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Angkor Times
Angkor TimesExperienced
Asked: May 15, 2024In: Make Money

Is Cambodia a good country to invest in?

10 Compelling Reasons to Invest in Cambodia Real Estate Cambodia, known globally for its iconic Angkor Wat, has much more to offer than just its rich cultural heritage. The country presents numerous opportunities for real estate investors. Here are ten ...Read more

10 Compelling Reasons to Invest in Cambodia Real Estate

Cambodia, known globally for its iconic Angkor Wat, has much more to offer than just its rich cultural heritage. The country presents numerous opportunities for real estate investors. Here are ten reasons why investing in Cambodian real estate is a smart decision:

Is Cambodia a good country to invest in?
Is Cambodia a good country to invest in?

1. Strategic Location

Cambodia is strategically located between Thailand, Vietnam, and Laos, three robust ASEAN economies. It also neighbors two of the world’s largest and fastest-growing economies, China and India. Being part of China’s Belt and Road Initiative further integrates Cambodia into the Southeast Asia network, enhancing its growth potential and creating ample business opportunities.

2. Strong GDP Growth

Cambodia has experienced consistent GDP growth, averaging around 7% in recent years (7.1% in 2019). This growth rate is among the highest in ASEAN. The country’s economy benefits significantly from foreign direct investment (FDI), which has surged by over 800% in the past decade, particularly in the construction and real estate sectors. Cambodia’s investor-friendly policies, including no visa restrictions, no currency differentiation, and tax exemptions, make it an attractive investment destination

3. Young Population

With an average age of 27, Cambodia boasts the youngest population in Southeast Asia. This youthful demographic translates into a high labor force participation rate and low labor costs. Zero unemployment rates have attracted substantial foreign investments from China, Hong Kong, and Singapore, driving economic development and business expansion

4. Booming Tourism Industry

Tourism is a vital sector for Cambodia’s economy, with international tourist arrivals increasing by 6.6% to 6.61 million in 2019. Key attractions include the Angkor Wat in Siem Reap, Sihanoukville, and the capital city, Phnom Penh. The surge in tourism has prompted extensive infrastructure development, including improvements to international airports, enhancing the country’s appeal to investors.

5. US Dollar Economy & No Foreign Exchange Control

Despite the Cambodian Riel being the official currency, the US dollar is widely used for major transactions, including real estate. Cambodia is one of the few countries in the world, and the only one in Southeast Asia, where the US dollar dominates, accounting for over 80% of currency in circulation. The absence of foreign exchange controls allows free movement of capital, making it easier for investors to manage their investments.

6. Freehold Foreign Property Ownership

Since 2010, Cambodia has allowed foreigners to own freehold properties, such as condominiums or apartments above the second floor, with a maximum foreign ownership quota of 70%. There are no restrictions on the amount of investment, and foreigners can freely sell their properties. However, foreigners cannot own land directly.

7. Affordable Property Prices

Compared to other Asian countries like China, Hong Kong, and Singapore, property prices in Cambodia are highly affordable. For instance, condominiums in central Phnom Penh are priced between $2,000 and $3,000 per square meter, a fraction of the cost in other major Asian cities. Although prices have risen in recent years, they remain low relative to the global average.

8. Capital Growth & Rental Yield

Cambodia’s real estate market has shown significant growth, with Phnom Penh property prices increasing by an average of 15% due to strong economic performance and favorable foreign ownership laws. Land prices in Phnom Penh have also surged since 2010. The city is popular among investors from China, Singapore, Taiwan, and Hong Kong, offering attractive rental yields of 6% to 8%.

9. Robust Development Plans

The rapid growth in tourism and foreign investments has spurred massive high-rise developments, particularly in Phnom Penh. These developments cater to the increasing demand for residential and commercial properties, further boosting the real estate market.

10. Investment Incentives

Cambodia offers numerous incentives for investors, including tax holidays, duty exemptions, and investment guarantees. These incentives, coupled with the country’s open investment policies, create a favorable environment for real estate investments.

In summary, Cambodia’s strategic location, robust economic growth, youthful population, booming tourism industry, use of the US dollar, and favorable investment policies make it an attractive destination for real estate investors. Whether you’re looking for capital growth or high rental yields, Cambodia presents a wealth of opportunities.

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Angkor Times
Angkor TimesExperienced
Asked: October 30, 2023In: Make Money

Why Cambodia is Poised to Emerge as One of the 15 Fastest-Growing Nations in 2024?

