Cambodia Investment Review
Aquarii, with the support of the Singapore Chinese Chamber of Commerce & Industry and in collaboration with Cambodia Investment Review, Phillip Bank Plc, CKHG Consultancy, Singbuild Construction, and RHTLaw Cambodia, will be organizing a webinar on Thursday, 30 June 2022 entitled “Cambodia: An Overlooked Destination for Investment and Business”.
- Mr. Michael Tan: Founder Director of Aquarii SG & CEO of Aquarii BD Cambodia
- Mr. Ong Teong Hoon: Director and Shareholder’s Representative of Phillip Bank Cambodia
- Mr. Kelvin Chua: CEO of Singbuild Construction and COO of Le Urban Eco Park
- Mr. Ko Sek Yan Murray: Founder & CEO of Meridian International Holding & CKHG Consultancy
- Moderator: Mr. Harrison White CEO of Cambodia Investment Review
The webinar will be conducted from 8:30 – 10:30AM (Cambodia time) or 9:30 to 11:30AM (Singapore time) and is free of charge. To sign up, click here.
What you will learn from this Webinar:
- Cambodia’s investment potential and business opportunities
- What the Kingdom’s value proposition for investors are
- Local banking and financial requirements for businesses and the options available
- Insurance needs and capital flows involving foreign businesses
- Corporate support and secretarial services that foreign businesses grapple with
- Business registration, tax filing and related issues and challenges that confront businesses
- How to set up a manufacturing / production facility or commercial office, and what are the options available
- Other issues and topics that may be raised during the Q&A (Note: Questions can be fielded throughout the Webinar, and responses from our speakers will be provided at the last segment of the Webinar during the Q&A)
Over the past two decades, Cambodia’s economy has sustained an average annual growth rate of 7.7 percent between 1998 and 2019, making it one of the fastest-growing economies in the world and having attained lower-middle income status in 2015. It aspires to be an upper middle-income economy by 2030.
The World Bank described the Kingdom, despite having suffered three decades of devastating civil conflict, as having “achieved remarkable progress in reducing poverty and boosting shared prosperity”. Cambodia’s poverty line fell from 47.8% in 2007 to just 13.5% in 2014; annual FDIs averaged 13.9% between 2010 to 2020 when most emerging markets were in the low single digits.
Yet, Singaporean and other businessmen and investors seem blissfully unaware of Cambodia’s rapid socio-economic development. For those who have not visited the Kingdom before or have not re-visited the capital Phnom Penh in the past 5-7 years, they never cease to be taken aback at how the city is dotted with tall commercial and residential buildings, the number of large luxury vehicles on the roads, as well the many varieties of F&B establishments (from Japanese sushi bars to omakase, Korean BBQ, French bistros, sky bars, beer gardens and many more) that seem to have mushroomed throughout the capital.
In the meantime, investors and businesses from China, Japan, South Korea, Malaysia, Indonesia, France and Australia among others, have been taking advantage of the pro-investment and pro-business climate and incentives that the Kingdom offers.
To read more about Cambodia 2022 economic outlook click here.
The country too has suffered from the effects of the Covid pandemic, but the World Bank and ADB have projected a growth rate of between 5.2 to 5.5% for 2022. In fact, from the beginning of 2022, perhaps driven by a greater confidence in how the Royal Government of Cambodia has successfully managed the Covid-19 pandemic and were decisive in easing travel restrictions ahead of other countries, we have witnessed a noticeable uptick in interest from the larger business groups from some of these countries.
If you are considering expanding your operations, business or investment to a country in the Mekong region, but are not aware that Cambodia is a USD-denominated economy, there are no restrictions on the remittance of capital or profits, that businesses in Cambodia can be 100% foreign owned, or that investment projects (subject to qualifying terms and conditions) can potentially be exempted from tax on profit for at least nine years, then you have been missing out on the Kingdom’s potential and opportunities.
Join us to learn about Cambodia’s potential and the opportunities that investors and businesses have been missing out on. Find out from our Speakers the benefits and incentives in establishing their businesses or production facilities in the Kingdom, among other insights. To find out more click here.