Cambodian Small Business – Setting Up in Cambodia. Despite poor commercial infrastructure and weaknesses in Cambodia’s legal framework, opportunities exist for other Asian and Western companies. Investors and companies are well positioned to take advantage of opportunities in the following areas: Extraction of offshore oil and gas reserves, mineral extraction of bauxite and gold, consumables, dairy products, meat, beverages (wine). Development activities financed by the World Bank, the Asian Development Bank and other donors provide opportunities for many firms to participate in infrastructure projects or provide professional services. If you think you’re ready to start your business, here’s a an overview of resources you may need to use in order to make it happen.
Cambodia Banking and Finance
Banks in Cambodia. While many entrepreneurs put their own money into their new companies, it’s very possible that you’ll need financial assistance. A commercial loan through a bank is a good starting point, although these are often difficult to secure. The following banks provide full banking services in cambodia: The following banks below provide full banking services in Cambodia. Website of The Association of Banks in Cambodia is here www.abc.org.kh. And The National Bank of Cambodia website www.nbc.org.kh can be visited by clicking the provided link. Setting up a bank account in Cambodia is relatively easy. Most banks require a passport with a valid long-stay visa and a copy of your lease or an employment letter. ANZ Royal Bank (anzroyal.com) is one of the most popular choices for expats due to its relationship with Australia-based ANZ bank. ACLEDA Bank (acledabank.com.kh) is one of Cambodia’s largest banks, with more than 230 branches in the country – there’s one nearly anywhere you’d want to go. Canadia Bank (canadiabank.com.kh) is one of the largest local banks in Cambodia and another expat favorite.
Cambodian Small Business, Government and Trade
Government, Business and Trade. To become an officially recognized business entity, you must register with the government. Corporations will need a document, which includes your business name, business purpose, corporate structure, stock details and other information about your company. Otherwise, you will just need to register your business name, which can be your legal name, or the name you’ve come up with for your company. The Cambodian Government, Business and Trade organisations are:
- International Monetary Fund (Economic update) – www.imf.org/external/country/KHM/index.htm
- Ministry of Commerce – www.moc.gov.kh
- Ministry of Foreign Affairs and International Cooperation – www.mfaic.gov.kh
- Phnom Penh Municipality – www.phnompenh.gov.kh
Cambodia News and Media
Media – Cambodia Small Business. Newspapers and Radio News
- Cambodia Daily
- Phnom Penh Post
Cambodia and ASEAN – Asia (AEC)
Cambodia – ASEAN Ten Countries (AEC) which comprises of all the major nations in Southeast Asia. The goal of establishing Asean Economic Community (AEC) is to transform the region into a single market and production base with a highly competitive advantage to make it a stable and prosperous region. The countries are: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam. You can find 20+ more countries in Asia information by following the link. Return to our Cambodia, Laos, Myanmar, Vietnam, Thailand main page to find more regions and posts about entrepreneurs and small business in Asia and around the world.
If you liked this post, you may also be interested in reading:
– 2 Cool Young Cambodian Entrepreneurs under 30
– Cambodia Franchise Show 2016
– Doing Business in Cambodia
– Cambodia Franchise Opportunity
– Cambodia Jobs for Foreigners
– Cambodia Online Video Marketing Guide
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