For Foreign Investment, Cambodia Is The Best In The Region
For more than two decades, Cambodia’s economy has been rapidly growing. Strong performances in the key sectors like textiles, agriculture, and tourism have fueled growth. This progress has been supported by rising foreign direct investment, stronger integration in global value chains, and a stable macroeconomy. The Royal Government of Cambodia continues to implement reforms in order to maintain and expand on these achievements.
People often ask why investing in Cambodia is beneficial. The answer is simple. The welcoming attitude of Cambodians towards foreigners is a selling point. This is one of the reasons why expats from all over the world are rushing to Cambodia to invest. Other than this, there are many facts and figures show that Cambodia is favorite hub for investors, such as,
- Stable Government
- Cambodia has one city with a population of more than one million people, four cities with a population of 100,000 to one million people, and 23 cities with a population of 10,000 to 100,000 people. With a population of over a million people, Phnom Penh is Cambodia’s most populous city.
- According to Worldometer’s elaboration of the most recent United Nations data, Cambodia’ current population is 17,094,221
- Cambodia’s GDP grew at an annual rate of 7.7% on average between 1998 and 2019, making it one of the world’s fastest-growing economies.
- The urban population is 24.2 percent of the total population (4,050,459 people in 2020)
- Cambodia’s median age is 25.6 years.
- The average life expectancy is 70.54 years (life expectancy at birth, both sexes)
- The agricultural sector accounts for 32 percent of Cambodia’s gross domestic product (GDP)
- Cambodia achieved lower middle-income status in 2015, thanks to lowering poverty rates and strong economic growth, it aims to reach upper middle-income status by 2030. The World Bank, “The World Bank in Cambodia,” retrieved on July 27, 2020.
- According to the report, Cambodia’s adult literacy rate grew by 10.1 percent from 77.6 percent in 2008 to 87.7 percent in 2019. Adult literacy rates in urban regions increased to 93.3 percent from 83.8 percent in rural areas, indicating a significant shift
In just a few years, the country rose from poor to a middle-income country. The Royal Government of Cambodia is supportive for the developments and the country is ready for the changes. It’s no surprise that economy continues to grow with such a favorable economic outlook.
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