Cambodia presents significant opportunities for business, with GDP growth projected at 6-7% in 2012 and 2013. It was recently named as one of the top 20 “hottest economies in the world”, based on World Bank growth estimates
The garment industry currently employs more than 300,000 people – about 5% of the work force – and contributes more than 70% of Cambodia’s exports. In 2005, exploitable oil deposits were found beneath Cambodia’s territorial waters, representing a potential revenue stream for the government when commercial extraction begins. Mining also is attracting significant investor interest, particularly in the northern parts of the country.
The tourism industry has continued to grow rapidly with foreign arrivals exceeding 2 million per year since 2007. More than 50% of the population is less than 25 years old
Cambodia offers one of the region’s most open economies to foreign investment. Low tax rates, investment incentives, and a one-stop-service for qualified investments all reflect the government’s commitment to attracting foreign capital.
Foreign direct investment companies can undertake the same business activities as Cambodian-owned companies, with the notable exception of land ownership, and may be eligible, as Qualified Investment Projects for a number of business incentives.