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Angkor Times
Angkor TimesExperienced
Asked: December 13, 2021

Is Cambodia’s Bakong the future of digital currencies?

The National Bank of Cambodia (NBC) developed the Bakong system along with Japanese technology company Soramitsu using the open source Hyperledger Iroha blockchain framework. The flexibility of using a blockchain for digital asset management allowed NBC and Soramitsu ...Read more

The National Bank of Cambodia (NBC) developed the Bakong system along with Japanese technology company Soramitsu using the open source Hyperledger Iroha blockchain framework. The flexibility of using a blockchain for digital asset management allowed NBC and Soramitsu to implement fiat-backed digital representations of the Khmer riel and US dollar that would be accessible for wholesale interbank transactions as well as everyday retail payments.

The core of the system is run by NBC, which delegates the running of ‘payment gateways’ to financial institutions. End users, such mobile app users, connect to the system via these payment gateways. All the transactions are stored as a chronological chain of records, also known as a blockchain, which is replicated across multiple servers. Unlike most commonly used permissionless blockchains, such as Bitcoin, the Hyperledger Iroha-based Bakong system does not rely on mining for finalizing transactions, but rather uses a voting method, wherein a supermajority of servers that maintain the blockchain vote to finalize transactions that are arranged in blocks.

The NBC Bakong core system is geographically distributed and contains all transactions, but no personally identifiable information (PII). Rather, all end-users’ PII is stored by the financial institutions that join the system. In turn, financial institutions only receive transactions on which their users are counterparties, and do not have access to all transactional data in the system. It is this separation of data that helps to preserve the privacy of users, while still allowing for the central bank to view all transactional activity and consider these data to improve their monetary policy. Thanks to the inherent security features of the blockchain and the associated ledger copies, the risks of fraud, hardware failure, tampering, and, most importantly, cyberattacks are mitigated.

What are the benefits?

Cost reduction and user inclusivity are the most important benefits of this system. By unifying banking processes under Bakong, the costs and fees associated with interbank transactions are reduced to a minimum and transactions by end users are currently free. As long as banks and financial services continue to carry out their due diligence through the implementation of ‘know your customer’ (KYC) and other security measures, financial crimes can be avoided. Indeed, the permanent digital record of all transactions makes payment systems like Bakong easily auditable and thus unsuitable for criminal activity.

Bakong also boosts user inclusivity by helping to integrate people into the financial system. Easy-to-use digital tools and nearly nonexistent transaction costs incentivize users to take part in and contribute to the system. Payments become as simple as scanning a QR code, and – depending on the amount transacted – user verification can be done through an SMS (although larger amounts would require ID verification by a financial institution).

Bakong system

Bakong system

More info, visit: World Economic Forum

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Angkor Times
Angkor TimesExperienced
Asked: May 28, 2024In: Money

What strategies did the Minister of Commerce propose to enhance the export of Cambodian products?

Promoting Cambodian Exports: Key Recommendations from the Minister of Commerce On May 27, 2024, Cham Nimul, Cambodia’s Minister of Commerce, presided over a seminar titled “Beyond Borders: Bringing Cambodian Products to Global Markets through Alibaba.com.” Read more

Promoting Cambodian Exports: Key Recommendations from the Minister of Commerce

On May 27, 2024, Cham Nimul, Cambodia’s Minister of Commerce, presided over a seminar titled “Beyond Borders: Bringing Cambodian Products to Global Markets through Alibaba.com.”

Ministry of Commerce strategy to promote the export of Cambodian products
Ministry of Commerce strategy to promote the export of Cambodian products

This event, attended by various national and international representatives, emphasized strategies to enhance the export of Cambodian products using Alibaba.com.

Cham Nimul, Minister of Commerce
Cham Nimul, Minister of Commerce

“To date, about 10 Cambodian enterprises have put up their products such as peppercorns, mango jam, and bird nest for sale on the e-commerce platform,” she told some 320 participants.

“I’d like to encourage small and medium-sized enterprises to market their products on the platform to help boost the exports of Cambodian products to China and the global market,” she added.

Cham Nimul, Minister of Commerce

The Minister proposed five key recommendations to facilitate this goal:

  1. Guidelines and Training: The Minister emphasized the importance of creating easy-to-understand guidelines and short instructional videos on how to use Alibaba.com. These resources aim to help Cambodian small and medium enterprises (SMEs) navigate the platform efficiently.
  2. Outreach and Coordination: To ensure businesses with potential export products can meet international standards and requirements, the Minister suggested widespread outreach and coordinated efforts. This includes providing support to businesses in understanding and leveraging e-commerce mechanisms.
  3. Market Analysis and Preparation: Partnering with Alibaba.com, the Ministry plans to continually monitor and analyze market demand. This initiative aims to keep Cambodian businesses informed about current and future customer needs, enabling them to supply products that meet global market demands.
  4. Ongoing Training and Technical Support: The Minister called for continuous dissemination of training programs and technical advice. These efforts are intended to mobilize Cambodian businesses, making them more competitive in the international market.
  5. Collaborative Efforts: The Minister stressed the need for close cooperation among ministries, institutions, and both local and international private sectors. This collaborative approach is crucial to promote trade and business activities within Cambodia.

In addition to these recommendations, the Minister encouraged Cambodian companies and SMEs to actively participate in e-commerce platforms like Alibaba.com. By doing so, they can enhance the global competitiveness of Cambodian products, ensuring they meet international quality standards and gain broader market recognition.

Enhancing E-Commerce Participation

The Minister’s recommendations highlight the crucial role of e-commerce in expanding Cambodia’s export potential. By leveraging Alibaba.com, Cambodian businesses can access a vast global market, increasing their product visibility and competitiveness.

