Introduction from Ross Hunter, Executive Director, UK-ASEAN Business Council
Cambodia is among the fastest growing economies in the world, averaging just over 8.2% annual growth for more than a decade. Its young population – half under the age of 25 – is tech-savvy, ambitious and with an increasing awareness of the world outside of Cambodia. This awareness shapes their preferences for how they want to live, with all the choices and commodities of a middle-income society.
Cambodia has some distinct benefits for UK exporters: you can own a company without a joint venture local partner, and the Royal Government of Cambodia is very welcoming of foreign investment. However, it can be challenging to find qualified local management and a professional workforce, so companies should be prepared to be hands-on and plan to provide education and support for local teams.
We work closely with the Department for International Trade (DIT) and British Chamber of Commerce (BritCham) in Cambodia, based in Phnom Penh who, as your in-market partners, are vital to helping you understand, navigate, and really connect to the business environment.
Some of the key focus sectors for Cambodia include agri-tech, education, healthcare, and infrastructure, but across all sectors this is a great time to build brand loyalty and visibility in this remarkable emerging market. Now is the time for UK brands to step in and stake their claim on Cambodian mind share and market share.
Cambodia is a great place to invest right now: a high growth economy, a young and energetic population, and increasing competence in English-language skills within the workforce. Through the UKABC and Institute of Export here in the UK, and the BritCham in market, we are all here to help more UK companies consider, explore, and invest in Cambodia’s largely untapped export potential.
Executive Director, UK-ASEAN Business Council
comments powered by Disqus