Solid Economic Growth

Cambodia has been a standout performer in terms of economic growth. Over the past decade, it has consistently achieved an impressive annual growth rate of 7.1%¹. In 2024, the country’s economy is projected to expand by 6.5%, driven by several factors:

• Domestic and External Demand Recovery: As the world recovers from the pandemic, Cambodia’s economy is poised to benefit from increased demand both within the country and from international markets.
• Public Investment: The government’s commitment to infrastructure development and public investment will further fuel economic expansion.
• Trade Agreements: Cambodia’s participation in trade agreements, including the Regional Comprehensive Economic Partnership (RCEP) and the Cambodia-China Free Trade Agreement (CCFTA), provides preferential market access and tariff reductions for both exports and imports.

Strategic Geographical Location

Situated in the heart of Southeast Asia, Cambodia enjoys a prime location. It shares borders with Thailand, Vietnam, and Laos, and has access to both the Gulf of Thailand and the South China Sea. This strategic positioning enhances trade, logistics, and connectivity. Moreover, Cambodia’s membership in the Association of Southeast Asian Nations (ASEAN) further strengthens its regional ties.

Favourable Investment Climate

Cambodia welcomes foreign investors with open arms. Here’s why:

• Liberal Policies: The country imposes no restrictions on foreign ownership, capital repatriation, or currency exchange.
• Young Workforce: A low-cost and youthful labor force makes Cambodia an attractive destination for businesses.
• Supportive Legal Framework: Investors benefit from a supportive legal environment.
• Incentives: Tax holidays, duty exemptions, and investment guarantees sweeten the deal.
• Ease of Doing Business: Cambodia ranks 144th out of 190 economies in the World Bank’s Ease of Doing Business 2023 report¹.

Abundant Natural Resources

Cambodia’s wealth extends beyond its economic growth. The country boasts:

• Rich Agricultural Land: Opportunities abound in agriculture and agribusiness.
• Untapped Minerals, Oil, and Gas Deposits: Potential for resource-based investments.
• Renewable Energy Sources: Hydropower, solar, wind, and biomass contribute to Cambodia’s green economy vision.

Infrastructure Development

Cambodia is investing heavily in infrastructure, including roads, ports, and energy projects. This commitment to development ensures a conducive environment for businesses to thrive.

Conclusion

In 2024, Cambodia stands as a beacon of opportunity. Its robust economic growth, strategic location, investor-friendly policies, and abundant resources make it an ideal choice for those seeking dynamic and emerging markets. Whether you’re eyeing manufacturing, services, or renewable energy, Cambodia invites you to be part of its success story.