  1. Creating Accessible Training Resources: The proposed guidelines and videos will demystify the process of using Alibaba.com, making it accessible even to smaller enterprises with limited technical expertise. This step is vital for inclusivity, ensuring that all businesses, regardless of size, can benefit from e-commerce.
  2. Facilitating Business Compliance: Coordinated outreach efforts will help businesses understand and meet the necessary standards for international trade. This support is essential for building a robust export framework, enabling Cambodian products to thrive in competitive global markets.
  3. Market-Driven Production: Regular market analysis will inform businesses about shifting consumer preferences and emerging trends. This proactive approach ensures that Cambodian products remain relevant and in demand, fostering sustainable export growth.
  4. Sustained Business Development: Continuous training and technical support will build a knowledgeable business community capable of navigating complex export processes. This ongoing education is crucial for long-term success and adaptation to market changes.
  5. Strengthening Partnerships: Collaboration among various stakeholders will create a supportive ecosystem for export activities. By working together, ministries, institutions, and private sectors can drive significant improvements in trade and business practices.

Encouraging Business Participation

To maximize the benefits of these recommendations, the Minister urged Cambodian businesses to actively engage with e-commerce platforms. The use of the Cambodia Trade Free Market and exploring opportunities with Alibaba.com were particularly highlighted.

  1. Expanding Market Reach: By participating in e-commerce, businesses can reach a global audience, significantly expanding their market potential. This increased visibility is crucial for growing export volumes and enhancing brand recognition.
  2. Promoting Cambodian Products: Active participation in platforms like Alibaba.com will showcase the quality and diversity of Cambodian products. This exposure is essential for building a positive international reputation and driving demand.
  3. Leveraging E-Commerce Benefits: E-commerce platforms offer numerous advantages, including lower entry barriers, reduced marketing costs, and access to a vast customer base. Cambodian businesses can leverage these benefits to scale their operations and increase profitability.

Conclusion

The Minister of Commerce’s recommendations provide a comprehensive strategy for promoting the export of Cambodian products. By focusing on training, market analysis, and collaboration, these measures aim to enhance the global competitiveness of Cambodian businesses. The emphasis on e-commerce, particularly through platforms like Alibaba.com, presents a significant opportunity for growth. Cambodian companies and SMEs are encouraged to embrace these recommendations, leveraging e-commerce to expand their market reach and build a strong international presence.

We invite you to share your thoughts on the potential of e-commerce for Cambodian businesses. How can SMEs better prepare for global markets? What additional support do they need to thrive in international trade? Share your opinions and insights in the comments below.

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Alibaba.com and Cambodian productsBoosting Cambodian exportsCambodian business growthCambodian export market trendsCambodian export strategiesCambodian products global marketE-commerce for Cambodian SMEsEnhancing Cambodian exportsExport guidelines CambodiaExport promotion CambodiaGlobal competitiveness CambodiaInternational trade CambodiaMarket analysis for Cambodian exportsMinister of Commerce recommendationsTraining for Cambodian exporters
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Angkor Times
Angkor TimesExperienced
Asked: January 3, 2022

Why is Cambodia so special?

Why is Cambodia so special? Cambodia is a small country, but it offers everything.  Why is Cambodia so special? Cambodia is a country in Southeast Asia, and it is surrounded by Thailand, Laos, Vietnam, and the the Gulf of Thailand. It is ...Read more

Why is Cambodia so special? Cambodia is a small country, but it offers everything. 

Why is Cambodia so special?

Cambodia is a country in Southeast Asia, and it is surrounded by Thailand, Laos, Vietnam, and the the Gulf of Thailand. It is one of the most diverse countries in the world. This article will explore some of the amazing facts about Cambodia. In this article, you’ll find out why Cambodia’s culture is so unique and what makes it a special place to visit. 

Why is Cambodia so special?

Why is Cambodia so special?

Despite its rich culture and long history, most people know very little about Cambodia. That’s because a lot of the country is still covered by a veil of mystery.

The Cambodian people have preserved their unique culture and traditions despite the significant economic and political changes that have swept over the country. The Cambodian government has been working hard to improve living standards for its citizens in recent years as well as maintain a positive image on the international stage.

However, this struggle to preserve their culture has come at great cost to some groups of citizens who’ve had to contend with political upheaval and ethnic tensions.

Cambodia is also home to the world’s largest freshwater reservoir: Tonle Sap Lake. This beautiful body of water holds more than 10 cubic kilometers worth of freshwater!

Special Facts About Cambodia

Cambodia’s culture is one of its most interesting aspects. It is a complex blend of different religions and traditions, including Buddhism and Hinduism. Therefore, Cambodians are often found practicing more than one religion at once.

Though the country has seen dark times in the past, it is now turning out to be a very safe place to visit with lots of opportunities for both locals and tourists alike!

Cambodia is also home to over 2,000 temples and pagodas with some as old as 1,000 years old!

Business Opportunity in Cambodia

Cambodia is an emerging economy and a business opportunity.

This blog post will explore the opportunities that Cambodia has to offer as well as some of the challenges it faces. It will also provide insight on what you can do to help make this country better for tourists.

Cambodia is a country which has so much potential for tourism, but it’s sometimes overlooked due to other destinations like Thailand, Vietnam, or Laos. This article will tell you why Cambodia is worth a visit and what makes it different from these popular tourist destinations. I hope that after reading this article, you’ll see why Cambodia deserves more attention than it gets!

Living Cost in Cambodia

The cost of living in Cambodia is quite low, especially if you compare it to other countries. It’s not the cheapest country to live in, but it’s still a bargain when compared to other countries.

In general, living in Cambodia is much cheaper than living in New York City or London. However, this does depend on where you choose to live and how much you’re willing to spend each month.

Cambodia has some great places for tourists to visit from natural attractions like the Angkor Wat temples and waterfalls to cultural experiences like dance performances or traditional music. If you do enjoy these types of activities, you’ll find that they’re relatively inexpensive as well!

The most expensive part of the cost of living in Cambodia comes with education. Tuition rates are higher than average around the country and there are no scholarships available for international students. This makes it difficult for foreigners who have limited resources and cannot afford an education in Cambodia.

This article will give you an idea of what a typical day might be like if you were considering moving there full-time or staying just a few months as a tourist!

Food in Cambodia

Cambodia is a country surrounded by natural wonders, and it’s rich in biodiversity. But this biodiversity contributes to one of the most diverse cuisines around. Cambodia has all sorts of food traditions, and they have dishes that are unique to the country.

One such dish is called kreung. This dish is made with fish, coconut milk, and turmeric. You can find kreung in many Cambodian restaurants across the world, but you may not be able to find it everywhere because people don’t know how to make it!

