(+) High GDP growth over the past two decades
(+) Low cost of labor and cost of living
(+) Strong textiles and tourism industries
(+) Potential future manufacturing hub
(-) Complex regulatory climate & widespread corruption
(-) Inadequate infrastructure
(-) Relatively unskilled labor pool with limited English
“Driven by garment exports and tourism, Cambodia’s economy has sustained an average real growth rate of 7.7% between 1998 and 2019, making it one of the fastest-growing economies in the world.”
Population:
GDP:
GNI per capita:
Industries:
Tourism:
#144/199
#162/180
45%
10.5 M
$1.5k USD
#84/100
32% of NY
Ease of Doing Business
Corruption Perceptions Index
Human Capital Index
Working Age Population
Household Expenditure Per Capita
English Language Capabilities
Cost of Living Plus Rent Index
Per capita expenditure:
$1,560 USD
52% (Southeast Asia 69%)
Shop online:
32.9%
125%
Primary messaging:
Facebook Messenger
Primary website:
Relevant Laws:
Law on Commercial Enterprise, 2005
Time to Incorporate:
Approximately 2-3 months depending on business entity and employees; requires multiple steps to include registration with the Ministry of Commerce, Ministry of Labor, and General Department of Taxation, plus obtaining appropriate licenses; fees vary.
Paid-in Capital:
Normally $1000 must be deposited in a local bank
Taxes:
National Bank of Cambodia must clear transfers of more than $10k; taxes include an annual patent tax based on company size, 20% profit tax, a 1% minimum tax on revenue, 10% VAT taxes, a salary tax up to 20% for employees, and a 10% rental withholding tax.
Restrictions:
100% foreign ownership is possible; foreign companies cannot own land, produce pesticides or other toxic chemicals, or exploit forest resources.
BBA does not have a physical presense in Cambodia, but BBA can assist companies across many sectors and find trusted local partners