Closer Economic Ties with Cambodia to Benefit Singapore-based Businesses: SingaporeCompanyIncorporation.sg

Singapore (PRWEB) July 22, 2014

In 2012, Singapore was Cambodia’s 6th largest trading partner and its investments in Cambodia grew 11% y-o-y, amounting to 240 million in 2012.

According to MTI, Singapore companies have invested in Cambodia in sectors such as property development, hospitality, energy, lifestyle business, garment, agriculture and logistics. Bilateral trade has grown 17% since 2010 and amounted to $1.6 billion in 2013.

CAMBODIA SET TO GROW IN 2014 – 2015

Commenting on Singapore’s move to bolster economic ties with the country, Ms. Cheryl Lee, Operations Manager at SingaporeCompanyIncorporation.sg commented, “According to the ADB, Cambodia has seen robust and steady growth over the past 2 decaces and in spite of recent political uncertainty. In light of Cambodia’s growth prospects, the strategy bodes well for Singapore companies that wish to have a presence in Cambodia, especially those in the garment and footwear as well as wholesale trading industries. These companies stand to benefit from duty-free export access to the EU and the US. In addition, Cambodia’s urbanization plans will create opportunities for Singapore firms in the areas of health and nutrition, infrastructure and vocational training as well.”