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WEBINAR: CAMBODIA – AN OVERLOOKED DESTINATION FOR INVESTMENT AND BUSINESS
June 30, 2022 @ 9:30 am - 11:30 am
Quick links in this document:
- Date & Time
- Synopsis
- What you will learn from this Webinar
- Did You Know…
- About the Speakers
- Webinar Flyer
- Other useful info that might be of interest to you
- How to sign up
Date & Time:
The webinar will be conducted on 30 June 2022 (Thursday) from 8:30 – 10:30AM (Cambodia Time / GMT+7) or 9:30 to 11:30AM (Singapore Time / GMT+8)
Synopsis:
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. 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.
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)
Did You Know…
- Businesses in Cambodia can be 100% foreign-owned?
- There is no restriction on the remittance of profits/capital gains out of Cambodia?
- Under the new Cambodian Law on Investment, it takes only 20 working days for Council for Development of Cambodia to process an investment application?
- A business can be exempted from profit tax for at least nine years if it is a Qualified Investment Project (QIP)?
- Under the Cambodia Industrial Development Policy 2015-2025, Agro-industrial production for export and domestic markets is one of the prioritized sector for FDI?
- Foreign investors are not discriminated in any way in Cambodia
- Manufacturing/production facilities in Cambodia can enjoy tariff exemption on exports (depending on the types of products) to countries that extend such schemes to the Kingdom, such as EU’s Everything But Arms (EBA), US’s GSP, etc?
About the Speakers:
Mr. Michael Tan: Founder Director AQUARII SG PTE LTD & CEO of AQUARII BD CAMBODIA
Mr. Michael Tan is Aquarii’s Founding Partner and a member of the board of directors in Singapore and Cambodia. He has over 20 years of experience in Asia. Prior to establishing Aquarii, he was the Singapore Ambassador to Cambodia from 2016 to 2020, where he took an active role to promote trade, collaboration, cross-border business partnerships, and knowledge-sharing between the two countries. Michael has served in several overseas assignments in Myanmar, South Korea & Japan. Michael has been the key driving force in formulating the strategic direction and development of the Aquarii SG’s business, including Aquarii’s expansion into Cambodia. Michael is based in Cambodia and leads the executive management team in Aquarii BD Cambodia as its founder and CEO.
Mr. Ong started working in the financial sector in 1977, first as a Money Broker and then, after a year, with Standard Chartered Bank, as a Management Trainee. For 25 years with the Bank, he had been through all aspects of Commercial Banking, apart from the Treasury function and he ended his banking career as Country Manager for the Bank in Cambodia in 2002. This was after being the Bank’s Chief Representative in Myanmar and before that, Regional Manager, Asia Pacific Region covering Financial Institutions. Almost immediately after that, he joined Phillip Securities Pte Ltd and had covered various functions, including a stint in Phillip Securities Thailand PLC as its Ag CEO and was last, the Director OTC Capital prior to being assigned to KREDIT Microfinance in 2012.
Mr. Ong is a graduate from the University of Singapore with a Bachelor of Business Administration and an Associate of the Chartered Institute of Bankers since 1978.
Kelvin is currently the CEO of Singbuild Construction and also the COO of Le Urban Eco Park, in Phnom Penh Cambodia. Kelvin oversees all the daily operations and management of Le Urban Eco Park. Le Urban Eco Park was conceptualised in 2014 and the concept behind the USD20 Million project was to build a mixed-used Industrial Park comprised of Residential; Commercial & Industrial Developments with the concept of being Eco-Friendly in all of the developments. Fast forward to 2022, Le Urban is proud to showcase its Residential; Commercial & Industrial products to the world. Its industrial buildings received the Singapore BCA Green Mark Gold Certification. The market valuation of the Industrial Park today is valued at USD50 million. Le Urban Eco Park is majority owned by Mr Albert Ang Boon Chong and Mr Raymond Chua Swee Wah, who is Kelvin’s Father-in-law and Father respectively.
Mr Murray Ko is a successful entrepreneur in Hong Kong and Cambodia whose core businesses among his varied investments include real estate and textiles. He founded Meridian International Holding (www.merdian-international-holding.com) in Cambodia in 2015 and has built up a portfolio of quality land reserve in Kampong Cham, Chroy Changvar, and Kandal Province. The highlights in its property development in Phnom Penh include CASA by Meridian, SKYLAR by Meridian, and FLATIRON by Meridian. Mr Ko has also established CKHG (www.CKHGConsult.com) in 2019 as a one-stop corporate consultancy service to provide comprehensive advice and solutions to the international business community in Cambodia. The diverse services of CKHG include virtual office / co-working space, warehousing, office support and administration, accounting and advisory on tax and local regulatory requirements.
Moderator: Mr. Harrison White- CEO of Cambodia Investment Review
Born and educated in Australia, Harrison White has worked in South East Asia’s media and communication sector since 2018 after being selected for the Australian Governments Department of Foreign Affairs and Trade New Colombo Scholarship program in Vietnam.
Harrison currently runs the online news platform he founded in 2021, www.CambodiaInvestmentReview.com, licensed by Cambodia’s Ministry of Information focuses on business and investment news in Cambodia from an international perspective.
In addition, Harrison also consults with both public and private enterprises to assist in the promotion of investment initiatives, free trade agreements, new economic policies, and more to an international and regional audience.
If you wish to disseminate the details of this webinar, right click to save the flyer below and forward it to your friends.
Other useful info that might be of interest to you:
- Setting up Business in Cambodia: preliminary understanding of crucially relevant laws, regulations, norms, and practices pertinent to setting a legal business entity in Cambodia.
- Dashboard to Cambodia: a quick overview / a better sense of the business landscape of Cambodia.
- Business Directory: a comprehensive and curated useful information on Cambodian and the business / investment environment.
- Classified: a digital market place for local and international business to post and search for opportunities to buy and sell businesses, or to seek out investments and partnerships.
- Biz Tools: a utility tool for businesses or investors to estimate the preliminary start-up costs for the establishment of a business in Cambodia.
How to sign up:
The webinar is free of charge. To sign up, click here or the Register Link below and provide your basic information. We will send the webinar’s access link to the email address provided.
