With economic growth of around 7% in recent years – the highest in ASEAN -- Cambodia is an attractive investment destination for businesses looking to expand in the region. This positive outlook is expected to continue, supported by strong growth in the garment industry and tourism sector in particular.
Cambodia offers a wide range of incentives for investors, including corporate tax exemption of up to eight years and complete duty and tax exemption on imports and exports for most industries. Such incentives, combined with the country's advantageous location, open investment environment, unrestricted foreign ownership and preferential access to major markets like the E.U. and U.S., make it an attractive destination for investors.
Foreign direct investment in Cambodia nearly doubled year-on-year in 2017, with Mainland China being the biggest investor in the past five years. In 2018, Chinese firms pledged an additional $7 billion in new projects, including a highway to connect the capital Phnom Penh with the coastal city of Sihanoukville.
To help members understand more about the country, Tommy Yip, representative of the Cambodian Consulate General in Hong Kong, will update members on the latest developments, as well as how to invest in the country's promising market. Yip possesses extensive experience in Cambodia's property investment sector and has also helped a number of Chinese manufacturers to invest in the Cambodian Industrial Park.
Ms Catherine Chan, Director of Goldfame Group & Urban Village, will share her experience in property investment, co-working space development and garment manufacturing in Cambodia. Chan manages one of the largest garment factories in the country, employing more than 30,000 workers. Urban Village is one of the biggest property developments in the capital of Cambodia, Phnom Penh.
Join our roundtable luncheon to learn more about this exciting and promising Cambodia!