Connect2Grow: Investing in Cambodia to pay rich dividends

 


Singapore is an important investor and trade partner for Cambodia. So events like Connect2Grow, where companies, particularly SMEs and mid-cap companies, can meet and network for business partnerships are important, said Ung Molyvann, Representative of the Council of Ministers, Royal Government of Cambodia.

‘Exploring the Kingdom of Opportunities,’ an event saw more than a dozen companies from Singapore attending. Some of them like A2000, Platt Consultancy already had business units in Cambodia, while others like Elion Network, EN Seeds, Sameer Trading Enterprises hoped to set up shop in Cambodia with Cambodian businesses as their partners or clients.

Government representative Ung Molyann said the Cambodian government has created an environment for ease of doing business. The government is providing tax incentives, streamlining business regulations and setting up special economic zones. Increasing urbanization, will also ensure investment yields and capital appreciation for any investment from countries like Singapore, he said.

Andrew Tay, president, Singapore Chamber of Commerce (SCC) talked about the similarities in the economy of Singapore and Cambodia. “While Cambodia has a lot of SMEs, Singapore too has about 288,000 SMEs in various sectors such as services, IT, construction, etc. Both our economies are dependent on the growth of not just large conglomerates, but also mid-cap and small-cap companies.”

“We can learn from each other. And possibly use this event to best network,” said Dave Tan, director, Asia Group Pte Ltd.

Sorn Seap, president, Cambodian Valuers And Estate Agents Association (CVEA) talked about the potential for investing in the Cambodian real estate market as it has seen an “annual growth of 7 percent.” We have an expanding middle class and increasing demand for quality housing and commercial projects, he said.

CVEA president Seap also talked about the surge in infrastructure development in the country with new roads, bridges, airports, seaports and public transportation systems. “We’ve seen the real estate value of properties around the upcoming Preah Sihanouk airport soar,” he said.

On why it would make sense now to invest in Cambodia, Seap said that compared to neighbouring countries, property prices here are relatively low. “You can find land and housing at reasonable cost with the potential benefit from future price appreciation,” he said. He also talked about the progress in foreign ownership rights in the last few years that would make it attractive for Singaporeans to invest here.

0/Post a Comment/Comments