In the landscape of global economic growth, Cambodia is set to make a significant mark in 2024, positioning itself among the top 15 fastest-growing nations. This promising trajectory can be attributed to a combination of factors that reflect the country’s ...Read more

In the landscape of global economic growth, Cambodia is set to make a significant mark in 2024, positioning itself among the top 15 fastest-growing nations. This promising trajectory can be attributed to a combination of factors that reflect the country’s resilience and determination to flourish on the international stage.

According to the October 2023 World Economic Outlook from the International Monetary Fund (IMF), Cambodia is predicted to experience a robust GDP growth rate of 6.1 percent in the coming year. This rate not only outpaces many of its Southeast Asian counterparts but also highlights Cambodia’s potential as a thriving economic force. In the IMF’s ranking, Cambodia holds the 14th position, with Macao SAR leading the chart with an astounding growth projection of 27.2 percent. Other nations in this list of the fastest-growing economies include Guyana (26.6 percent), Palau (12.4 percent), Niger (11.1 percent), Senegal (8.8 percent), Libya (7.5 percent), Rwanda (7 percent), Cote d’Ivoire (6.6 percent), Burkina Faso (6.4 percent), Benin (6.3 percent), India (6.3 percent), The Gambia (6.2 percent), and Ethiopia (6.2 percent).

This remarkable prediction by the IMF stems from a series of positive economic indicators and trends within Cambodia. The nation’s ability to sustain economic growth can be attributed to a combination of factors that are being actively nurtured and cultivated. As we delve deeper into these contributing elements, a brighter picture emerges of Cambodia’s potential as a regional and global economic player.

In late 2023, the IMF convened the 2023 Article IV Consultation with Cambodia, spanning from October 18 to October 31. This consultation facilitated discussions on macroeconomic developments, future economic outlook, and policy considerations with key Cambodian stakeholders. Leading this consultation is Davide Furceri, the IMF Mission Chief for Cambodia. This engagement underscores the international community’s interest in Cambodia’s growth potential and its willingness to support the nation in achieving its economic objectives.

Aaditya Mattoo, the World Bank East Asia and Pacific Chief Economist, expressed optimism about Cambodia’s economic prospects. He highlighted several key drivers behind the nation’s expected growth. Notably, the tourism sector has made a commendable recovery from the lows induced by the pandemic. Cambodia has also witnessed a surge in exports and a resurgence in the agriculture and manufacturing sectors. According to the World Bank Group’s projections, Cambodia is anticipated to achieve a growth rate of 5.5 percent in the current year and is poised for a remarkable growth of 6.1 percent in 2024. Mattoo emphasized that Cambodia’s participation in the Regional Comprehensive Economic Partnership (RCEP) is pivotal for its market access, and the country’s efforts in enacting a new Investment Law and embracing digitalization are steps in the right direction.

However, Mattoo stressed the importance of focusing on skill development and enhancing connectivity, as these elements are integral to a nation’s growth prospects. Emphasizing the need for a concerted effort, he highlighted that the government must ensure that skill development and connectivity remain central to their development goals. These are the building blocks upon which Cambodia’s future growth will be constructed.

Edwin Vamderbruggen, Senior Partner of advisory firm VDB Loi in Phnom Penh, echoed the positive sentiment about Cambodia’s growth. He observed that growth has been evident in specific areas over the past few years. Notably, sectors such as energy production, including renewables, and transmission, as well as financial services such as banking and insurance, have displayed considerable growth. Additionally, the real estate development sector has witnessed high-profile projects, and industrial and public infrastructure initiatives are also on the rise. With more projects in the pipeline, Cambodia is on the cusp of a remarkable transformation.

Vichet Lor, Vice-President of the Cambodia Chinese Commerce Association, recognized the pivotal role played by regional and international initiatives in Cambodia’s economic development. The Regional Comprehensive Economic Partnership (RCEP) and the Belt and Road Initiatives (BRI) have emerged as vital economic tools and financial instruments. These initiatives will enable Cambodia to realize its ambitious goal of achieving high-income country status by 2050. Cambodia’s participation in these initiatives not only enhances its economic prospects but also strengthens its regional and global connectivity.

Lor also underscored the significance of the ASEAN region, of which Cambodia is a part, in driving global economic growth. He emphasized that the economic importance and contribution of ASEAN to global economic growth will continue to expand and extend beyond national boundaries through initiatives like RCEP and the adoption of fintech as a prominent pillar of growth for the next decade and beyond. The projections from institutions such as the Asian Development Bank (ADB), IMF, and the World Bank affirm that the ASEAN region, with its multifaceted and diverse economies, holds the key to promising growth and prosperity for the middle class.

