Discover the thriving economy of Cambodia.
Beyond the ancient temples of Ang Kor Wat and many other historical landmarks, Cambodia is one of the fastest-growing economies in the world with an average growth rate of 8% economy for over 20 years. It's open market economic polices and attractive income and corporate tax policies makes it a popular choice as a base for professionals and companies settling in the region.
The government implemented few restrictions on foreign-owned entities in order to properly protect and guarantee the legal rights of foreign companies. Foreign companies who wish to establish an entity in Cambodia can have 100% foreign owned company and can also engage in almost all of the same business activities a Cambodian-owned entity can.
Cambodia has its own currency, the Riel, but the US Dollar is widely accepted as well. The widespread acceptance of the USD facilitates foreign business transactions. This enables foreign companies to earn money in USD and send it back to their home country with ease, without exhange rates.
The Cambodian government is known for its pro-business stance. They announced a programme of economic reforms, including measures to attract new business, investment and capital flows to the country. These include tax incentives, lower shipping cost, new investment measures and special economic zone laws.
Joining the Regional Comprehensive Economic Partnership (RCEP) and a member of the ASEAN Free Trade Agreement (AFTA), Cambodia enjoys the benefits of the Common Effective Preferential Tariff (CEPT) agreement. It can trade on preferential terms and, in some cases, tariff-free with other member countries.
Out of the 16.6 million people in Cambodia, 98.5% use the internet.
Source: Bangkok Post, Internet Users, Cambodia
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