In Cambodia, there is a lot of diversity when it comes to food and culture. It’s worth exploring some of the dishes that are native to Cambodia if you want to get a taste of what their cuisine is like!

Travel in Cambodia

Cambodia is a beautiful country with a rich culture, and it’s been around for centuries. It has been through extreme climates and is home to some of the most diverse people in the world.

The capital city of Phnom Penh was once known as the “Pearl of Asia” because its location on the Mekong River made it the economic center of Southeast Asia. Today, it’s still an important trade hub, but it also has some dramatic changes from what travelers remember from decades ago.

Cambodia continues to grow in tourism, becoming one of the top five destinations in Southeast Asia. The government has taken steps to improve infrastructure like roads and housing, which have made travel easier for visitors who are looking for a unique country to explore.

In addition to its diversity and rich history, Cambodia also has magnificent natural beauty that is worth exploring by foot or boat. You will find stunning landscapes that span jungles and mountains while you get a glimpse into its past through ancient temples and ruins.

Tourism in Cambodia

Cambodia has been inhabited for thousands of years, with ancient temples and stupas dating back to the 5th century BC. The country’s culture is also fascinating with Khmer art, famous landmarks like Angkor Wat, and a rich Khmer history that spans from the Angkorian era to modern day.

Love and Marriage in Cambodia

Cambodia is a country in Southeast Asia. It is largely influenced by its neighbors, Thailand and Vietnam. Its culture has also been heavily influenced by India, China, and Myanmar. Cambodian society can be quite insular at times. In fact, they have the lowest percentage of people living outside of the country than any other country in Asia. This can make it difficult to find someone who’s not already married or friendly with someone already married.

In this post, we’ll explore some of the interesting facts about love and marriage in Cambodia. We’ll explore how highly-placed families are often forced to marry off their children for political gain as well as what divorce rates are like in Cambodia!

Safety and Security in Cambodia

If you’re thinking about visiting Cambodia, you’ll quickly realize that it is one of the safest countries in SE Asia. You may even find yourself falling in love with the friendly people and fascinating culture. However, there are few things to consider before making your travel plans.

Firstly, safety and security should be your top priority. While Cambodia’s tourism boom has led to a rise in crime, it is still a safe country overall. You should use a reputable tour company and make sure to stick to the tourist areas and avoid going out at night. Then, be sure to keep up your personal safety by not walking alone or carrying large amounts of cash. Additionally, carry some sort of identification with you at all times and check if your travel insurance covers you in Cambodia before leaving for your trip!

Cambodia is a beautiful country with an interesting culture that will fascinate you from the moment you step foot on its soil. It also has many risks that need to be considered beforehand so that you can have an enjoyable trip without fear of being taken advantage of or putting yourself in harm’s way.

Conclusion

Cambodia is a developing country with a lot of potential. It has a thriving tourism industry and a growing business opportunity. Cambodia has unprecedented living costs and food prices. The country has a growing population and is expected to become the fastest growing economy in Southeast Asia by 2020. As a result of its growing economy, there is also an increasing demand for consumer products and services, which can be met by the local manufacturing industry. Cambodia is also known for its beautiful people and beautiful scenery. With all of these positives, one could argue that Cambodia is the best country to invest in.

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Angkor Times
Angkor TimesExperienced
Asked: August 1, 2024

Why Cambodia Needs Manpower to Tap AI?

Top 10 Reasons Why Cambodia Needs Manpower to Tap AI Artificial Intelligence (AI) is often perceived as a technology that could eventually reduce the need for human intervention in various tasks. However, the current landscape in Cambodia presents a different ...Read more

Top 10 Reasons Why Cambodia Needs Manpower to Tap AI

Artificial Intelligence (AI) is often perceived as a technology that could eventually reduce the need for human intervention in various tasks. However, the current landscape in Cambodia presents a different picture. As AI continues to evolve, the country needs to harness its potential by cultivating a robust talent pool. At a recent business forum in Phnom Penh on July 31 2024, on ‘Beyond Buzzwords: Leveraging AI/Machine Learning for Tangible Business Outcomes,’ experts emphasized the pressing need for manpower to effectively integrate AI into Cambodia’s growth strategy. Here are the top 10 reasons why Cambodia urgently needs manpower to tap into AI.

A panel discussion took place on Wednesday at the forum titled ‘Beyond Buzzwords: Leveraging AI/Machine Learning for Tangible Business Outcomes,’ organized by the European Chamber of Commerce in Cambodia (EuroCham) at Raintree.
A panel discussion took place on Wednesday at the forum titled ‘Beyond Buzzwords: Leveraging AI/Machine Learning for Tangible Business Outcomes,’ organized by the European Chamber of Commerce in Cambodia (EuroCham) at Raintree.

1. Limited Current AI Talent Pool

One of the most pressing challenges highlighted at the forum is Cambodia’s limited AI talent pool. Rottana Ly, R&D Director at the Cambodia Academy of Digital Technology (CADT), revealed that only 300 students are currently admitted into AI courses across the country. This small number is insufficient to meet the growing demands of businesses that are increasingly relying on AI for various functions. As businesses in Cambodia begin to explore AI, the need for more qualified professionals becomes critical. “Cambodia needs to produce more AI talent to meet the emerging demand in businesses and to make the country grow faster,” Ly stated.

2. Rapid Digital Transformation

Cambodia is undergoing a rapid digital transformation, with more businesses adopting digital technologies to improve efficiency and competitiveness. AI and Machine Learning (ML) are at the forefront of this transformation, offering new opportunities for growth and innovation. However, to fully capitalize on these technologies, the country needs a workforce skilled in AI. Without adequate manpower, the digital transformation could stall, leaving Cambodia behind in the regional tech race.

3. Economic Leapfrogging Opportunities

AI presents a unique opportunity for Cambodia to leapfrog in economic development. Fee Vu, Chief Strategy Officer at IITC.ai, pointed out that although Cambodia may have missed some initial steps in AI, the country can still leapfrog to the next level with the right talent. By investing in manpower and training, Cambodia can bypass certain stages of development that other countries have gone through, quickly advancing to become a leader in AI applications, particularly in sectors like agriculture, healthcare, and manufacturing.

