laos’ transition in the AWEN presidency, stressing SheTrades’ mission to deliver concrete support for women entrepreneurs.

Training, market access, and structured growth trajectories were presented as three pillars of this support, far from mere declarations. Interregional exchanges—in Geneva, Mongolia, and with other SheTrades hubs in Indonesia, the Philippines, and Vietnam—give AWEN members a chance to understand issues like finance, digital tools, and supply chains.

Data, Public Policy, and AWEN’s Future

Mr. Ahmad also noted the impact of commercial missions linking UK buyers with women-led enterprises, as well as the production of export guides and the improvement of public policies in Southeast Asia based on SheTrades Outlook data. He announced an AWEN institutional capacity-building workshop planned for January 2026, aimed at governance and building stronger internal systems.

The ITC reaffirmed its commitment to supporting AWEN in its next development phase, thus consolidating a key pillar of feminine economic diplomacy in Asia.

Trade, SMEs, and Transformation Through Entrepreneurship

Finally, Her Excellency Cham Nimul, Minister of Commerce, repositioned the PEF in the wider commercial strategy of Cambodia and the region. She described the Forum as a transformative movement that aims to become ASEAN’s main platform for visionary entrepreneurs, beyond the usual conference format.

She stressed the centrality of regional cooperation to boost shared growth, innovation, and entrepreneurial transformation, underlining the strategic role of ASEAN as an economic bloc integrating its internal markets. The minister argued that future entrepreneurship must be impact-oriented: building businesses that transform communities and reinforce national economic resilience.

Women and SMEs at the Heart of the Productive Fabric

Her Excellency Cham Nimul reminded that SMEs employ more than 476,000 workers in Cambodia, with women as a major economic driver, while still facing structural barriers—resources, markets, opportunities. She reiterated the government’s commitment to deploying targeted support policies, while recognizing that public action alone is not sufficient.

The minister called for the joint mobilization of the private sector, investors, and regional partners to help women entrepreneurs reach the next level. Only then can ASEAN fully leverage its female human capital and transform potential into inclusive and sustainable growth.

Thus, the AWEN Awards and Pinnacle Entrepreneurs Forum 2025 have done much more than celebrate individual achievements: they have outlined the contours of a new ASEAN economic diplomacy, where female leadership, innovation, and regional cooperation become essential levers for competitiveness and shared prosperity.

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