CEVA Logistics, a global logistics and supply chain company, on Monday opened its first office in the Cambodian capital.
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Speaking at the grand opening, Russell Pang, CEVA managing director of emerging markets, said Cambodia is a country with vast opportunities for growth.
The company has already been operating in Cambodia for six years through a network of partners – including WorldBridge Group – providing freight management services to a number of multinational and local customers.
Mr Pang said with the opening of an office, the company is now “directly present” in the country, offering a complete array of globally standardised services in multimodal, land transport, sea-air as well as export-processing zone and container freight station facilities.
“With our longstanding regional expertise and newly opened office, CEVA is well positioned to provide robust logistics solutions that will facilitate rapid business development for our clients and contribute to the development of the logistics sector in the country,” said Mr Pang.
CEVA’s operations in the emerging Southeast Asia markets span four countries: Cambodia, Bangladesh, Myanmar, and Laos. Rapidly emerging countries present considerable potential with accelerated market growth, he noted.
The low production costs and abundant manpower, combined with ongoing trade liberalisation, make these countries attractive for foreign direct investment and manufacturing. Cambodia’s FDI, for example, increased by 14 percent in 2018, Mr Pang said.
He said the company is planning further expansions in the country given its current trajectory and momentum.
Sear Rithy, chairman of WorldBridge Group, said his company has been working with CEVA for many years.
He said the collaboration between the two companies is aiding the development of Cambodia’s logistics sector.
“Our economic growth is good but have weaknesses that we have to address. They include high electricity fees and logistic costs.
“With global players like CEVA setting up in Cambodia, we can expect the cost of logistics to decrease,” Mr Rithy added.