There are countless benefits of starting a business in Cambodia and the number of foreign investments keeps on rising fast. As the economy of the country is changing and getting more and more diverse, new interesting business opportunities come up. But which types of businesses are particularly profitable and promising in Cambodia? Today we will present a selection of top choices.
Construction And Infrastructure
Because of its growing population, Cambodia needs expert solutions for urban planning, public engineering and rural development. Businesses with suitable technologies and solutions for public water and electricity supply, road construction and public transport management, for example, will find plenty of opportunities. No matter if they plan to import construction material and machinery, provide advice or carry out/supervise projects, etc. – experts in this field can actively support Cambodia’s development and therefore have an excellent business outlook.
Though starting business in the health sector is much more difficult than in other areas, Cambodia certainly has a huge potential because many improvements are needed for medical services and products. That is why enterprises in fields such as healthcare, medicine and pharmaceutics, which manage to fulfill all requirements and regulations, will have plenty of promising business opportunities in Cambodia.
Remote Online-Based Services
A lot of investments have been made in Cambodia’s digital infrastructure. Now, with the many young well-educated professionals who are eager to study foreign languages and to work for international companies, the country has transformed into an attractive base for all sorts of remote services. Opportunities include data controlling and evaluation, remote customer care, research, database management, etc.
The real estate business is a long-time favourite among foreign investors who do business in Cambodia. Particularly Chinese companies have been very active in this field. Anyway it is certainly not too late to look for profitable opportunities here. Especially experts who can offer specialised services and innovative solutions that suit the local market will find that there is still massive potential for doing business in Cambodia.
Garment Production and Export
Garments are still by far Cambodia’s top export products. While the country’s garment industry is changing and many efforts are made to diversify the economy, Cambodia is still a fantastic base for garment production for many reasons: Import and supply chains of textiles, machinery and additional material are well established. It is also very easy to find factory staff with many years of experience. The same goes for engineers who know just about everything about the machines and tools that are used in the garment industry. But probably the main reason is that fashion will never go out of fashion – and investors can profit from this fact.
Like in many other rapidly emerging countries, people in Cambodia invest a lot in education. Particularly foreign language classes and international schools are extremely popular. This means that any business in the education field, including producers of classroom equipment and textbooks, operators of language schools, etc. can easily find golden opportunities in Cambodia.
The tourism industry is very popular among foreign investors – and there is still incredible potential for further development. In terms of locations, Angkor will certainly remain a must for every visitor. However, many rural areas, islands, remote archaeological sites, etc. are getting more and more popular, and therefore offer plenty of opportunities to do business in Cambodia. Another aspect is that hospitality business owners increasingly target specific needs of niche groups (for example health oriented tourism, eco-friendly travelling, trips with adventure/social/educational focus, top end luxury travel, etc.).
Succeed With Your Business Plans And Local Support
The constantly growing economy of Cambodia holds many top business opportunities for foreign direct investment in many different areas. Anyway, speaking from experience, it is fair to say that even investments in top businesses are very unlikely to succeed without a local expert consultancy. Don’t put your promising business plans at risk!
The expert team at LocaWize is ready to help you start a business in Cambodia. We can assist you from the initial planning stage and stay with you through the various steps of business registration. In the beginning, we will discuss everything you need to know about doing business in Cambodia. We can then help you prepare documents and complete all required formalities for company registration. After that, once your business is set up, our expert business support services (legal, tax and accounting, trademark registration, office space solutions, etc.) will prove indispensible for your success. Contact us now to find out what we can do for you!