4. Agricultural Efficiency and Innovation

Agriculture remains a backbone of Cambodia’s economy, and AI can significantly enhance productivity and efficiency in this sector. For instance, AI-powered Internet of Things (IoT) systems can monitor soil moisture and weather conditions to optimize water usage in rice fields. This not only conserves water but also increases crop yields. However, implementing such advanced technology requires skilled professionals who can design, manage, and maintain these AI systems. The current shortage of manpower in this area could hinder the adoption of AI in agriculture, affecting the livelihoods of many Cambodians.

5. Addressing Socio-Economic Challenges

While AI is expected to take over certain mundane tasks, there are concerns about the long-term socio-economic impact. Tomas Pokorny, Digital & Technology Committee Chairman at EuroCham, warned that the loss of jobs due to AI could lead to socio-economic problems 40 to 50 years from now unless proactive measures are taken. By investing in AI manpower now, Cambodia can mitigate these risks by creating new job opportunities in AI development, implementation, and maintenance. This proactive approach can ensure that the benefits of AI are shared broadly across society.

6. Enhancing Quality Data Management

The success of AI and ML in any business relies heavily on the availability of high-quality data. Cambodia, like many other countries, faces challenges in ensuring the quality and accessibility of data. During the forum, Fee Vu emphasized the importance of developing a master database that all businesses and stakeholders can access. To achieve this, skilled data scientists and AI experts are needed to create, manage, and maintain such databases. Without adequate manpower, Cambodia risks falling short in its data management capabilities, which are crucial for AI to deliver meaningful outcomes.

7. Youth as Catalysts for AI Adoption

Cambodia’s youthful population is a significant asset in the country’s AI journey. Adrienne Ravez-Men, a Senior Consultant and Advisor in Digital Innovation & Strategic Communications, highlighted that the young, tech-savvy generation in Cambodia is well-positioned to take AI forward. “The culture of innovation is here,” she said, underscoring the potential of young Cambodians to embrace and drive AI initiatives. However, to unlock this potential, there needs to be substantial investment in education and training programs that equip the youth with the necessary AI skills.

8. Expanding AI in Healthcare

AI has the potential to revolutionize healthcare in Cambodia by providing better diagnostic tools, personalized treatment plans, and efficient management of healthcare resources. Fee Vu demonstrated the capabilities of an AI-powered SmartChat developed for the health sector, which can answer specific queries and provide empathetic advice. However, to integrate such AI technologies into the healthcare system, Cambodia needs a workforce that understands both healthcare and AI. This cross-disciplinary expertise is currently lacking and must be developed to ensure that AI can be fully utilized in improving the country’s healthcare system.

9. Driving Innovation in Urban Development

As Cambodia’s cities grow, AI can play a crucial role in urban planning and management. AI can be used to optimize traffic flow, manage waste more efficiently, and reduce energy consumption, thereby improving the quality of life in urban areas. However, realizing these benefits requires a skilled workforce that can develop and implement AI-driven solutions tailored to Cambodia’s unique urban challenges. Without sufficient manpower, the potential for AI to drive innovation in urban development could remain untapped.

10. Building a Sustainable AI Ecosystem

Finally, for Cambodia to fully harness the potential of AI, it needs to build a sustainable AI ecosystem. This involves not only developing AI talent but also fostering a culture of innovation, encouraging collaboration between businesses and academia, and ensuring that AI applications are aligned with the country’s development goals. A sustainable AI ecosystem requires continuous investment in human capital, research and development, and the creation of supportive policies and infrastructure. By focusing on manpower development, Cambodia can lay the foundation for a thriving AI ecosystem that drives long-term economic growth and development.

Conclusion

The future of AI in Cambodia is full of promise, but the journey towards fully tapping into its potential is just beginning. As highlighted by experts at the recent forum in Phnom Penh, the country’s immediate priority must be to develop a strong AI talent pool. This will not only meet the growing demands of businesses but also position Cambodia as a competitive player in the global AI landscape. By investing in manpower now, Cambodia can ensure that it is well-prepared to harness the power of AI for sustainable development and prosperity. As Rottana Ly aptly put it, “Cambodia needs to produce more AI talent to meet the emerging demand in businesses and to make the country grow faster.” The time to act is now.

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Kun Kanha
Kun KanhaExperienced
Asked: April 23, 2021In: Travel

How I get to Koh Kong

Koh Kong is a big province which contains with beautiful beaches and nice scenery in Cambodia. We know as Koh Kong also the name of the city in Koh Kong province. Getting to Koh Kong is pretty straight forward within the ...Read more

Koh Kong is a big province which contains with beautiful beaches and nice scenery in Cambodia. We know as Koh Kong also the name of the city in Koh Kong province. Getting to Koh Kong is pretty straight forward within the town is along by the hight-way to both Sihanoukville and Kampot city. To discuss about this three cities is such a pretty good experience. The city is full of natural, beaches and entertainment that being human must experience by relaxing from your business life. Koh Kong is easy to travel and safety with the cheapest price and reasonable, furthermore really comfortable and truth. We can travel to Koh Kong by train, taxi private, motorcycle, and the fastest transportation is by plane.

Koh Kong is not yet connected to Cambodia’s passenger railway network so if you plan to travel from Phnom Penh to Koh Kong you need to take either a minivan or a bus. However, you can take the train to Battambang, take the walk to Battambang Virak Buntham Express, then take the bus to Koh Kong Virak Buntham Express.

If you’re looking for a bit of comfort during your trip, then a private taxi is your best option. The journey will take approximately 4 hours in total and there is some absolutely stunning scenery along the way and local market beside the road. While driving you can ask driver to stop and take picture along the road with beautiful scenery and purchase food from local market and enjoy yourself on the beach after arriving Koh Kong city.

Bus is the easy way and the special ticket price from Phnom Penh to Koh Kong. The journey will take approximately at least 4-6 hours. On the bus will cover with toilet, TV, air-condition and you can cook by yourself and eat on the bus if you don’t want to purchase your food outside. You can see the schedule and book it, otherwise you will miss the bus.

