Cambodia is one of the most attractive countries for expatriates working for US companies in ASEAN, according to a survey of 475 US business executives from throughout the region.
Of those surveyed in Cambodia, 65 per cent reported that employees in other locations requested to relocate to the country, a rate second only to Singapore, where 71 per cent reported receiving transfer requests.
The American Chamber of Commerce in Singapore, which conducted the survey together with the US Chamber of Commerce, said yesterday that poll respondents are senior level executives at US companies, but not necessarily US citizens.
At 90 per cent, Cambodia held the highest rate of expatriates looking to extend their time in their host country, while Myanmar, where the rate stood at 50 per cent, had the lowest interest in prolonged employment.
In Cambodia, 65 per cent of respondents were from the services industry, including education, legal and marketing services, and some 20 per cent came from manufacturing. The response rate was just 15 per cent of the 130 AmCham members contacted in Cambodia for the survey.
The profit outlook is bright for US businesses here, with 75 per cent anticipating profit increases in 2013, and 95 per cent expecting gains in 2014.
US companies operating in Cambodia say the major strengths were a positive sentiment towards the US and the availability of low-cost labour. Of concern was corruption, the lack of “trained” labour, and laws and regulations.
Across the region, there was doubt over whether ASEAN economic integration could be achieved by 2015.
“The majority (52%) do not think that the AEC’s goals will be realized by 2015, and only 23% believe that they will,” the report stated.
Some 77 per cent across the region did, however, say that ASEAN integration “is important in helping their companies do business in the region.”
Cambodia ranked eighth out of the 10 ASEAN countries that businesses across the region would be looking to expand to.