Search form

Login - Register | FOLLOW US ON

Logo of Phnom Penh Post newspaper Phnom Penh Post - Positive outlook for EU firms in Cambodia

Positive outlook for EU firms in Cambodia

With an eye on the ASEAN Economic Community integration later this year, the EU-ASEAN Business Council conducted a survey to gauge the outlook of European businesses in Cambodia and the region.

Of the 151 respondents, Cambodia was ranked the second-most important country by businesses in terms of total turnover for their ASEAN operations after Singapore.

However, the report noted that the unexpected result could be attributed to a high number of responses from Cambodia – 38 of the 151 were based in the Kingdom.

“Once AEC is fully implemented, a country like Cambodia will benefit because some of those hurdles with imports and exports will be taken away,” said Andre de Jong, managing director for German firm Bosch in Cambodia, Laos and Myanmar.

“If it happens, they can become more cost effective.”

About 63 per cent of companies in Cambodia, like the rest of the region, expected to see profit increases this year and in future years.

Blaise Kilian, advocacy manager for European Chamber of Commerce in Cambodia, said that while there was positive business sentiment in the Kingdom, a lack of clarity on the AEC’s implementation made it hard for firms to plan for the future.

“The limited connectivity of the Kingdom to the regional economy as compared with the other countries would explain the fact that only 55 per cent of Cambodian respondents plan to expand their operations in ASEAN,” he said.

0

Comments

Please, login or register to post a comment

Latest Video

Cambodia's last tile masters: Why a local craft is under threat

Brought over by the French, painted cement tile making has been incorporated into Cambodian design for more than a century, even as the industry has died out in Europe.

Interview: Loung Ung, author of First They Killed My Father

The story of Loung Ung and her family’s suffering under the Khmer Rouge became known around the world with the success of her autobiographical book, First They Killed My Father.

Setting up a drone for flight. Photo supplied

How Cambodia's first drone company is helping farmers

SM Waypoint claims its unmanned aerial vehicles can help local farm and plantation owners increase their yields.