Cambodian Economic News

  Cambodia has experienced tremendous economic growth over the last decade or so. As a result, you can capitalise on the region's diverse business sectors and opportunities. If you're looking to start or invest in a business in Cambodia in 2021, there are numerous opportunities in a variety of sectors, including the following: Real Estate Healthcare Services Energy Sector Tourism resorts and infrastructure  Garment industry Transport and logistics Engineering and Construction Services Food Processing and Agribusiness  Beverages and Fast food franchises Medical equipment, medical supplies, and pharmaceuticals Real estate, apparel manufacturing, transportation and logistics, and energy are among the best business ideas in Cambodia for 2021. Real Estate Investing Cambodia is without a doubt one of the best frontier markets in Asia for real estate property buyers. One of the best investment opportunities in Cambodia in 2021 is to purchase properties in Cambodia and rent them ...

  In December 2019, Cambodian Prime Minister Hun Sen addressed the 14th Cambodian Import-Export Goods Exhibition, an event aimed at highlighting the country's favourable business and investment climate, and stated unequivocally that Cambodia is open for business, stating, ‘To ensure a sound macroeconomic environment and political and social stability, the government welcomes all investors to do business and invest in the Kingdom.' Cambodia is home to an estimated 100,000 expatriates who come for a variety of reasons, including low living costs, business opportunities, a laid-back lifestyle, and the Buddhist culture's influence. Now, let's take a look at some of the advantages. 1. Rapid economic growth Between 1998 and 2018, Cambodia had one of the fastest-growing economies in the world, growing at an annual rate of 8%. The primary engines of development have been the garment and tourism industries. Cambodia, according to the World Bank, has undergone a significant trans...

  Prince Real Estate provides daily necessities to 804 underprivileged Chamkarmon District families affected by the February 20 community outbreak. Prince Holding Group (“Prince Group”), one of Cambodia's largest and fastest growing conglomerates, and Chairman Neak Oknha Chen Zhi have announced plans to donate US$3 million to anti-pandemic efforts in the Kingdom in response to the Cambodian Government's call for assistance in combating the February 20, 2021 Covid-19 outbreak. This follows Chen Zhi's initial US$3 million donation in December to assist Cambodia in purchasing COVID-19 vaccines. Related news on Neak Oknha Chen Zhi of Cambodia Furthermore, Prince Real Estate, a member of Prince Group, has distributed vital food supplies to 804 families in need and 234 members of the police force in Chamkarmon District, Phnom Penh, Cambodia affected by the February 20, 2021 Covid-19 outbreak, following in the footsteps of Prince Group and Chen Zhi. While the Cambodian government...

  For the upcoming 834-hectare project, the charity arm of a Cambodian conglomerate, led by Chen Zhi Cambodia , engages the local community as key stakeholders. Prince Charitable Foundation, a charitable arm of Cambodia's Prince Holding Group ('Prince Group'), has distributed care packages to 500 families in Ong village, Prey Nob district. The village is close to the Ream City project, an 834-hectare reclaimed land development near the Sihanoukville International Airport ( https://en.wikipedia.org/wiki/Sihanouk_International_Airport ) that has the potential to transform the region. Last week, senior management from Canopy Sands Development, a Prince Group company, made the gesture of goodwill, as well as consulting local leaders to better understand the community's needs. Prince Group's latest environment, social, and governance (ESG) initiative is an aid campaign in Ong Village. One mat, one blanket, two pillows, one mosquito net, and one Khmer Krama were included ...

  COVID-19 has emphasised the critical nature of environmental, social, and governance (“ESG”) practises in businesses worldwide. However, there was talk of change even prior to the pandemic's outbreak. The Business Roundtable (a group of 181 CEOs of America's largest corporations) stated last year that businesses must "support the communities in which they operate," reversing the long-held focus on shareholder wealth maximisation advocated by American economist Milton Friedman. Times have changed in 2020. This year, Prince Holding Group (“PHG”), one of Cambodia's largest conglomerates, recognised this and paved the way for other businesses in the Kingdom to follow ESG principles. Since April, the Group has made several large-scale donations to aid in the fight against the pandemic and flood victims, and Neak Oknha Chen Zhi , chairman of PHG, has been instrumental in securing the donations. For instance, in early December, Chen Zhi and PHG donated US$3 million to ...