Driving by motorbike if you would like to experience riding in Cambodia. At least it take around 5 hours get into Koh Kong If you don’t have motorbike, in Phnom Penh have the rental service and a reasonable price. Driving by motorbike is nice experience to change from crowd to self-drive. Let’s enjoy yourself!

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Angkor Times
Angkor TimesExperienced
Asked: January 17, 2022

Why Cambodia ranks top for lowest operating costs in Asia?

Among the average costs of doing business in Asia, Cambodia ranks top. According to TMX’s – a business transformation consultancy – latest report, ‘The Great Supply Chain Migration – Breaking down the Cost of Doing Business in Asia’, Cambodia is ...Read more

Among the average costs of doing business in Asia, Cambodia ranks top. According to TMX’s – a business transformation consultancy – latest report, ‘The Great Supply Chain Migration – Breaking down the Cost of Doing Business in Asia’, Cambodia is reported to have the lowest operating costs among nine countries in Asia, ahead of Myanmar and Vietnam.

Cambodia ranks top for lowest operating costs in Asia
Cambodia ranks top for lowest operating costs in Asia

The report assessed the average costs of doing business in Asia and the corresponding country competitiveness across nine popular potential manufacturing locations: Cambodia, India, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.

According to the TMX report “The great supply chain migration – breaking down the cost of doing business in Asia,” the average total operating cost for a manufacturing company in Việt Nam ranges from US$79,280 to $209,087 per month, compared to leader Singapore at $366,561 and second placed Thailand at $142,344.

When it comes to labour – which forms 55 per cent of the total costs across the countries – Cambodia, Myanmar and the Philippines, with an average $108,196 per month while Viet Nam ranked fourth most affordable, the report said.

Countries like Việt Nam, Thailand and the Philippines, offer a sizable and relatively affordable pool of labour. Regarding the competitive scorecard, Việt Nam was rated fifth behind Singapore, Malaysia, India, and Thailand.

As for the affordable warehouse rental among the nine countries, the second-largest factor in the total cost of each of the nine countries, Cambodia ranked third behind Thailand and Myanmar followed by Việt Nam.

Coming to logistics costs, Việt Nam was rated as a high potential market, which means that the country has relatively higher logistics expenses but is capable of expanding its operations.

With the exception of Singapore, the other eight countries fell into at least one of the three stages of the manufacturing value chain, comprising ‘basic assembly lines,’ ‘developing supply chains,’ and ‘early automation.’

Both Cambodia and Myanmar fall in the first stage, in other words these two countries are suitable manufacturing bases for businesses in sectors like textiles and garments.

Philippines, Indonesia, and Việt Nam, which are categorised in the intersection of the first two stages, offer good bases for businesses in sectors like electronics, which do not require manufacturing sophistication or highly skilled labour, according to the report.

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Angkor Times
Angkor TimesExperienced
Asked: November 15, 2021

Why Cambodia A Good Place To Live?

This question keeps coming up more and more lately with travellers, backpackers and English teachers starting to bypass South East Asia’s heavyweights that are Thailand and Vietnam and seek out its rapidly developing neighbour, Read more

This question keeps coming up more and more lately with travellers, backpackers and English teachers starting to bypass South East Asia’s heavyweights that are Thailand and Vietnam and seek out its rapidly developing neighbour, Cambodia.

So if you are asking yourself, “is Cambodia a good place to live and is it somewhere you can imagine yourself living for a short or long time?” then this might be the article for you…

Is Cambodia A Good Place To Live?

Cambodia is a beautiful country to live in for both first-time travellers and experienced globetrotters. It is developing quickly but remains incredibly cheap for foreigners, meaning your money will go a long way! Locals welcome foreigners openly. It is safe with great opportunities to find jobs, and the Khmer cuisine is fantastic.

Is Cambodia a good place to live Aerial view of Phnom Penh in the daytime

We’ve all been there. We want to move somewhere or do something different, and we need Google to reassure us that it’s a good idea, don’t worry, we all do it!

Cambodia is going through a mini Renaissance.

Yes, you read that right…

Cambodia has left its dark and depressing period behind it and is being reborn. It is opening up to the world and embracing everything that it has to offer. It has done more in the previous 20 years than in the last two centuries. Cambodia is throwing its arms open to tourism and foreign business and is attracting more and more each year.

This is your chance to see Cambodia as it was, but also to be part of its Renaissance.

Is Cambodia an expensive place to live?

Cambodia is not an expensive place to live, and your money will go a very long way. Salaries are not high compared to other Asian countries, but you will be able to live very comfortably. Rent, meals, entertainment and transport are a fraction of the price next to Western countries, and Cambodia is the cheapest South East Asian country to live in.

This boils down to 3 main categories for us: Rent / Food / Entertainment.

Is Rent In Cambodia Cheap Or Expensive?

Rent in Cambodia is cheap on average. If you are travelling alone and are on a tight budget, you can easily find decent accommodation for $150 – $250 per month. If you were looking for something a bit fancier and had a bigger budget, the average rent is between $300 – $550 per month. Of course, if money is no option, there are plush villas and serviced apartments that can cater to all your needs from $600 – $3000+.

If you compare a one-bedroom apartment in Dublin, Ireland, with an average price of $1050 per month to Cambodia’s capital, Phnom Penh, the same type of apartment will cost you approximately $325 per month. You can see the amazing advantages and savings you can have by relocating to Cambodia.

Most apartment complexes in Cambodia come with swimming pools and gyms, which can be used free of charge. You might be surprised to learn that it is common not to have a washing machine in your accommodation. Don’t worry, though; there are laundrettes located on most streets where you drop off and collect your laundry.

Is Entertainment In Cambodia Affordable?

Entertainment in Cambodia is cheap and cheerful. You can check out the ancient ruins of Angkor Wat for $37 day-pass or lesser-known sites for free. Take in a traditional Apsara Dance show for less than $10. You can also visit shopping malls, cinemas, bowling alleys, bars and nightclubs which are at average prices.

A beer will cost you between $1 – $5, depending on if it is a fancy hotel or local bar. You can have a great night out in Cambodia with less than $15, trust me!

