Cambodia’s business community is hoping more international investors will travel after the government today changed quarantine requirements to only three days for vaccinated business travelers.
According to new regulations foreign fully vaccinated travelers who are investors, business people, experts with guarantees or invitations will now only be required to quarantine for three days.
Non-vaccinated business travelers will still have to go through the mandatory 14-day quarantine.
To obtain a visa to enter Cambodia, potential investors must have a guarantee or invitation from a local partner who is a legal entity, proper registration and payment of taxes in Cambodia.
Registered companies can apply for an invitation through www.registrationservices.gov.kh for investors, business people or experts.
However, there are still requirements of $2,000 deposit or hotel guarantees, COVID insurance as well as longer quarantine requirements for positive rapid tests and localized treatment if COVID positive.
Cambodian investment has been impacted due to COVID restrictions on travel with bilateral trade falling between some countries.
Dalton Wong, Indonesian Chamber of Commerce President told Cambodia Investment Review that the quarantine requirements have greatly impacted international investors, including Indonesian’s, ability to conduct business.
He added, Cambodia now has one of the world’s highest vaccination rates and it was great timing with the current push by his new chamber to help boost the bilateral trade between the two countries.
Local start-up companies have also been hit unable to finalize investment deals due to the issues with requirements for travelling in and out of the Kingdom to meet potential investors.
Max Thornton, Co-Founder of Cambodia’s highest ranked business and entrepreneur podcast Rising Giants, told Cambodia Investment Review that reduced travel requirements will be great for potential investors looking to the Kingdom.
“The reduced quarantine for business travelers will clearly open up opportunities for SMEs and startups to attract capital from international investors that are keen to come to Cambodia and get up to speed on the ever-evolving opportunities here,” Thornton said.
Asian Development Bank has forecast 5.5% growth in 2022 after downgrading this year’s forecast to 1.9% – down from 4.0% in its April outlook.
Oknha Lim Heng, Vice President of Cambodia Chamber of Commerce previously told Cambodia Investment Review that 2022 should provide a quick rebound.
He said once the national vaccination drive is completed it will provide a good opportunity to attract to more investment into Cambodia.