‘Doing Business in Cambodia Guide’ Launch
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Fri, 23 Feb. 2018
Institute of Export
The ‘Doing Business in Cambodia Guide’ is now officially live and can be accessed via www.Cambodia.DoingBusinessGuide.co.uk.
The main objective of this Doing Business in Cambodia Guide is to provide you with basic knowledge about Cambodia; an overview of its economy, business culture, potential opportunities and to identify the main issues associated with initial research, market entry, risk management and cultural and language issues. Novice exporters, in particular, will find it a useful starting point. Further assistance is available from ourselves here in the UK, and the Department for International Trade (DIT) team in Cambodia. Full contact details are available in the guide.
To help your business succeed in Cambodia a variety of essential service provides have been carefully selected as ‘Market Experts’; BRED Bank Cambodia, Cellcard, Grant Thornton (Cambodia) Limited, Infinity General Insurance, Royal Cambodian Limousine Services Co. Ltd, Saint Blanquat & A., The Royal Group of Cambodia and AST Language Services.
The guide has been produced by International Market Advisor, in partnership with the Institute of Export & International Trade, and with support from the British Embassy Phnom Penh, BritCham Cambodia and the UK-ASEAN Business Council (UKABC).
Five things to know about exporting to Cambodia:
- Cambodia is one of the fastest-growing economies in Southeast Asia and currently ranks 11th in the world in terms of high GDP growth over the last decade. With a forecasted 7% economic growth per year for the next five years and a rapidly growing consumer class that is earning triple the average income, it is an attractive market to invest and do business in.
- The US Dollar is the main currency used in Cambodia. Prices in hotels, shops and restaurants are quoted in US dollars. Cambodian Riels are used only as small change at a rate of around 4,000 Riels/US $1.
- Significant opportunities are available for businesses in a number of different sectors. UK companies are finding opportunities in education and vocational training, construction, manufacturing, retail, automotive, agribusiness, tourism and the financial/professional services.
- Cambodia is one of the least populated countries in ASEAN with around 88 people per square kilometre.
- Cambodia has a geographical advantage in terms of position and access to regional markets. The Mekong and Tonle Sap rivers run through the country and play a vital role in the nation’s economic success by providing transportation routes and sustenance.
To view the publication, please click here.