The Potential of Cambodia
There are increasingly good news from Cambodia in 2012:
- According to World Bank, GDP will grow 6.9% this year and will reach 7% in 2013.
- In the first four months in 2012, 26% more tourists visit Cambodia compared to the same period in 2011 due to open sky policy and easing of visa requirements. More direct flies from other cities to Siem Reap and Phnom Penh.
- More and more companies from Japan come to invest.
- Cambodia is taking the Chairmanship of ASEAN and is expecting the visit of Barak Obama, the US President, during the next ASEAN Summit Meeting later this year.
- Around 500 garments factories operate in Cambodia providing jobs for 400,000 workers (90% women) from rural areas. It is estimated that around $70 million is sent back as remittance to their home village every month. Export of garments is about $4.24 billion in 2011 (25% increased compared to 2010), especially to the US and European markets, makes up 90% of total exports.
Good to see that progress is being made and the country is heading in the right direction, at least economically. Politically, it could be further improved!
In a recent publication of the first ever Census of Enterprises in Cambodia, there are 505,134 enterprises recorded; employed 1,676,263 employee, with 650,179 male (38.8%) and 1,026,084 female (61.2%); across Cambodia. Phnom Penh has the most enterprises with more than 96,000 enterprises or about 19%. The census was financed by the Royal Government of Cambodia, the Government of Japan and JICA, and conducted by the Ministry of Planning. It is good to see also that there are more and more young people starting new businesses with style and success.