Cambodia’s business environment retained a positive outlook during the commune elections held yesterday, with several experts saying they expected the Kingdom’s economy to benefit from continued political stability.
This is good news, as a stable economy and business situation means growth for both existing businesses and an encouraging environment for new or start up companies.
Though in the past, economic uncertainty increased dramatically during the electoral process, the outlook now for investments and business remained relatively unchanged according to members of Cambodia’s business community.
Ngeth Chou, senior consultant at Emerging Markets Consulting (EMC), a firm advising foreign companies on doing business in Cambodia, said that long-term investors showed few concerns regarding the commune election. Many firms continued to conduct feasibility studies in Cambodia and expected to expand their businesses in the Kingdom, he said.
“Investors believe that whoever wins the election, they will treat the private sector well,” he said. “They believe that the government acknowledges that the private sector is the main tax payer to boost government revenue and reduce dependency from foreign aid.
Ngoun Meng Tech, director general of the Cambodian Chamber of Commerce said the situation surrounding the election was not as agitated compared to during previous election cycles. He said he had no concerns regarding the country’s future economic growth. “Our economic situation is stable and growth is positive currently, so the election result will not be a concern or a risk to the process of economic growth,” he said.
Overall, the elections are past and the economy is looking stable, so Cambodia’s business situation remains promising. Now it will be important for companies making future business decisions to get the best information they can to guide them.
Leverage Research Solutions is an ideal market research partner for doing just that.