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Angkor Times
Angkor TimesExperienced
Asked: December 27, 2023In: Make Money

What are the key economic indicators and growth trends that position Cambodia as a top potential investment destination in Asia?

Cambodia has proven itself as a potential investment destination with positive growth trends, development, and reform, according to a recent report by the Royal Government of Cambodia. Cambodia’s economic certainty was reaffirmed by the International Monetary Fund’s (IMF) projection that ...Read more

Cambodia has proven itself as a potential investment destination with positive growth trends, development, and reform, according to a recent report by the Royal Government of Cambodia. Cambodia’s economic certainty was reaffirmed by the International Monetary Fund’s (IMF) projection that the country’s growth will reach 5.6 percent in 2023 and 6.6 percent in 2024.

Cambodia investment trends Cambodia investment trends

Here are the top 10 advantages that make Cambodia a potential investment destination:

1. Positive Growth Trends

Cambodia has demonstrated consistent positive growth trends, signaling its potential as an attractive investment destination, as highlighted in a recent report by the Royal Government of Cambodia.

2. Economic Certainty

The International Monetary Fund’s (IMF) optimistic projection further reinforces Cambodia’s economic certainty, with expected growth rates of 5.6 percent in 2023 and an impressive 6.6 percent in 2024.

3. High FDI Attractiveness

Cambodia stands out on the Foreign Direct Investment (FDI) Standouts Watchlist 2024, securing an impressive index score of 96.11 out of 100. This underscores its appeal as a top-tier destination for potential investors.

4. Youthful Workforce

Cambodia boasts a rich pool of young professionals, serving as a significant catalyst for both the national economy and investment prospects. This demographic strength enhances the country’s overall attractiveness for business ventures.

5. Competitive Labor Costs

The manufacturing sector in Cambodia benefits from maintaining reasonable labor costs, providing a competitive edge for businesses. This, coupled with strategic positioning for global exports, enhances Cambodia’s appeal to international investors.

6. Strategic Trade Agreements

Cambodia has actively pursued free trade agreements, including collaborations with ASEAN and other economies. These agreements create an enabling environment for investments, fostering international trade relationships.

7. Infrastructure Modernization

Cambodia has invested in modernizing its physical infrastructure, encompassing international airports, deep-sea ports, and land and water transportation systems. This strategic move addresses logistical challenges and reduces costs for businesses.

8. Logistics Efficiency

The nation’s commitment to modernizing infrastructure contributes to enhanced logistics efficiency, making Cambodia an ideal location for businesses looking to optimize their supply chain operations.

9. Proactive Government Strategies

The Pentagonal Strategy of the Cambodian government plays a pivotal role in expanding and enhancing the technical skills of the youth. This includes a focus on digital knowledge and essential soft skills, aligning the workforce with global demands.

10. Sustainable Development Environment

Cambodia’s proactive approach to growth, development, and reform creates a sustainable investment environment. Investors can be confident in the nation’s commitment to fostering long-term economic stability and prosperity.

Source: AKP

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Angkor Times
Angkor TimesExperienced
Asked: December 23, 2023In: Make Money

Exploring Phnom Penh’s Future: Which Satellite City Reflects Your Ideal Lifestyle?

Phnom Penh’s Satellite Cities: A Tapestry of Elegance and Modernization Phnom Penh, the bustling capital of Cambodia, is witnessing a transformative urban landscape with the emergence of its satellite cities. Each of these developments represents a unique blend of modernization, luxury, ...Read more

Phnom Penh’s Satellite Cities: A Tapestry of Elegance and Modernization

Phnom Penh, the bustling capital of Cambodia, is witnessing a transformative urban landscape with the emergence of its satellite cities. Each of these developments represents a unique blend of modernization, luxury, and artistic charm that is reshaping the city’s skyline.

Koh Pich – Diamond Island’s Parisian Elegance

Koh Pich, fondly known as Diamond Island, has metamorphosed from marshland into a sprawling 2-acre masterpiece. Nestled between the Mekong and Bassac rivers, it exudes an air of sophistication reminiscent of Paris. The Elysée neighborhood mirrors the charm of Parisian streets, offering a unique fusion of luxury and artistry. Strolling along the Seine-inspired waterfront promenade or indulging in the vibrant markets and restaurants, Koh Pich promises a distinctive municipality in Phnom Penh.

“Koh Pich is a testament to Cambodia’s evolution, where the charm of Paris meets the spirit of the Mekong. It’s not just a city; it’s an experience,” says Vannak, a local businessman.