Is entertainment in cambodia affordable. Pub Street in Siem reap, Cambodia. A busy street full of tourists at night glowing with lights

Is Food & Drink In Cambodia Cheap Or Expensive?

Food and drink prices in Cambodia are extremely affordable and less than half the price of Europe and the USA. You can survive on less than $7 per day if you eat at local street markets. Local food and drink are much cheaper than products imported from abroad. Ex-pats say dining out for 1 in Cambodia will cost less than $5, and a night out will cost $20+.

  • Grocery shopping for one week will cost you: $15 – $30
  • Street-food meal for 1: <$1.50
  • Local restaurant meal for 1: <$5
  • Foreigner owned restaurant meal for 1: <$8

Imported products can be pretty expensive due to taxes, but when you see a chocolate bar or bottle of beer from back home, and it brings back those memories, you will pay anything to get your hands on it!

Is Food & Drink In Cambodia Cheap Or Expensive? Cambodian food from a restaurant of meat, noodles and vegetables

How much does it cost to live in Cambodia for a year?

It would cost you around $10,000, give or take, to live in Cambodia for a whole year if you were careful with your money. This includes rent, bills, food and entertainment for one person for a year. If you were working there, you would earn on average $13,000. This means you could potentially save $3,000 during your year in Cambodia.

If you lived in a rural part of Cambodia, it would be less, and if you lived in Phnom Penh, you could end up spending more. It all comes down to your lifestyle and location.

How Long Can A Foreigner Live In Cambodia?

You can live in Cambodia for as long as you like as a foreigner, anywhere from 30 days to the rest of your life. They have made the process extremely easy because they want more people to emigrate. All you need to do is get a visa upon arrival at immigration and extend that visa before your current one expires.

How To Get A Visa For Cambodia

There are two ways to get a visa for Cambodia:

  • Get a visa on arrival (recommended)
  • Apply for an e-visa online

An e-visa is perfect for tourists planning to be in Cambodia for less than 30 days. On arrival, you can choose a 30-day tourist visa which can be extended once OR a 30 day “Ordinary” visa that can be extended multiple times.

NOTE: The visa on arrival has been suspended due to Covid 19, and entry to Cambodia is only possible for essential travel and work purposes. If you plan to enter Cambodia during Covid times, you will require a visa through your countries Cambodian embassy and an invitation letter from the company you plan to attend before you leave for Cambodia.

For any person looking to enter Cambodia to teach English, please leave a comment or get in touch via our website or our dedicated TEFL course in Cambodia page and we can assist you with the visa process and provide you with an invitation letter that will allow you to enter Cambodia with ease.

How to get a vis for Cambodia by once upon a tefl Cambodian Visa in passport

Visa On Arrival

To get a visa on arrival, you must go to the immigration at Cambodia’s international airports when you touch down and ask for a visa. These airports are in Phnom Penh, Siem Reap and Sihanoukville.

You will be required to have a valid passport that does not expire for at least 6 months, a full-page available for Cambodia’s visa stamps and two passport photos.

The immigration officer will hand you a quick immigration form to fill out. Once this is done and handed back to them and you meet the requirements, you will need to tell them which visa you want:

  1. Single-entry tourist visa that is valid for 30 days for a $30 fee. (Grants you a one-time extension for another 30 days for $45).
  2. Business or “ordinary” visa that is valid for 30 days for a $35 fee. (Grants you unlimited extensions).

If you plan to stay in Cambodia for longer than 60 days, then you should choose the “ordinary” visa as this allows you 30 days as usual, AND you can continue to extend this visa for as long as you wish.

E-Visa

For an e-visa to Cambodia, you should contact your local Cambodian embassy and ask for their best recommendations or visit an e-visa website to compare prices.

It is simple and straightforward to navigate, and if you have any questions or problems, they have a live chat in the bottom right corner to help you along the way.

Is Cambodia Safe To Live In?

Cambodia is very safe for foreigners. There is petty crime. Just like anywhere you travel, you should be aware of your belongings in large crowds and try not to go to unknown places at night. Police corruption is present in Cambodia as they are known to take bribes. It is not perfect, and like every country in the world, it has some issues, but overall you should not have any problems in your day to day activity.

Cambodian people are incredibly open and friendly, the most friendly in south-east Asia, many would argue!

As long as you do not cause any problems, you will not have any issues, and this is a good rule of thumb. The people in Cambodia are very laid back and tend to avoid confrontations as much as possible.

What Is Cambodia Best Known For?

Cambodia is known for its cuisine, historic temples, brutal political history and natural beauty. The awful regime of the Khmer Rouge in the 1970s led to a genocide of 2 million people, and the temple complex of Angkor Wat, which is the largest religious building in the world, is what Cambodia is best known for globally. Lately, the Cambodian people have become the country’s most amazing feature!

Angkor Wat, Siem Reap, Cambodia

We have all seen it at one point or another scrolling on Instagram, in a magazine or any time Cambodia is on the TV.

The entire complex, however, is quite a bit bigger than the photos… it is the world’s largest religious monument covering a whopping 1.626km²or 402 acres in old money and is Cambodia’s most popular tourist attraction.

It was part of the largest city in the world during the reign of the Khmer kings in medieval times. Since then, the jungle has crept up and devoured it, but it has been reclaimed by the Cambodian people and brings vast tourism to Cambodia.

Temple of Angkor Wat in Siem Reap, Cambodia by once upon a tefl is Cambodia a good place to live

It is important to remember that this is a religious temple complex, and you must show respect by not screaming and shouting & also, you must dress respectfully. You may be restricted from entering unless your shoulders, arms and knees are covered.

If this is your sort of attraction, you should also check out Ta Prohm, which, if you are a Tomb Raider fan, was used as one of the locations!

Apsara Dancing

Are you wondering what Aspara dancing is? The dancers are believed by the Cambodian people to be gorgeous beings that visit Earth from the heavens to dance for kings and gods. It is an intrinsic performance that leaves spectators coming back for more.

Keep an eye on the hands of the dancers. From a very early age, children in Cambodia are taught to bend their fingers backwards to touch their forearms as part of this traditional dance. It is unique to the performance.

This video can explain it better than I ever could.