In this context, the Philippines is expected to be the second-fastest-growing economy in ASEAN in 2024, with a projected growth rate of 5.9 percent, while Vietnam closely follows with a growth rate of 5.8 percent. These countries are evidence of the broader trend in the region, where economic growth is not confined to a single nation but is shared across the ASEAN community.

In conclusion, Cambodia’s economic growth prospects for 2024 are promising, with the IMF’s projection of a 6.1 percent GDP growth rate. The nation’s resilience, combined with positive developments in various sectors, makes it a standout performer in the region. With active participation in international initiatives and a commitment to skill development and connectivity, Cambodia is on the path to becoming one of the 15 fastest-growing nations in 2024. As the ASEAN region continues to assert its economic importance on the global stage, Cambodia is well-positioned to be a significant contributor to the region’s continued growth and prosperity.

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Angkor Times
Angkor TimesExperienced
Asked: October 29, 2023In: Make Money

Why Cambodia Continues to Attract Investors?

Investment Odyssey: Cambodia’s Unwavering Attractiveness Cambodia, situated in Southeast Asia, stands as an enticing prospect for foreign investors. The recent release of ‘Cambodia’s Infrastructure Market Update and Outlook,’ in partnership with PwC’s Singapore and Cambodian branches, reinforces the nation’s position as ...Read more

Investment Odyssey: Cambodia’s Unwavering Attractiveness

Cambodia, situated in Southeast Asia, stands as an enticing prospect for foreign investors. The recent release of ‘Cambodia’s Infrastructure Market Update and Outlook,’ in partnership with PwC’s Singapore and Cambodian branches, reinforces the nation’s position as a promising frontier economy. This report delves into the potential infrastructure investment opportunities within Cambodia and sheds light on the vital infrastructure sub-sectors in need of development.

Over the years, Cambodia has showcased impressive economic growth, with an average annual GDP growth rate of 7.1% between 1994 and 2021. This growth has been primarily driven by key sectors such as manufacturing (garment and leather), agriculture, tourism, and construction. Notably, Cambodia’s steadfast long-term growth makes it one of the most consistent performers across the region. Despite enduring the economic setbacks triggered by the COVID-19 pandemic, with a 3.1% contraction in 2020 and a 2% decline in 2021, Cambodia is swiftly recovering.

Jennifer Tay, Infrastructure Leader at PwC Singapore, highlights Cambodia’s advantageous position, asserting that the nation is well-poised to capitalize on opportunities for sustained growth. This prospect is further bolstered by the Royal Government of Cambodia’s dedication to implementing reforms and nurturing growth.

Nevertheless, the report acknowledges the challenges brought by recent geopolitical factors. Rising energy and food prices are a concern for Cambodia, which heavily relies on imports of these commodities. To maintain its growth trajectory and align with the Prime Minister’s vision of elevating Cambodia to middle-income country status by 2050, PwC underscores the necessity for significant investment in infrastructure. The report recommends a substantial investment of $28 billion in infrastructure between 2016 and 2040 to support economic growth.

The report also underscores that Cambodia’s population growth surpasses international averages, further reinforcing its potential to achieve middle-income status by 2050. This, coupled with ongoing reforms and capital asset formation, is expected to fuel sustainable long-term growth.

To guide potential investors, the report outlines key roadmaps, including the Royal Government of Cambodia’s infrastructure development plan, the Transport and logistics master plan, and the Public-Private Partnership (PPP) Law. The Council for Development of Cambodia has identified specific sectors like agri-food, automotive, electronics, textile and apparel, bike and parts, and furniture and plywood, which are projected to drive future growth and enable Cambodian firms to become global leaders.

The implementation of the Public-Private Partnership (PPP) Law of 2021 has notably advanced infrastructure investment. This law has fostered increased participation of private capital and improved efficiencies in infrastructure development. As the report highlights, “With the enactment of the PPP Law, many bottlenecks in the infrastructure project pipelines could be eased by using an incentive mechanism.”

The report also recognizes the potential for joint ventures with local players in Cambodia, albeit emphasizing the importance of finding the right local partners. Navigating local factors, including bureaucracy and business culture, necessitates a reliable local partner. Cambodia has witnessed significant growth in the asset portfolios of such local players, indicating their ability to diversify into new sectors.

Nonetheless, the report concedes that raising affordable long-term capital for financing infrastructure projects remains a challenge. This underscores the need for innovative financing solutions to sustain Cambodia’s growth trajectory and attract investors to its burgeoning economy.

