| |
|
|
| |
Home
>
World
> South-East Asia
> Cambodia
|
Business Profile
Economy: The Cambodian economy was all but destroyed by the war in South East Asia, following the rule of the Khmer Rouge between 1975 and 1979. Since the ousting of the Khmer Rouge from power by the Vietnamese in 1979, Cambodia has undergone a slow process of recovery. Restoration of agriculture – the foundation of the Cambodian economy and the main source of employment – has been slow but steady. Rice is the staple; other products include maize, sugar cane, cassava and bananas. The timber industry has also grown quickly on the back of heavy foreign investment and meets both domestic fuel demands and export markets but at the expense of worrying deforestation. Timber is, along with rubber, the source of most of Cambodia’s export earnings. Other mineral resources, which include phosphates, iron ore, bauxite, silicon and manganese, are limited. There is a small but fast-growing industrial sector concentrated in the production of consumer goods, processed foods and light manufacturing. Most of this has relied on foreign investment, most of which has come from elsewhere in east Asia (especially Thailand) as more developed economies seek to take advantage of Cambodia’s lower labour costs. Japan and Australia have supplanted the former Soviet Union as Cambodia’s largest trading partners. GDP growth averaged over five per cent annually during the 1990s and construction activity, especially in the capital, has been extensive. The effects of the 1997 currency crisis on the economy were mainly concentrated on foreign investors. Cambodia aspires to the status of an Asian ‘tiger’ economy and has joined, along with its neighbour Vietnam, the Association of South East Asian Nations (ASEAN), now the principal regional economic cooperation body.
Business: Shirt and tie should be worn. Some knowledge of French would be useful. Business hours: Mon-Fri 0700-1700.
Commercial Information: For advice and information, contact The Royal Embassy of Cambodia in Paris (see Contact Addresses section).
Copyright © 2003 Columbus Publishing Ltd.
Terms and Conditions apply.
|
|
|
|
|
