This month’s edition covers investment, business, trade and other sectoral updates, with a foreword by Mr. Michael Tan, which is also included below.
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Business & Investment in Cambodia 2022
Foreword from Mr. Michael Tan:
“As 2022 draws to a close, which has been described by many as the Post-COVID recovery year, the Kingdom of Cambodia appears to be ending on a more optimistic note with reports in December of higher export volumes and trade figures with its trading partners, and having recorded more robust FDIs and an uptick in the number of non-SEZ projects.”
“Although the World Bank forecasts a 5.2% economic growth for Cambodia in 2023, its caution of headwinds ahead is in line with general sentiments that the global economic outlook in the new year remains gloomy at best. Businesses and investors should anticipate more thundery showers and expect an overall turbulent ride in the new year, with the long tails of disruptions in logistic and supply chain, rising protectionism amidst increasing geopolitical uncertainties, among other known unknowns and unknown knowns, to weigh heavily on the external environment that Cambodia relies on for its trade and FDIs.”
Looking forward to business and investment in Cambodia 2023
“Nevertheless, as one of the most open and business-friendly emerging economies in the Asia Pacific region, the Royal Government of Cambodia looks set to continue its pursuit of FTA partners, open new trading / export markets, reform its national policies and continue its commitment in green solutions and renewables.”
“If anything, 2023 will be an exciting year for Cambodia as it gets ready for the National Assembly Elections – which incidentally is the only country, or at least one of the very few, whose election is predictably set to be in the same window every 5 years of the mandate – which will set the stage for the next generation of leaders to take the Kingdom and its people onto a path towards becoming the next ‘Tiger’ economy of the region.”
“On behalf of my team at Aquarii, I wish all our partners, friends and supporters, a happy, safe, healthy and successful year ahead. Michael Tan.”