The Outlook of Investment Opportunities Philippines

The Philippines is one of the developing countries in South East Asia. The country is well-known by some investors because of easy investment and economic growth. Some of investment opportunities Philippines always achieved their goal as mentioned by Asia Development Bank outlook.

Economy Growth in the Philippines

ADB and government of the Philippines have projected that the country will grow more than 4% from its GDP. The country has set up that by 2021, it grows as planned for 6-7 percent. However, the pandemic had changed the projection and it was only about 4.2 percent.

During the pandemic which has been the Philippines’ downfall, the economy was affected by several lockdowns. The government put their effort to accomplish their goal by maintaining many sustainable sectors. Hence, the economy will gradually move to the better level by the end of 2021.

Amidst uncertainties which has been experienced globally, the Philippines is confident that they country will find their ground back. Though the risk is still lingering, the nation keeps their own projection for the upcoming year bot domestic and global scale.

Investment Opportunities Philippines

The most important sector nationwide is manufacturing. Most of the manufacturers are for food and chemical as the largest contribution to the country. Compared to other sectors, manufacturing grows well, adds value, generates employment, and encourages innovation.

Besides manufacturing, another sector that increases the Philippines economy is automotive. Philippines market research shows that this sector is highly competitive. Even during the pandemic, automotive still thrives well compared to other sector.

The big opportunity to invest is construction. The Philippines is still developing and restructuring on a nationwide scale. Infrastructure becomes nation’s top priority to strengthen the economy’s growth. The government also supports the idea of sustainable construction though it’s pretty expensive.

Chemical is also a big sector to consider by the investors. The contribution of this sector is very impressive that becomes the basic resource more than real estate. The Philippines doesn’t only serve the need domestically but also globally since it’s reliable, modern and affordable.

Investment Risks During Pandemic

The situation in the Philippines is affected by pandemic. By the time the case of COVID-19 increased, the nationwide tried hard to make sure that the population is protected by maximum safety and maintain the economy growth keeps stagnant at the previous level.

Multi-layered challenges in the Philippines are inevitable. The COVID-19 stops many sectors during partial lockdowns that happened more than once. The uncertainties make some people refrain themselves from spending.

After the vaccination is managed for the population, the Philippines gradually awakes. Its economy growth is getting better by sustainable strategy. The market is still competitive, especially e-commerce. The adjustment for consumer spending happens faster than expected as solution.

To assist the recovery smoothly, the government plans to accommodate some policies such as fiscal and monetary. It will improve and strengthen the foundation for some basic sectors such as tourism and agriculture.

Considering the investment opportunities Philippines must be based on practical experience. There are many insights to look out for so the strategy and challenge are ready to face some market dynamics. Count on the uncertainty to minimize the blank spot in the market.

Look Up: Qatar Investment Challenge and Opportunity

Qatar is one of area which is leading the market in the Middle East. The country is pretty impressive to do many operations in many sectors. However, Qatar investment challenge becomes something they need to face since the economy was going down fall because of pandemic.

Hence, the government has planned several regulations and restructured the previous ones. The purpose is facilitating new investors that come post-pandemics. It will ease the investment because the information they provide has a big impact for the country’s growth.

Qatar Investment Challenge

Companies which will establish their ground in Qatar have to incorporate to the local law. Thankfully, the law is quite flexible for overseas companies and the cost is pretty low. However, the companies are obliged to register and have local sponsor from Qatar local businesses.

Why does it become a challenge? Normally, the companies have to split the profit and it’s very large number of percentagea, from 49% to 51%. The companies will share based on the agreement they have with the local partnership. It’s the reason why foreign companies must be careful.

Other problems that usually happen is disputes between the foreign and local company. The dispute occurs because of contracts, advice, and some agreements that might not be in contract. The companies usually will follow  the local regulations to stay relevant and competitive.

Bureaucracy in Qatar is in a very high level in all sectors. They are very strict because of government rules, transparency, and fluctuation of consumer spending behavior. Even for some areas in Qatar, the challenge is about environmental matters because the regulation isn’t standardized.

