Modern Phnom Penh
Phnom Penh, the Rising Star of ASEAN
Cambodia is a blessed land with no natural disaster like earthquakes and typhoons. In 2013, Cambodia has enjoyed a significant GDP growth at 7.2%. Growth for 2014 is estimated to reach 7.5%. The Rental Property ROI rate is more than 7% in Phnom Penh. Due to there is no restriction on land use, in some cases, the ROI rate can be several times higher. The OCIC (Overseas Cambodia Investment Corporation) plans to construct the world’s second-tallest building, the 555-metre Diamond Tower. The skyscraper is expected to be completed by 2017.
Invest in Cambodia? The time is now. Important elements to keep in mind:
- Political regime is transiting to democratization.
- An ASEAN member country with free tariff to trade within ASEAN, and lower tariff rate to trade with 31 other countries.
- Cambodia has little scope for monetary and exchange rate policy. It is a heavily dollarized economy, with the United States (US) dollar and the national currency freely circulating and interchangeable.
- The market enjoy a high economic freedom.
- Cambodia has an open and liberal foreign investment regime with a relatively pro-investor legal and policy framework.
- Phnom Penh is the center of the Southeast Asian network of Trans-Aisan Railway, which is to be completed by 2020. This integrated freight railway network across Europe and Asia is the modern “Iron Silk Road”, forming a giant network of trades between Europe and Asia.