Koh Norea – Monumental Transformation at the Heart

At the heart of Phnom Penh, Koh Norea stands as a colossal infrastructure and real estate development covering 125 hectares. This Satellite City offers a dynamic urban landscape with commercial hubs, entertainment districts, schools, medical centers, and waterfront luxury living at Norea Cove. Thirty-four Waterfront Super Villas redefine opulence, creating a masterpiece meant to be cherished for generations.

“Koh Norea is a symbol of progress and innovation, transforming the city’s core into a multifaceted urban experience,” remarks Sopheak, a prominent businessman in Phnom Penh.

Chroy Changvar Satellite City – Hub of Commercial Grace

With a staggering investment of $3 billion, Chroy Changvar Satellite City spans 100 hectares and is evolving into a hub of commercial excellence. High-rise buildings, upscale homes, restaurants, and a trade-style layout embody the spirit of international trade, creating an atmosphere of sophistication and refinement.

“Chroy Changvar Satellite City is where commerce meets elegance, shaping a new standard for luxurious living in Phnom Penh,” states Chantha, a visionary entrepreneur.

Grand Phnom Penh Satellite City – Indonesian Elegance

Situated in the northern part of Phnom Penh, Grand Phnom Penh Satellite City sprawls over 260 hectares, boasting a rich history and a unique golf course. Developed as a joint venture, it represents Indonesian elegance with a touch of local flair. Revived by Chip Mong Land, this development offers residents a luxurious lifestyle immersed in greenery.

“Grand Phnom Penh Satellite City reflects the harmonious blend of Indonesia’s grace and Cambodia’s rich heritage, creating a truly unique living experience,” observes Sophea, a real estate mogul.

ING City – An Emerging Real Estate Opportunity

In the southern part of Phnom Penh, ING City, spanning 2,572 hectares, is a mixed housing and commercial haven. The Samdech Techo Hun Sen Road runs through its heart, and major projects like PH Diamond Place and Aeon3 are propelling its development. ING City is becoming a promising destination for those seeking a harmonious blend of modern living and the serenity of nature.

“ING City is not just an investment; it’s a commitment to a sustainable and enjoyable life, embracing the beauty of nature,” asserts Bunhou, the visionary developer behind ING City.

Each of these satellite cities weaves a unique facet of Cambodia’s modernization and urban development. They not only drive the real estate sector but also offer an exclusive and opulent lifestyle for those choosing to make them home. The future of living in Phnom Penh is envisioned with grandeur and elegance, defined by these burgeoning satellite cities.

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Exploring Phnom Penh’s Future: Which Satellite City Reflects Your Ideal Lifestyle?
Cambodia city planningCambodia property marketCambodia real estate trendsFuture of Phnom PenhFuture trends in urban livingHousing options Phnom PenhIdeal lifestyle in CambodiaLifestyle choices in CambodiaLifestyle preferences in Phnom PenhLifestyle trends CambodiaPhnom Penh satellite citiesReal estate investment CambodiaResidential options Phnom PenhSatellite city amenitiesSatellite city comparisonSatellite city infrastructureSatellite city livingUrban development Phnom PenhUrban planning Cambodia
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Angkor Times
Angkor TimesExperienced
Asked: December 14, 2023In: Make Money

What Factors Make Vingroup’s Investment in Electric Taxis in Phnom Penh a Lucrative Business Opportunity in 2024?

Vingroup, a leading Vietnamese company, is set to revolutionize the transportation landscape in Cambodia by introducing 2,500 electric taxis in Phnom Penh in March 2024. The announcement was made by Nguyen Viet Quang, the Chief Executive Officer (CEO) of Vingroup, ...Read more

Vingroup, a leading Vietnamese company, is set to revolutionize the transportation landscape in Cambodia by introducing 2,500 electric taxis in Phnom Penh in March 2024. The announcement was made by Nguyen Viet Quang, the Chief Executive Officer (CEO) of Vingroup, during his meeting with Prime Minister Hun Manet on December 12, 2023.

Vingroup company electric taxi
Vingroup company electric taxi

Expressing gratitude for the opportunity to meet with Prime Minister Hun Manet, CEO Nguyen Viet Quang highlighted the significance of Vingroup’s investment in Cambodia’s service sector, particularly the deployment of 2,500 electric taxis. The ambitious project is a testament to Vingroup’s commitment to advancing sustainable and eco-friendly transportation solutions in the region.

