Every business person is looking ahead to the year 2022 for the positive impact it will bring on the businesses. If you are looking for the right business opportunity in Cambodia in 2022, then this blog is just for you. 

According to the World Bank, Cambodia’s GDP is expected to be 4 percent in 2022 compared to 2.5 percent in 2021. There will be a rise in the business opportunities in sectors like Agriculture, Garment, Tourism etc.

However, before you jump in, make sure you do your homework properly so that you can leverage the higher benefits. 

5 Business Opportunities in Cambodia in 2022

#1 Real Estate 

Real Estate is the act of buying or owning properties such as houses, lands, and buildings to achieve a profit. The real estate market is the safest bet since the property value grows over time. Speaking of Asia, in the 2020–2024 GDP growth forecast, Cambodia ranks 5th among the fastest-growing economies. And there is no doubt in saying that Cambodia is one of the best for real estate property buyers. 

Lately investment has been flooding in as people have realized the massive potential in this market. However there is an issue of locating residential apartments that fulfill the needs and standards of well-paid foreigners in Cambodia. These people are those who usually earn six-digit salaries from international organizations.

Note: Under the Cambodia real estate rules and Law on Investment (1994), foreigners are only allowed to own Strata titled properties under their own name. They can also hold long‑term leases for up to 50 years, renewable for another 50 years.

In short, purchasing real estate in Cambodia is easily attainable, as you don’t have to wait for your top quality housing to be off the market because of it’s huge demand. Therefore, investment has been flooding in the real estate market. According to the research paper published by a Cambodia real estate company, investors from all around the globe are considering Cambodia as an option to invest and earn the expected high gains. 

Some of the best cities to invest in Cambodia real estate are Phnom Penh, Ta Khmao, Siem Reap and Kampot. 

Agri-food

The production and export of agricultural goods remain a strong economic pillar in recent years in Cambodia. If you are looking for an attainable business opportunity in Cambodia, then Agriculture is just the right choice for you. 

Employed approximately 80% of the workforce, Rice is the primary crop of the country. In 2019, the country experienced rice production of 8 million tons. 

Before the nation’s rice production is re-exported, Cambodia exports most of its produce to neighboring countries. Other than rice, rubber and cassava are amongst the most common export commodities. 

Garments and Textile Production 

Another lucrative business idea in Cambodia is Garments and Textile Production, therefore majority of the foreign direct investment remains in this sector as well as others. Established in the 1990s (around 30 years back), the garment industry in Cambodia has expanded considerably over the last 20 years. As per the statistics, the industry is contributing to 30 percent of Cambodia’s economy along with giving employment to more than 700,000 workers in over a thousand garment factories. 

Making use of Cambodia for the cut, make and trim (CMT) process, Foreigners own a majority of the factories. Many International organizations have been putting up factories in Cambodia as they have been offered investment incentives by the country’s government in the form of preferential market access to the ASEAN (Association of Southeast Asian Nations) and European Union.

Hence, there is no denying that export of garments and textiles is a huge asset for the government and private companies.

4. Tourism

We all know that Covid-19 outbreak has shown a negative impact on the tourism industry as there was a cumulative 80 per cent drop over 2019-2021. Travel businesses have to let go of their staff and while many close for good due to obvious decline of international visitors (tourists or for business reasons) ruining the airlines and airports. This resulted in a harsh impact on domestic transport, hotels, guesthouses and the restaurant industry. 

To help the Tourism industry in Cambodia pick up in 2022, new tourist attractions have come into force to gradually improve the situation of domestic and international tourism. Here are the additions in Cambodia’s tourism sector:

• The first immersive Angkor 3D museum is planned to open in Siem Reap in 2022. The museum will be dedicated to the Khmer heritage. 

• Instead of a one-day entrance ticket, Foreign tourists can visit the Angkor Archaeological Park for two days. Also in 2022, the three-day pass will be increased to five days of visit and the seven-day pass to ten days of visit.

5. Transport and Logistics

The transport and logistics development authority is ready to expand Phnom Penh’s port capacity to 500,000 TEU in the upcoming five years. By 2022, Sihanoukville port will allow cargo (deep-sea) up to 14 meters. 

The Cambodian government is also beginning to implement standards aimed at reducing traffic congestion. Along with wear and tear of current roadways, and excessive carbon emissions. 

But why choose transport and logistics?

In the country, systems such as LCL (Less Container Load) and International VMI (Vendor Management Inventory) can contribute towards the reduction of overall logistics expenses in Cambodia. How? By supporting a lot of business potential. 

Therefore, providing compliant trucks to the market in Cambodia can represent a terrific business opportunity.