Over the last two decades, Cambodia’s economic transformation has been nothing short of remarkable. It has achieved consistent GDP growth, powered by diverse sectors, including manufacturing, agriculture, and tourism.
Cambodia’s strategic location within Southeast Asia positions it as a gateway to the wider region. This has made it an attractive destination for businesses looking to access dynamic markets such as Thailand, Vietnam, and China.
The government’s concerted efforts to develop infrastructure, such as highways, ports, and special economic zones, have significantly improved connectivity and logistics within the country.
Country Information
- Head of State: His Majesty King Norodom Sihamoni
- Prime Minister: Hun Manet
- Capital City: Phnom Penh
- Total Population: 16,999,253
- Languages: Khmer, Vietnamese, Chinese, English
- Religions: 80% Theravada Buddhist, 1% Christian, majority of the remaining population follow Islam, atheism, animism
- Monetary Unit: Cambodian Riel (KHR)
- Natural Resources: Iron ore, copper, gold, natural gas, gemstones
- Major Exports: Textile goods, vehicles, footwear, natural rubber, fish
- Major Imports: Petroleum products, fabrics, vehicles, wholesale yarn, cigarettes, electrical communications equipment and medicine
One of the key catalysts for Cambodia’s economic resurgence was its accession to the World Trade Organization (WTO) in 2004. This membership opened doors to international trade, and the nation embraced the opportunity by boosting exports and diversifying its products.
The result? A thriving economy that continues to attract foreign investors, including those from the UK.
Cambodia’s geographic location offers strategic access to ASEAN markets. As a member of ASEAN, Cambodia provides a gateway to over 16 million consumers in the region.
Its consistent economic growth, averaging around 10% over the past decade, presents immense opportunities for UK businesses looking to expand their operations.
Cambodia has adopted several business-friendly policies to attract foreign investors, including tax incentives and simplified regulatory procedures.
It benefits from preferential trade agreements, including the Everything But Arms (EBA) initiative and the ASEAN Free Trade Area (AFTA), which provide UK enterprises with tariff-free access to markets.
Cambodia’s remarkable economic transformation and the plethora of advantages it offers to foreign businesses are hard to ignore.
With its vibrant and expanding market, pro-business policies, and strategically positioned economy, Cambodia stands as an alluring destination for UK enterprises seeking new horizons.
