Despite Cambodia’s eventful history, the country has promising economic prospects. For example, the country is currently ranked 11th in the World in terms of high GDP growth over the past 10 years. With a growth of about 7% in recent years, the economy has great growth potential. Also, this growth is expected to sustain for the next five years.
Cambodia is keen to attract higher volumes of foreign investment and as such has developed liberal trade and investment policies in order to create an open business environment in the country. This has caused a strong and steady influx of FDI over the past decade from companies capitalizing on Cambodia’s strong developing economy.
Cambodia is located in the center of Southeast Asia and borders Thailand, Laos, and Vietnam. In recent years, the country has concluded many free trade agreements with China, Japan, India, Australia, and New Zealand, among others. In addition, Cambodia is also a member of the Association of Southeast Asian Nations (ASEAN).
The country also falls under the 'Anything But Arms' (ABA) system of the EU, with all products except arms and ammunition subject to tariff and quota-free conditions in the EU. These treaties provide for a high degree of regional integration. Additionally, the relatively low wages provide competitive access to a large sales market. The most promising sectors in the country are: agri-food & horticulture, the clothing industry, healthcare, and the logistic sector, respectively.
Are you interested in exploiting the many benefits that the Cambodian market has to offer? Through tailor-made research and more than 30 years of experience, IBR would like to explore your company’s opportunities in Cambodia with you.