Cambodian Business Benefits
Breaking away from its troubled past and emerging as a prime business location, Cambodia, as a country, has become an enabler for businesses of all kinds hoping to branch into ASEAN markets. Its location between Thailand and Vietnam makes Cambodia ideal to play the role of entrepot and, as it is situated on the Gulf of Thailand, provides easy access for maritime trade options to India and China. With one of the highest growth rates of the ASEAN nations, Cambodia’s open economy is also an important factor when compared to its neighbouring countries.
The countries technological advances and the network of user-friendly, business-focused applications that the Government is continuing to develop helps both local and foreign businesses streamline many processes that were previously time-consuming and expensive.
Example: For importers and exporters, a new National Single Window (NSW) was recently launched to strengthen government-to-government, government-to-business, and business-to-business relationships. Its purpose is to save traders time, reduce unofficial expenses and encourage trade through a simplified online documentation process.
Production facilities and costs in Asian countries have always been a draw for manufacturers and that continues to be an important part of the Cambodian Government’s focus. They do this by encouraging foreign investment, which, in turn, helps local and foreign companies create profitable and sustainable businesses to further the individual wealth of the people of the country. 100 percent foreign ownership of manufacturing facilities in most zones, favourable tax benefits and rapidly improving distribution facilities make Cambodia ideal for Foreign Direct Investment (FDI) within the manufacturing industry.
Cambodia has a population of around 16 million with 8 million being active internet users. Social media is popular, around 7 million accounts being active, and growing. Around 80% of internet usage is mobile.
The internet coverage throughout Cambodia is extensive, users are rarely in a situation where there is no network access. The investment in communications infrastructure by the Government offers stability and opportunities to online businesses for development, manufacturers and retailers can offer online product ordering, and larger corporations will have no issues with international communications or intranet connections.
Cambodian Real Estate -Location Location Location
The location of your facilities, whether it be a manufacturing plant, offices, or retail premises is vital to your success. You need to make sure that your office is one that will support your team and allow you to succeed.
Some points to remember.
Make sure you have access to major roads and airport/ports if product distribution is a requirement of your business. The roads in Cambodia are not the greatest but they are improving as the Government upgrades the countries transport facilities. Please bear this in mind, roads will improve very quickly.
Choose a location that your team and any prospective clients can commute to.
Is secure parking a requirement?
Are there nearby amenities? close to restaurants and coffee shops.
Is there a bank or ATM nearby for those times when monetary transactions are required?
Ensure you understand the lease and your obligations.
Are you responsible for repairs?
Who will be your contact in an emergency situation such as flooding?
Is the IT infrastructure in place for your daily work requirements?
What other financial obligations will you have?
Phnom Penh Office Rentals
Phnom Penh is the largest and most desired business location in Cambodia due to its superb airport and port which makes connections to Vietnam, Thailand, Laos and Singapore, and, via sea to China extremely simple and attractive for potential expansion in the ASEAN markets. Real estate investors have recognised the strategic location importance and have built some truly remarkable office buildings in the capital. These modern, or modernised, buildings offer everything an expanding business could need. Excellent IT facilities, prestigious locations and the availability of services to facilitate a successful move are on the rise almost weekly. Technical, legal and marketing services are catered for as more and more professionals move to Cambodia to meet demand.
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Property Consultancy & Research Services
Knight Frank Cambodia’s consultancy and research department is a multi-disciplinary team of analysts who combine in-depth market research industry knowledge to assist clients with their real estate investments in Cambodia and across the globe.
Offices For Rent In Phnom Penh
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