Vingroup, a prominent conglomerate in Vietnam, has a rich history that reflects the nation’s economic transformation. Established in 1993 by entrepreneur Pham Nhat Vuong, Vingroup initially focused on the food industry before diversifying its portfolio over the years. The company made significant strides in real estate development, becoming a key player in Vietnam’s property market with the construction of residential complexes, commercial centers, and resorts. Vingroup expanded its reach into various sectors, including retail, healthcare, education, and technology. VinFast, the automotive arm of Vingroup, marked a historic milestone when it unveiled its first Vietnamese-made cars, signaling the company’s ambitious foray into the automotive industry. Known for its commitment to innovation and sustainability, Vingroup has played a pivotal role in shaping Vietnam’s economic landscape and contributing to the country’s global competitiveness.

Scheduled for an official launch in March 2024, the electric taxi service will initially roll out in the bustling city of Phnom Penh before expanding to Siem Reap and Sihanoukville. This strategic move aligns with Vingroup’s vision to provide accessible and environmentally conscious transportation options across key urban centers in Cambodia.

Prime Minister Hun Manet commended Vingroup for its forward-thinking investment in electric taxi services, emphasizing the alignment of the initiative with the Cambodian government’s clean energy policy. The adoption of electric taxis contributes significantly to environmental preservation and aligns with the nation’s commitment to sustainable practices.

Moreover, Prime Minister Hun Manet encouraged companies, including Vingroup, to explore opportunities for investment in the production of components and auto parts within Cambodia. This would bolster the local automotive industry and enhance self-sufficiency, creating a positive impact on the entire car production chain, both in Cambodia and Vietnam.

Here are 7 potential benefits:

1. Environmental Impact

Reduction in Greenhouse Gas Emissions: Electric taxis produce lower or zero emissions compared to traditional gasoline or diesel-powered vehicles, contributing to improved air quality and a decrease in the overall carbon footprint.

2. Economic Savings

Lower Operating Costs: Electric vehicles (EVs) generally have lower operating costs per mile compared to traditional internal combustion engine vehicles. This can lead to cost savings for taxi operators and drivers in terms of fuel and maintenance.

3. Energy Independence

Diversification of Energy Sources: By adopting electric taxis, countries can reduce their dependence on imported fossil fuels, contributing to energy security and independence.

4. Public Health

Improved Air Quality: Electric vehicles contribute to reducing air pollution, which can have positive effects on public health. Lower levels of air pollutants are associated with a lower incidence of respiratory and cardiovascular diseases.

5. Technology Advancements

Encouraging Innovation: The adoption of electric taxis promotes the development and implementation of advanced technologies in the automotive sector, fostering innovation and supporting a transition to a more sustainable transportation system.

6. Government Incentives

Policy Support: Governments may offer incentives such as tax breaks, subsidies, or other support measures to encourage the adoption of electric vehicles. These incentives can make it more financially viable for taxi operators to switch to electric fleets.

7. Reduced Noise Pollution

Quieter Operation: Electric vehicles are generally quieter than their traditional counterparts, leading to a reduction in noise pollution. This can be particularly beneficial in urban areas where noise levels from transportation can have adverse effects on residents’ well-being.

Vingroup’s venture into the electric taxi sector not only addresses the growing demand for sustainable transportation but also underscores the company’s dedication to fostering economic development and environmental stewardship in Cambodia. As the project takes shape, it is expected to bring about numerous benefits, including reduced air pollution, lower carbon emissions, and a boost to the local economy through job creation and increased investment in the automotive sector.

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Angkor Times
Angkor TimesExperienced
Asked: December 12, 2023In: Make Money

What strategic moves did TikTok employ in acquiring Tokopedia, and how does the $1.5 billion investment factor into this control?

TikTok Takes Control of Tokopedia with $1.5 Billion Investment In a strategic move to strengthen its position in the online shopping landscape of Southeast Asia, TikTok has unveiled plans to invest a significant $1.5 billion to acquire a controlling stake in ...Read more

TikTok Takes Control of Tokopedia with $1.5 Billion Investment

In a strategic move to strengthen its position in the online shopping landscape of Southeast Asia, TikTok has unveiled plans to invest a significant $1.5 billion to acquire a controlling stake in Tokopedia, the prominent e-commerce marketplace under Indonesia’s PT GoTo Gojek Tokopedia Tbk.