Koh Rong Island, Cambodia

Koh Rong is made up of 5 islands, of which only two are inhabited. Koh Rong Sanloem is a bit more laid back and used as the relaxation island, while its sister island, Koh Rong, is infamously known as the party island by travellers.

They are surrounded by white sandy beaches and Cambodia’s crystal clear blue water. It truly is a postcard destination and deserves to be on your bucket list for when you go to Cambodia.

There is no ATM on the island, so be sure to take enough cash with you from mainland Cambodia to get you off the island when your trip is over!

Koh Rong Beach, Cambodia. A tropical island off the coast of Cambodia from Oce Upon A TEFL is Cambodia a good place to live

The Killing Fields

Unfortunately, this is not as lighthearted as the other features of Cambodia. It can be compared to visiting the concentration camps in Poland, as this was one of the main locations of genocide and evil done by Paul Pot and the Khmer Rouge to the Cambodian people.

This is still recent history for many locals that were alive to feel its destruction. It was made into a movie called The Killing Fields, which brought global attention to Cambodia and is what many people think of when they hear Cambodia’s name.

Image of the monument at the Killing Fields in Cambodia
Monument at the Killing Fields, Cambodia.

Is Cambodia A Poor Country?

Cambodia is a developing country, and unfortunately, many of its citizens survive on as little as $1.50 per day. It may be the 4th poorest country in Southeast Asia, but the locals remain the happiest and friendliest in Asia despite this. They may be lacking in money, but they are rich in life, and that is what’s important. The ever increasing tourism is bringing newfound riches to Cambodia every year.

Is It Safe To Eat Street Food In Cambodia?

Street food in Cambodia is perfectly safe. It is best to have a hot dish that has been cooked in front of you to ensure it is fresh and the bacteria has been cooked off. As the locals will tell you, they have been eating it all their lives, and they are still alive! Cambodia’s street food is what most locals survive on as most don’t have fully equipped kitchens, so the food is healthy, hearty and delicious.

The street food can be incredible, so to avoid it would be a shame. This is how the locals eat daily, and so you should try to live like a local.

If you are staying in Cambodia for a long period and eat street food often, then there is a strong chance you will come across a dodgy meal at some point. It happens to us all. However, what doesn’t kill you makes you stronger! (Just don’t go back to that place again).

Cambodia Street food of pork and chicken is it safe to eat street food in cambodia

Pros And Cons Of Living In Cambodia

Pros Of Living In Cambodia

Live like a king or queen for a fraction of the price: As we said before, Cambodia is a more impoverished country than most, which means the prices are much lower than we are used to at home. Rent and bills are where these savings can be seen the most as you can have a luxurious house or apartment for less than half of what you pay for a basic place at home.

If you share your accommodation with friends, you could even have more for your money and rent a villa to yourselves.

Fuel is cheaper too, so if you bought a second-hand bike or scooter, you can explore the country and get around for next to nothing. The same can be said for public transport, it is extremely cheap to get around and tuk-tuks can be found everywhere and can take you around for a couple of dollars.

Eating out every night is cheaper than staying in: You will find yourself testing out different restaurants in Cambodia daily, which is something that isn’t done at home as our restaurants charge an arm and a leg.

You can easily fill yourself up on food and drink in a local restaurant for less than $5 and go home with a smile on your face, whereas in Europe or the US, it could be anywhere from $30-$40. This is what most locals and ex-pats do, so there will always be a good atmosphere wherever you go.

You meet interesting people and make friends by being out all the time, and it is also great not having to cook and wash up every evening too!

Cambodian nightlife with busy street and restaurants and bars

There is always something to do: If you live in the same town all your life, it can sometimes feel like déjà vu whenever you leave the house. When you are in a place like Cambodia, where everything is a new experience, you will find yourself exploring more and doing things you never did before.

If you live by the coast, you have access to the beaches where you can go snorkelling, diving or even rent a boat and go island hopping. If you are inland, then you can take advantage of the jungles and ancient temples and have unforgettable Cambodian adventures.

Living abroad in places like Cambodia brings out a different side of your personality… you become more confident, which takes you to unknown places and introduces you to unknown people and all these lead to more adventures and memories which will last you a lifetime.

Visas are easy to get: Cambodia wants more tourists and ex-pats to come to Cambodia because it brings money into the country. This can then be used to improve the areas in which it lacks, such as infrastructure. This means Cambodia has its arms wide open, and that is great from a foreigners point of view.

Many countries are not this open and make you jump through hoops to be allowed to enter the country or stay long term. Thailand, for example, was a very relaxed and welcoming place. If you ask any loyal tourist to Thailand or ex-pat and retiree currently living there, they will tell you that the Thai government is making it increasingly harder to stay in the country. It is almost as if they are discouraging tourism even though the tourist industry is what makes up the bulk of Thailand’s national income.

Thailand has always been the main destination of South-East Asian tourists and backpackers. Due to this ever-worsening visa situation, people are now bypassing Thailand and making Cambodia their new ‘go-to’ destination. This is great news for Cambodia as it will allow the government to improve the country and lifestyle of its citizens and also give the Cambodian people more money in their pockets and greater job opportunities in the tourism industry.

You will be exposed to new people, food and a way of life: This is the best part about travel. You see the world in a different way and have experiences that you truly cannot imagine from your bedroom back home.

Woman at the temple of Angkor Wat in Cambodia posing for photo with finger peach sign

People are often scared to move abroad because they think they will miss family and friends, they won’t like the food, and they can’t imagine living in a place where they cannot speak the language. These are all understandable but should not stop you from doing something special like moving to Cambodia. At the end of the day, you are always a plane ride home if things go wrong!

You will make new friends as all foreigners in Cambodia have left home and seek friendship, so everyone is in the same boat as you. The locals are extremely friendly and always love to socialise, and it is even a wonderful opportunity for your friends and family back home to have an unforgettable holiday with you in Cambodia!

The food is something special. Yes, we know not everyone will enjoy this part of the experience, but it is not hard to find Western food that will make you smile. If spicy duck lips with rice aren’t for you, then a plate of chicken wings and french fries with ketchup is available in almost all restaurants. Most supermarkets have the same foods you get at home, so you never need to worry about food in Cambodia. For those of you interested in eating food you will never find at home, then Cambodia is the right place for you!

