The European Chamber of Commerce in Cambodia (EuroCham) says it sees the country as a “great gateway” to Asia as it becomes more integrated into the regional and global economy.
In the chamber’s latest investment guide, EuroCham chairman Tassilo Brinzer says: “Cambodia continues to be a largely untapped market with investment and business opportunities in many areas of its burgeoning economy.”
Brinzer says 2020 was “undoubtedly challenging” for Cambodia with the COVID-19 pandemic. But “the country’s GDP is expected to recover quickly,” he says, highlighting the 5.9 percent growth forecast by the International Monetary Fund for this year.
“Even more importantly, we believe the future, driven by a young and dynamic society, looks bright too.
“For investors already active in South-East Asia, Cambodia is a promising ‘+1 market’ in the heart of the Greater Mekong Subregion, conveniently located between regional economic giants Thailand and Vietnam.
“New investors, moreover, will find Cambodia to be a great gateway to Asia.
“The country is becoming more integrated into the regional and global economy, for example through ASEAN customs initiatives and bilateral free trade agreements (FTA), such as the recent Cambodia-China FTA.
“New laws such as those on e-commerce, consumer protection and investment, are also testimony to the promising steps this country has taken.”
Brinzer says Cambodia’s embracing of climate change and sustainability goals “will further boost the Kingdom’s economy and attractiveness to global economic actors.”
Eurocham says research for the 60-page guide released this month took place between December and February.
“This unsaturated market, with a strategic location and favourable demographics, has huge potential for future growth,” the chamber says.
Eurocham’s founding chambers and national chapters are the Chambre du Commerce et de l’Industrie France du Cambodge, the British Chamber of Commerce in Cambodia, Nordcham Cambodia, German Business Group Cambodia, the Italian-Cambodian Business Association and Benelux Cambodia.
Source: Agency Kampuchea Press