This collaboration between TikTok and Tokopedia, the two foremost online platforms in the country, is aimed at rejuvenating the e-commerce operations of TikTok, a Bytedance-owned platform. TikTok had faced regulatory challenges in Indonesia, the largest economy in the region, resulting in a halt to its e-commerce initiatives.

The decision by Indonesia in October 2023 to restrict online shopping on social media platforms was intended to protect smaller retailers and user data privacy. Consequently, TikTok Shop, the platform’s e-commerce service launched earlier in limited markets, including Indonesia, was suspended.

TikTok Shop was a crucial element in TikTok’s strategy to leverage its extensive user base and compete with rapidly growing online sellers like Shein and PDD Holdings’ Temu, both of which capitalized on TikTok for effective marketing.

Under the new agreement, TikTok will acquire a 75.01% stake in Tokopedia, Indonesia’s largest e-commerce platform, at a cost of $840 million. Additionally, TikTok Shop’s operations in Indonesia will be seamlessly integrated into the expanded Tokopedia entity.

The announcement triggered an 8.3% drop in shares of GoTo, a company with a diverse portfolio spanning ride-hailing, delivery, and financial services. Some attributed this response to profit-taking following a recent surge in anticipation of the TikTok deal.

Both companies, in a joint statement on Monday, emphasized their commitment to a pilot phase for the partnership, to be closely coordinated with and supervised by relevant regulatory bodies. This move underscores TikTok’s persistent ambition to penetrate the e-commerce market and its adaptability in navigating diverse regulatory landscapes.

When is the anticipated availability of the TikTok Shop feature in Cambodia? There’s no news of the availability of TikTok Shop in Cambodia yet. If there is any feature of TikTok Shop makes available, TikTik will implement it with the agency account first before rolling out to the public. However, it highlights TikTok’s ongoing efforts to expand its e-commerce services into different regions, showcasing its determination to overcome regulatory challenges and tap into diverse markets.

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Angkor Times
Angkor TimesExperienced
Asked: December 12, 2023In: Lifestyles

In What Ways is Cambodia Pioneering Digital Currency Payments to Boost Its Tourism Industry?

Cambodia is revolutionizing its tourism sector through the integration of blockchain-based central bank digital currency (CBDC) payments, seeking to diversify and modernize payment options for tourists. As a key component of Cambodia’s broader economic strategy, tourism stands as one of ...Read more

Cambodia is revolutionizing its tourism sector through the integration of blockchain-based central bank digital currency (CBDC) payments, seeking to diversify and modernize payment options for tourists. As a key component of Cambodia’s broader economic strategy, tourism stands as one of the four main pillars of the nation’s economy.

Mobile Payments in Cambodia, Bakong Mobile Payments in Cambodia, Bakong

The initial three quarters of 2023 have witnessed a substantial surge in international tourist arrivals in Cambodia, nearly quadrupling compared to the preceding year, according to the country’s tourism sector. This upswing underscores the necessity of refining payment systems for local merchants, particularly in the realm of mobile payments, to cater to the needs of an increasingly globalized audience.

Playing a pivotal role in steering these digital currency transformations is the National Bank of Cambodia (NBC). In a pioneering move, the central bank has empowered tourists to utilize their e-wallets linked to Khmer Riel bank accounts for seamless payments at any KHQR merchant across Cambodia.

The KHQR system, inaugurated by the NBC in mid-2022, serves both domestic retail transactions and cross-border dealings within ASEAN countries. Operating through a unified QR code compatible with various mobile banking apps, KHQR is facilitated by Bakong.

Furthermore, users of Bakong CBDC meeting full Know Your Customer (KYC) criteria, alongside Khmer Riel bank account holders, can now conduct transactions at Alipay+ global merchant locations using local wallets and apps endorsed by the NBC. This strategic move is anticipated to promote the utilization of the local currency.

Bakong Payments Proccess
Bakong Payments Proccess

Dr. Chea Serey, Governor of the NBC, emphasized the initiative’s impact on merchants, stating, “This simplicity of making payments provides merchants with a boost in revenue, helping to stimulate economic activity.”

Douglas Feagin, Senior Vice President of Ant Group and Head of Alipay+, Ant International, acknowledged the significance of the partnership, noting, “This partnership will offer added convenience to tourists, allowing them to use familiar payment methods. It will also enable easier shopping at local businesses, especially for micro-merchants.”

This transformation in Cambodia’s payment infrastructure not only aims to enrich the experience for international tourists but also supports local businesses in adapting to the dynamics of the evolving digital economy.

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