Toong, a Vietnamese co-working space for startups, will set up shop in Phnom Penh during the third quarter of the year, according to a company representative.
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With branches already in Vietnam and Laos, Nguyen Ha, brand manager of Toong, said her company aims to have a solid network of co-working spaces across the region in the near future.
“Setting up a wide network in Indochina will enable us to work flexibly in any of these countries and enhance cultural experiences. Furthermore, in Toong’s point of view, Cambodia is an emerging market for the co-working space model,” she said.
Ms Nguyen explained that her company aims to increase the quality of life for employees and employers by improving work-life balance.
“Working eight hours a day has a huge impact on your quality of life. Our mission is to provide them a new approach to work-life balance, especially in those markets that have not benefited from the values of the co-working space movement.”
The new space will be located near Vattanac Capital Tower, three minutes away from Phnom Penh Railway Station in Monivong Boulevard. It will consist of 700 square metres.
Hoem Seiha, research director at VTrust Appraisal, said co-working spaces have become popular in the capital in recent years. Aiming to cut expenses and avoid expensive rents, more and more entrepreneurs are turning to co-working spaces as places from which to run their businesses, he explained.
“Demand for this kind of service is increasing rapidly, with more and more startups and entrepreneurs in Cambodia every year,” Mr Seiha said.