The factors that have contributed to Cambodia’s economic progress are “Peace, Education, Technology, and the Entrepreneurialspirit of Cambodian people.”
Cambodia has big, medium and small entrepreneurs, varying from street-side vendors, family-owned coffee shops, restaurants, general stores, etc to the large textiles industries, tourism, and construction. Every street seemed to be bustling with small businesses.
Today’s young employees begin their careers to save money to start their businesses. There is a general sense of optimism and hope for a brighter future. Everyone wants a piece of the action when they sense the opportunity in the marketplace.
The newness of the buildings, cars, and businesses all around the country is truly astonishing. Even though Cambodia has a long and rich history, it is clear that most of the commercial areas we see today are built within the last 10-15 years.
As the economy opened up, Cambodians began to recognize that greater affluence was possible. As a result, a generation of youngentrepreneurs awaiting their chance to succeed as soon as the conditions are favourable started to venture into startups.
There is a new generation of Cambodian entrepreneurs, who are showing that prosperity that can be found in an open market economy if you have a growth attitude.
StableGovernment, Steady Currency and Peace are three key components for healthy entrepreneurship in Cambodia.
Cambodia is a great example of the amazing economic growth that is achievable, even in economies that are starting from the zero, when the right mechanisms are in place.
When entrepreneurs are unfettered, they become wealth generators for both themselves and society.
Cambodia is now remarkably near to eradicating the extreme poverty that still impacts roughly 10 percent of the population. In young generation we could see the accumulation of real savings that will become capital investment for the nextgeneration of entrepreneurs.
The future of Cambodia’s rising economy looks bright as long as the country maintains peace and political stability.