Why Cambodia is a good business destination?
The attractive reasons behind the prosperity of the economy in Cambodia remain on the frontline for foreign investors to consider. Cambodia is special in particular grounds for business to collaborate and cooperate as contributing to many positive outcomes to gain more revenue and profit for which companies that invest in the Kingdom.
Undeniably, Cambodia provides many great opportunities for an investor in various terms. As one of the developing countries, Cambodia needs more gaps to fill for the huge demand from people and the country and international needs.
This article will elaborate further regarding the specialties of Cambodia in terms of the economic corner, including strategic location, the advantage of labor forces, and potential economic factors.
1. Strategic Locations
Located in Southeast Asia and gained enough potential requirements, Cambodia had a great opportunity to join one of the best regional organizations in the world, the so-called ASEAN. ASEAN community contribute much effort to economic factor in its national members, including the opportunity to connect smoothly to the outside world. By connecting to the globe, each nation receives numerous occasions to cooperate with superpower countries and international business companies. The visible instance about benefits of Cambodia from ASEAN is ASEAN Free Trade Area (AFTA) was created to lowering of the intra-regional tariff. In the case of Cambodia, there are 66 Cambodian products that have a lowering tariff to 0-5 percent.
Therefore, investors who contempt and intend to have their products export to particularly ASEAN nations, should consider setting up here in Cambodia. However, not only for consumers in ASEAN, the international market also provides many opportunities for ASEAN nations as well.
2. Advantage of Labor Forces
Talking about the labor force in Cambodia, we should put this into the advantages category. Labor here in the Kingdom is quite low costs for investors to spend. Additionally, many potential youths are finding a proper job for themselves. Most students who graduated from University remain unemployed because the job market in Cambodia is still tight for them. Some people, even, migrate to bordered countries to find a job opportunities. So, needing workforce and labor, Cambodia offers a good place for investors to contempt.
3. Potential Economic Factor
Cambodia has been considered as a developing country to be able to strengthen economic factor to rapidly grown in the recent decade. There are many sectors, including real estate, agriculture, tourism, and garments, that have provided huge benefits for Cambodia to enhance the economic sector to grow unexpectedly. Therefore, for this economic resilience, investors have been granted an opportunity to invest to gain much revenue and profit.
Due to these specialties, Cambodia is great for the business adventure of the investor to give and to gain. Strategic locations, benefits of the labor force, and potential economic factors are needed to consider in case business owners want to invest in Cambodia, since all of these are advantages for investors.