Cambodia: Trade and Investment Profile
Cambodia is located at the heart of what has been the most dynamic region of the world economy for the past several decades. Cambodia has enjoyed over two decades of robust growth, with rising foreign investment and deepening integration into global and regional value chains. The country—once dominated by civil war and conflict—is now politically stable and increasingly making its mark as the world’s eighth-largest rice producer, Asia’s 10th largest garment exporter, and a rising tourist destination.
Cambodia has come a long way in a very short period demonstrating the resilience of this society. It was not so long ago that the Khmer Rouge controlled parts of Cambodia, and safety and security were critical issues. Today, security goes unmentioned when the private sector is asked to voice its concerns and the marvels of Angkor are almost fully (and safely) accessible to tourists. Although most formerly closed economies are now increasingly market-oriented, Cambodia has embraced economic reform with an unusual firmness. A business-friendly Government in a country that lies at the heart of the only region in the developing world that has shown clear promise of graduating from the development class has much to offer to investors ready to brave the challenges that an underdeveloped economy invariably offers.
Yet Cambodia faces considerable challenges. It suffers from major infrastructure deficits; limited skills development and education quality; and weaknesses in governance. For a successful transition to a modern industrialised economy, Cambodia needs to diversify and upgrade its productive capabilities. There are many example of successful trade and investment opportunities in this emerging economy.
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