A country of opportunities and a high-growth economy figures, Cambodia is now attracting investors from anywhere around the globe.
Foreign Direct Investment (FDI) has poured into the country since the end of the civil war in 1993. Last ten years, FDI has increased by more than 800 percent, while the highest GDP was $3 billion in 2018.
The daring investor in a variety of sectors should not pass up these opportunities, and why not act now?
According to the Economist and the IMF, annual average GDP growth from 2001 to 2010 was 7.7 percent, placing it among the world’s top ten countries with the highest annual average GDP growth. With arrivals increasing from 219,000 in 1997 to over 2 million in 2007, tourism was Cambodia’s fastest-growing industry. In 2004, inflation was 1.7 percent, with exports totaling US$1.6 billion.
Cambodia accepts US currency and uses it for nearly 80% of all transactions in the country. US dollar is used in the conjunction with the local currency, the Khmer Riel. The US dollar exchange is very reliable and stable. It facilitates business transactions between foreigners.
Country has a more lenient tax regime than most of its neighbors. Corporate tax rates are low, and filing requirements are straightforward. Furthermore, Qualified Investment Projects may be eligible for attractive tax breaks as determined by the CDC.
Workers in Cambodia are young and in large numbers. Some people lack fundamental skills, such as the ability to communicate in English. Foreigners in the education sector, on the other hand, aided in their development. They are eager to begin working in their respective fields. There is no shortage of workers and laborers in any industry.
Housing is inexpensive, and the cost of living is low. It is simple to start and operate a business. Foreign investment is encouraged and supported by the government. Key laws are enacted to benefit foreign investors who bring capital to the country. These are the reasons why Cambodia is Asia’s best destination for foreign investment.