Logo of Phnom Penh Post newspaper Phnom Penh Post - Canadian firms surveyed

Canadian firms surveyed

Canadian firms surveyed

In a new report issued by the Canada-ASEAN Business Council indicates Cambodia’s greatest difficulty in expanding Canadian investment is the lack of skilled labour – a familiar constraint echoed by numerous international business chambers.

The second Canada-ASEAN Business Outlook survey, which combines research from regional Canadian chambers of commerce, found Canadian businesses to be broadly optimistic of ASEAN’s market potential, with nearly two-thirds of those surveyed indicating that they would like to further deepen investment in the region.

However, of countries in the Cambodia, Laos, Myanmar and Vietnam (CLMV) region, the Kingdom ranked the second-lowest in terms of interest behind Laos, gaining only a 25 percent appetite from the regional survey. Vietnam took the top spot at 49 percent – the highest of all ASEAN countries – with Thailand at 47 percent and Myanmar at 39 percent.

“[The] biggest barrier to expanding business in Cambodia is the low level of capability in the local workforce,” the report read, noting that the ability to find higher-level workers is “extremely difficult”.

Corruption was the next biggest concern, according to the report.

David Marshall, chairman of the Canadian Chamber of Commerce in Cambodia, said yesterday that while Cambodia has not yet attracted many Canadian businesses, early comers that have invested heavily in developing human resource capabilities here have started to reap the benefits.

“Companies like Manulife that have invested in the country, have helped build and develop an industry,” he said.

Marshall said the financial sector has successfully garnered Canadian interest, adding that the National Bank of Canada’s acquisition of Cambodian commercial bank Advanced Bank of Asia Ltd (ABA Bank) earlier this year showed confidence in the Kingdom.

“I believe that there is a lot of promise in Canadian investment into financial services and human resource development,” he said.

Addressing the survey’s comments on Cambodia’s education system and lack of properly trained workers, he said Canada has a firm commitment to partner with local universities to help train workers to better prepare the country for investment.

“Canada and its education system is trying to incorporate curriculums into universities to fill that knowledge gap,” he said.

MOST VIEWED

  • New US bill ‘is a violation of Cambodian independence’

    After a US congressmen introduced bipartisan legislation that will enact sanctions on Cambodian officials responsible for “undermining democracy” in the Kingdom, government officials and the ruling Cambodian People’s Party on Sunday said they regarded the potential action as the “violation of independence and sovereignty

  • Angkor Wat named as the top landmark for the second year

    Travel website TripAdvisor has named Cambodia’s ancient wonder Angkor Wat as the top landmark in the world for the second year running in their Travelers’ Choice Award 2018, an achievement Cambodian tourism operators expect will attract more tourists to the Kingdom. The website uses traveller

  • Ministry’s plan for net sparks fears

    The government has ordered all domestic and international internet traffic in the Kingdom to pass through a Data Management Centre (DMC) that has been newly created by the state-owned Telecom Cambodia, in a move some have claimed is an attempt to censor government critics. Spokesman

  • Hun Sen detractors ‘will die’

    Prime Minister Hun Sen on Wednesday said those who curse or insult him would eventually die without a plot of land to bury their bodies after being killed by lightning, suffering the same fate as those who recently died in Thmar Baing district in Koh