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Foreign businesses continue to flock to Cambodia amid pandemic

Jose Rodriguez T. Senase / Khmer Times Share:
The French caterer Newrest is among the foreign businesses that recently invested in Cambodia. KT/Chor Sokunthea

The ongoing Coronavirus pandemic is not deterring foreign businesses from investing in Cambodia.

The Kingdom, which is already one of the favourite destinations for foreign investments in the region, continues to attract capital and businesses from the outside.

Early this week, it was announced that 800 Super, a Singaporean waste management company, has entered into a partnership with Cambodia’s GAEA Waste Management. The venture will see the two companies working together to collect and transport solid waste from one of three zones in Phnom Penh.

The entry of 800 Super followed the official Cambodian launch of Newrest, a global leader in multi-sector catering. The company, which is headquartered in France, entered the Cambodian market by acquiring EMCAT (Cambodia) and two other major food service providers.

Inthanin Coffee of Thailand announced last month that it is planning to add another 100 outlets in Laos and Cambodia. Another Thai company, PTT Oil and Retail Business, also included Cambodia in its regional expansion plans.

There is also the possibility of Russian companies investing in Cambodia’s oil sector after being invited by the Cambodian government.

A business-friendly environment, inexpensive labour, regional growth and political stability are among the key factors that are driving foreign investments to Cambodia.

“On the one hand, Newrest aims at strengthening its development. On the other hand, Newrest wants to contribute to the growth of Cambodia. In fact, our host country demonstrates a great ability to move forward, through its expertise – and know-how is supporting it,” Bruno Thierry, general manager of Newrest Cambodia, told local media during the launch ceremony.

“It also is good news for Cambodia because it confirms the attractiveness of the Cambodian market for international investors,” Eva Nguyen Binh, the French ambassador to Cambodia, said during the same occasion.

The fact that Cambodia has managed to successfully stem the spread of the deadly virus could also be a factor in the decision of foreign companies to relocate or invest here.

So far, the Kingdom has recorded 466 COVID-19 cases. The number is much lower compared with many of Cambodia’s neighbours, including Malaysia, Indonesia and the Philippines.

The presence of more investors could spur a search for the best accommodation in town. These people don’t need to go far in search of such properties, which can also turn into solid, one-of-a-kind investment opportunities.

The obvious and smartest choice for these people, according to many experts, is The Bridge, a development that stands out among the sea of properties in Cambodia’s capital city.

Situated on one of Phnom Penh’s most-choice locations, The Bridge is a mixed-use development that combines beauty, comfort, convenience and luxury.

Comprising two 45-storey towers, the Bridge is Cambodia’s tallest high-rise apartment complex. The project is a joint undertaking of Singapore’s Oxley Holdings and WorldBridge Land of Cambodia.

The Bridge gives its occupants picture-perfect views of the Tonle Sap, Mekong and Bassac Rivers, while also being close to many conveniences of modern living such as embassies, government offices, transportation hubs, entertainment joints, banks, markets, malls and sports clubs.

Residents will also have access to a swimming pool, children’s playground, gym and function halls, among other amenities.

In Cambodia, as they say, there is nothing like The Bridge.

 

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