Cambodian Prime Minister Hun Sen informed investors and business people five potential reasons to invest in Cambodia, speaking at the Sri Lanka-Cambodia Business Forum, held Wednesday at the Sofitel Phnom Penh.
The five potential features include:
First, political and macro-economic stability: after 1979, Cambodia worked very hard, using one hand to prevent the return of the genocidal regime and the other to develop the economy from scratch. Back then, the country was unfairly surrounded by external forces, which persisted until the end of the civil war in late 1998 through the introduction of our “win-win policy.” Efforts to develop the country over the past 40 years have transformed Cambodia’s status on regional and international stages. Today, Cambodia has political stability, peace and macro-economic stability — the foundations to attract more business people and investors as our development partners.
Secondly, economic openness: Cambodia welcomes investors without discrimination between Cambodian and foreign investors. Cambodia provides 100% investment on sectors, including banking, insurance, and telecommunications. Cambodia still has tremendous potential for the development the financial sector, including increasing the depth of financial intermediation, improving the insurance industry, and developing the securities market.
Thirdly, a resourceful and young labor force: Cambodia is enriched with young and potential labor force, in which 35-year-old group accounts for 72% of the total population, and that the kingdom has a competitive wages.
Fourthly, strategic location in ASEAN: Cambodia is located in a region that is becoming the “factory of Asia.” Manufactured goods in Cambodia are not only supplied for Cambodia market with just over 15 million people but can supply to the Mekong Sub-region with about 250 million customers and to ASEAN market with approximately 630 customers, most importantly to Regional Comprehensive Economic Partnership Agreement (RCEP) with a population of approximately 3 billion.
Lastly, potential for cultural and natural tourism development: Cambodia is blessed with cultural heritage, natural resources and historical heritage as well as beautiful beaches, rivers, lakes and forests attractive for domestic and international tourism.