Cambodia seeks to be Asia’s next investment hub
Cambodia is catching up with other Asian countries with advanced economies
Cambodia’s economy had been growing by seven percent consistently on a yearly basis, one of the fastest growth rates in the world, reported the Khmer Times, citing data from the World Bank. This growth has picked up again now that the pandemic is over and that traditional growth drivers are once again in full production and export.
Due to this growth, many business leaders and economists have been keeping a close eye on Cambodia with its potential to follow after other advanced Asian countries, such as Singapore and South Korea.
More: Down, but not out: Phnom Penh real estate picks up
The real estate market, in particular, has more growth potential with the help of direct investments from foreign sources (mainly Chinese investors), and the increase of millennials living in Cambodia and wanting a more cost efficient living situation, revealed CBRE Cambodia.
The global real estate services firm also listed reasons to invest in real estate in Phnom Penh, namely its strategic location, resting in between Vietnam and Thailand while having ties with China and India. Its Gross Domestic Product (GDP) is continuing to grow from more investments coming in and real estate investment is more accessible to foreigners especially regarding tax and law regulations.
The Property Report editors wrote this article. For more information, email: [email protected].
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