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Angkor Times
Angkor TimesExperienced
Asked: October 18, 2023In: Make Money

Which businesses are most profitable in Cambodia?

Cambodia is a rapidly developing country with a growing economy. There are many opportunities for businesses to succeed in Cambodia, but some sectors are more profitable than others. Read more

Cambodia is a rapidly developing country with a growing economy. There are many opportunities for businesses to succeed in Cambodia, but some sectors are more profitable than others.

king-father-sihanouk-monument-phnom-penh
Independent movement phnom penh

This blog post will discuss the most profitable businesses in Cambodia of all times, with detailed information. We will also discuss some of the key factors to consider when starting a business in Cambodia.

Why start a business in Cambodia?

There are many reasons why you might want to start a business in Cambodia. Here are a few:

  • Strong economic growth. The Cambodian economy is growing rapidly, with average GDP growth of over 7% per year in recent years. This creates a favorable environment for businesses to succeed.
  • Young and growing population. Cambodia has a young and growing population, with over 60% of the population under the age of 30. This provides a large pool of potential customers and employees.
  • Low labor costs. Labor costs in Cambodia are relatively low, which can give businesses a competitive advantage.
  • Government support. The Cambodian government is supportive of foreign investment and has created a number of initiatives to make it easier to start and run a business in the country.

Here are the most profitable businesses in Cambodia of all times, with detailed information:

1. Agriculture

Agriculture is the largest sector of the Cambodian economy, accounting for over 20% of GDP. The country has a rich agricultural heritage, and its climate is ideal for growing a wide variety of crops, including rice, rubber, cassava, and maize.

Cambodia is also a major exporter of agricultural products, and its exports have grown rapidly in recent years. In 2022, Cambodia exported over $6 billion worth of agricultural products, making it one of the largest agricultural exporters in Southeast Asia.

2. Construction

The construction sector is another major driver of the Cambodian economy. The country is experiencing a rapid urbanization boom, and there is a high demand for new housing, commercial space, and infrastructure projects.

The Cambodian government is also investing heavily in infrastructure development, including new roads, bridges, and airports. This is providing further opportunities for construction companies.

3. Real estate

The real estate market in Cambodia is booming, with property prices rising rapidly in recent years. This is due to a number of factors, including the country’s strong economic growth, increasing urbanization, and limited supply of land.

There is a high demand for both residential and commercial property in Cambodia. This is providing opportunities for investors and developers.

4. Tourism

Cambodia is a popular tourist destination, known for its rich cultural heritage, stunning scenery, and friendly people. The country’s tourism sector has grown rapidly in recent years, and it is now one of the most important sectors of the economy.

There is a high demand for tourism-related services in Cambodia, such as accommodation, transportation, food and beverage, and tour guiding. This is providing opportunities for entrepreneurs and investors.

5. Manufacturing

The manufacturing sector is another important sector of the Cambodian economy. The country has a number of comparative advantages in manufacturing, such as low labor costs and proximity to major markets.

The garment industry is the largest manufacturing sector in Cambodia, accounting for over 60% of the country’s industrial exports. Other important manufacturing sectors include electronics, footwear, and food processing.

6. E-commerce

The e-commerce sector is growing rapidly in Cambodia, as more and more people gain access to the internet and smartphones. The country has a young and tech-savvy population, which is driving the growth of e-commerce.

There is a high demand for a wide range of products and services online in Cambodia, including fashion, electronics, food and beverage, and travel. This is providing opportunities for e-commerce businesses.

7. Education

The education sector is another important sector of the Cambodian economy. The country is investing heavily in education to improve the skills of its workforce and support economic growth.

There is a high demand for quality education at all levels in Cambodia, from primary to tertiary education. This is providing opportunities for educational institutions and investors.

8. Healthcare

The healthcare sector in Cambodia is growing rapidly, as more and more people have access to affordable healthcare services. The country has a number of government and private healthcare providers.

There is a high demand for healthcare services in Cambodia, particularly in rural areas. This is providing opportunities for healthcare providers and investors.

9. Energy

The energy sector is another important sector of the Cambodian economy. The country is investing heavily in renewable energy to reduce its reliance on fossil fuels.

There is a high demand for energy in Cambodia, particularly electricity. This is providing opportunities for power generation companies and investors.

10. Financial services

The financial services sector in Cambodia is growing rapidly, as more and more people have access to banking and other financial services. The country has a number of commercial banks, microfinance institutions, and other financial institutions.

There is a high demand for financial services in Cambodia, particularly in rural areas. This is providing opportunities for financial institutions and investors.

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