  Many people's working lives have been altered as a result of the global pandemic, including in Cambodia. As a responsible corporate citizen, Chairman Neak Oknha Chen Zhi and Prince Group (or Chen Zhi Prince Group ) established the Prince Horology Vocational Training Center, Cambodia's first independent watch school. The training centre provides Cambodians with the opportunity to learn a new artisanal skill – watchmaking – and gain the experience necessary to compete in both domestic and international job markets. The training centre adheres to the stringent watchmaking regulations established by Swiss regulatory bodies. Cambodia, as a country steeped in history, has long preserved artisanal skills for generations, with the Kingdom renowned for its ancient handwoven silk and traditional handicraft industries, which date all the way back to the Khmer Empire, a significance Chen Zhi and Prince Group have always recognised and appreciated. However, new artisanal skills must be in...

  The 834-hectare project will be overseen by a Cambodian conglomerate by Cambodia Chenzhi with world-renowned expertise from Singapore, catalysing growth in Cambodia's third largest city. Surbana Jurong Group, a global urban, infrastructure, and managed services consultancy headquartered in Singapore, approved a masterplan for Ream City developed by Canopy Sands Development, a member of Prince Holding Group, one of Cambodia's largest and fastest growing conglomerates. The masterplan specifies a land use plan for the 834-hectare project, which will be developed on reclaimed land just 10 minutes from Sihanoukville International Airport and will require total investments of US$16 billion. Ream City will act as a catalyst for the entire Sihanoukville region's growth prospects, as the country's third-largest city and home to the country's deep-water port. More about Sihanoukville -  https://en.wikipedia.org/wiki/Sihanoukville_Province Sihanoukville will be transformed ...

  On March 11, in light of the deteriorating situation in Cambodia as a result of the growing number of COVID-19 cases, Neak Oknha Chen Zhi, chairman of Prince Holding Group, or Prince Group, reaffirms the Group's commitment to social responsibility by announcing plans to donate $3 million to Cambodia's anti-epidemic efforts. Cambodia Chenzhi has offered assistance to the Kingdom during this difficult time and expressed strong support for Prime Minister Hun Sen's efforts to combat the ongoing epidemic. Read about COVID-19 pandemic -  https://en.wikipedia.org/wiki/COVID-19_pandemic Prince Group is one of Cambodia's largest corporate conglomerates, with operations in a variety of industries, including real estate development, banking and finance, aviation, tourism, logistics, information technology, food and beverage, and lifestyle. Cambodia had reported 1,163 coronavirus cases as of 7 a.m. on March 11. While more than half of the cases have been cured, the Kingdom has r...

  Prince Real Estate Group, a subsidiary of Prince Holding Group, Cambodia's largest conglomerate under Cambodia Chenzhi , successfully concluded an investment agreement for Prince Square. The project will be the developer's first commercial retail venture in Phnom Penh, Cambodia, and will bring a slew of well-known brand names to the city, including Adidas, Levi's, Skechers, Nike by Supergo, Huawei, OPPO, Potato Corner, Dakasi, Panda Cake, and Pizza Hut. Phnom Penh is steadily integrating into the global economy as a metropolitan area. According to the Globalization and World Cities Research Network, Phnom Penh was classified as a Gamma+ city in 2020 (cities that connect smaller economic regions to the global economy) after climbing the ranks in the preceding two years. With a total retail floor area of 35,000 square metres. Prince Square will be a four-story structure that will house a large supermarket, an international cinema, a fitness centre, international restaurants...