Known as the Kingdom of Cambodia, the country is strategically located between Thailand, Vietnam and Laos. Home to a population of 16 million, Cambodia is a country with rich historical culture. Cambodia’s population is relatively young — approximately half the population is under the age of 25. Khmer is widely spoken across the country as 95% of its population are of Khmer origin. However, English is increasing in popularity as a second language.
Tourism is one of the main key drivers of Cambodia’s economy. With its rich culture, historical sites and stunning scenic landscapes, the country attracts an average of 3 million international visitors annually over the past decade.
Phnom Penh, The Capital of Cambodia
Nestled at the intersection of Mekong River and the Tonlé Sap Lake, Phnom Penh is the capital of Cambodia. With a population of approximately 1.5 million, Phnom Penh is the largest and wealthiest city in Cambodia. Renowned for its eclectic mix of gorgeous historical architecture, variety of eateries, shopping options and a vibrant nightlife, the populous city is the Kingdom’s political, economic, security and commercial hub.
Key contributions of Phnom Penh’s growing economy include garment, agriculture, construction and tourism sectors. With its low cost of living, stable political environment, government’s pro-business stance on foreign businesses, attractive tax incentives and import/export duty exemptions, Phnom Penh has attracted an influx of foreign investments over the years. A host of foreign banks and multi-national companies have set up operations within the city as well. Furthermore, the real estate industry is growing too. Many new developments and modern buildings have sprouted across the city.
Cambodia: Moving Forward
Although Cambodia has gone through an agonizing and traumatic period, the Kingdom is recovering rapidly over the past few decades. With an average growth rate of 7 percent year-on-year, the nation remains one of the world’s fastest-growing economics in the world. With the influx of foreign investments, tourism and growing industries, the agrarian country is moving towards urbanisation.
All information in this article is correct to the best of our knowledge and belief at the time at which the article was originally published.
This article was written in the author’s personal capacity. Any opinion expressed in this article are the author’s own and
do not reflect the view of Vivaz Capital Pte Ltd.
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