The lifestyle is very laid back in Cambodia. This can be a pro or con for different people who prefer different things, but it is most definitely a pro in my books! No traffic jams that last so long you can feel yourself ageing in the car… that is a big one. You are just able to do what you want when you want to. Head to the beach for the day, go for a nice meal with your friends or have a few games of badminton.

It is hard to explain, but you just don’t have the same pressures or things weighing you down as you do back home, maybe it is a money thing or maybe it is because you are more active and therefore happier, but one thing is for sure, it beats being back home!

Is Cambodia A Good Place To Live by Once Upon A TEFL Wooden pathway to tropical island in Cambodia

Cons Of Living In Cambodia

Poor infrastructure: As Cambodia is still a developing country, this means most roads, schools, hospitals are not up to standard. Compared to Cambodia’s neighbouring countries, Thailand and Vietnam, it is still far behind. Cambodia is receiving a massive boost to its tourism industry, meaning there is higher income coming into the country, which is being used to improve the infrastructure, but it could take years for it all to be of good quality.

The internet in many areas can be very slow, and many ex-pats complain that Cambodia receives power cuts regularly and can last for hours. There is also a lack of local amenities such as parks, shopping malls and libraries, etc. This could leave you looking for things to do during the day if you are far from the beach.

Trash and bin collection is also a big problem, and piles of garbage can fill the streets. This gives many areas of the cities a bad smell, and you will be walking around pinching your nose.

You won’t become rich living in Cambodia: Yes, you will make more money than you spend if you work in a school, for example, but you would have to be frugal at times and not splash the cash every day.

Life in Cambodia is incredibly cheap, but the salaries are nothing to write home about. You will save a fortune on rent and bills compared to home, and you could save money if you tried, but most people end up blowing all their savings on trips and nights out because they are there for a good time and not to make money.

You won't become rich living in Cambodia ith image of Cambodian currency is Cambodia a good place to live

Get used to saying goodbyes: Living in Cambodia, or anywhere for that matter, as an ex-pat means you will meet temporary travellers from all around the world. Backpackers, holidaymakers and short contact English teachers all come and go in the blink of an eye.

You will become best friends with people you’ve only just met because you are both in a foreign land and speak the same language, which will bring you together, but many people don’t stay abroad forever and eventually go home. You will be at more going away parties than ever before, but before you know it, you will meet new travellers and repeat the cycle and on and on it goes.

Risk of becoming an alcoholic: This is something that happens quite often to ex-pats that move to South East Asia. With a lack of things to do most nights and the fact that most ex-pats in these countries hang out in bars daily, you can end up going to these places yourself to be social and become too friendly with a barstool.

You have to remember that these countries that offer cheap lifestyles, cheap booze, prostitutes and an escape from the reality they face in their home countries attract some questionable people. The type of people you would probably avoid if you saw them in your hometown, but because you are abroad and trying to fit in and meet people, you can sometimes end up around some dodgy characters that can mislead you into the wrong lifestyle.

So, try not to fall into this trap like many of us do. There are many good and respectable people in Cambodia and the other South-East Asian countries that would love to be your friend, and you will meet them along the way.

Cons of living in Cambodia: Risk of becoming an alcoholic by once upon a tefl image of beer on table in Cambodian bar

Homesickness is a real thing: This will happen, and it will suck! You will have bad days, and this will happen no matter where you are in the world. But when you are away from home and feel all alone, these bad days can feel worse than usual. It is important to remember that those feelings are temporary and will be gone by the next day or two.

If you feel it creeping up on you, the best advice is to tell someone. A quick call to a friend or family member back home will calm you, and they will reassure you that you are doing the right thing. Also, you should tell a friend or co-worker of yours in Cambodia. They will have no doubt been through the exact same thing at some point in their Cambodian journey, and they will help you through it.

Plan a trip to the beach or a night out on the town, and your mind will be taken off it and having a good day can change your perspective instantly, and you will start to enjoy your time abroad.

Remember, perspective is everything. Change the way you see or feel about a situation or come at it from a different viewpoint, and the situation can change. It may sound like hocus pocus, but it works. Try it.

Expect to pay more than the locals: It sounds unfair, and it is sometimes because it makes you feel different from everyone else, which isn’t a very nice feeling.

As I previously mentioned above about perspective, there are two ways to see the price difference in Cambodia:

  • Foreigners are being preyed on, and the locals are extorting them.
  • The locals are receiving a discount because they earn a fraction of what foreigners earn.

You can argue it is a little bit of both, but when you realise that what you earn in one or two hours is what most of the locals earn in a whole day. So when you look at it like this, it seems fairer, and you can sympathise with the situation rather than feeling attacked or ostracised. I hated when this happened to me, but someone took the time to explain it like that, and it made complete sense.

Cons of living in Cambodia: you will pay more than locals. Foreign woman at a Cambodian market

Your ears will be burning: No, I don’t mean sunburn. It is a saying we have when someone is talking about us without us knowing. You will often hear locals gossiping, staring and even pointing at you as if you are Brad Pitt in Hollywood. It is just something that happens, and you have to get used to it.

It is best just to laugh it off, give them a wave and go about your business. If you let every glance or whisper get to you, you will have a lot of bad days! Tell yourself they are saying how good looking you are and give yourself a confidence boost instead of anxiety. You will start to block it out after a while, but we just want to let you know to expect it, especially in a small town where foreigners seldom go.

Learn to say no: You will be approached by child beggars looking for money. They are brought around by adults trying to prey on the hearts of foreigners. It may sound cold that I say this, but it is a common scam and should be avoided.

Another common scam is they children will ask you to buy them food or supplies from a certain shop, and the prices will be high enough. When you are gone, they bring the supplies back to the shop, and the kids and shop owners share the profits.

If you truly want to help these children order them food to fill their bellies. Any money you give them is going to the adults, so do not think otherwise.

In Conclusion

I hope you are not still wondering if Cambodia is a good place to live. Cambodia should be on every traveller’s bucket list of places to go. It offers adventure, friendly locals, a long history and opportunities if you decide to live and work here. You are a stone’s throw from the rest of Asia to explore to your heart’s content.

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