Investment Opportunity in Qatar

The good side from the country is Qatar investment opportunity and wide ranges that foreign companies could pick. Though Qatar is well-known as oil and gas country, there are many sectors which can be tried from healthcare, media technology, manufacturing, financial service, consumer and retail.

The country could assist many industries and is identified as a sustainable area to grow the investment. With good strategy, the growth is impressive. Therefore, Qatar isn’t only about energy investment. The potential is very high to return the investment in general.

Solutions for the Challenges

Although foreign companies come to invest in energy sectors, government encourages them to invest in non-energy sectors. Domination of investment won’t happen in energy anymore to boost the diversity. Government also lowers the tax, therefore it invites the investors.

For the bureaucracy, Qatar’s government regulates the specific provisions since they are the most important part. They started by restructuring tax, financing, and anti-money laundering which had been their problems over the years. The enhancement enables both sectors, from private to public sectors.

Another solution that Qatar has been dones ia developing IT infrastructure. It happens massively compared to other sectors. Nowadays, they start to ease the investors with transactions such as e-signatures, e-contracts, and digital transactions adjust to the change of consumer behavior.

As the result, Qatar becomes one of thirty investor-friendly countries in the world. Investors in many sectors support the growth of business by overcoming Qatar investment challenge. The trust they have makes the country collaborate with multi national and unicorn companies in the world.

Investment Opportunities Vietnam

Over the last 30 years, Vietnam has shown impressive development. The country transformed from one of the world’s poorest nations into a low-income nation within three decades. Today, it is among the most attractive investment destinations in the world as there are many investment opportunities Vietnam.

Why Invest in Vietnam?

Firstly, stable politics.  Some countries in the region are vulnerable to political and economic instability, but not Vietnam. In fact, Vietnam is among the most politically stable counties in the region, making it an excellent place for capital investment.

After four decades of peace and development, the country has become one of the most reliable investment destinations for many countries.

Secondly, competitive labor costs. Vietnam has one of the most competitive labor costs in the region. In 2020, its minimum wages range between USD 132 and USD 190 per month. Not only that, but Vietnam’s labor force is also young, well-qualified, and abundant.

Thirdly, integration into the world economy. Vietnam has broadly and deeply integrated into the world economy. This integration is achieved by continuously signing trade agreements with other countries as well as regions all over the world, either as bilateral or as a member of ASEAN.

These trade agreements provide Vietnam with access to new markets as well as make the trades and investment between Vietnam and other countries and regions easier and more profitable. 

Investment Opportunities Vietnam: Three Sectors with the Greatest Potential for Foreign Investors

Textile and garment 

Vietnam is one of the world’s leading exporters of textiles and garments. This sector contributes to approx. 16% of its GDP.

In 2019, the revenue earned from the textile and garment export rose to USD 39 billion, an increase of 8.3% from 2018. The main export destinations are the U.S., Japan, South Korea, and Europe.

The extensive free trade agreements that Vietnam has further extend its market reach. Moreover, in the first 11 months of 2019 alone, the textile and garment sector received no less than USD 1.5 billion in foreign investments.

Electronics

2001, Vietnam ranked 47th electronics exporter in the world. In 2019, the country ranked 12th. The dramatic increase was due to the shifting of the supply chain from China into Southeast Asia.

In 2019, the main export destinations for electronics were the U.S., China, Japan, Hong Kong, and South Korea. The exported commodities include mobile phones, TVs, cameras, electronic integrated circuits, and electrical apparatus.

Automobiles

At the moment, the market size of the automobile industry in Vietnam is rather small. However, Vietnam’s automobiles sector was among the fastest-growing in the region. Vietnam plans to reach an annual production capacity of one million vehicles by 2030.

Market Research Vietnam

Although Vietnam offers so many opportunities for businesses to thrive, companies seeking to operate in the country should have insights into the ins and outs of the country’s market to thrive. For that, Vietnam market research will be needed.

Vietnam is a great place for investment. There are many investment opportunities Vietnam. The country offers political stability, competitive labor costs, and integration into the world economy. Vietnam’s most promising sectors for foreign investors are textiles and garments, electronics, and automobiles.

Abu Dhabi Investment Authority and How to Enter Market Successfully

Understanding Abu Dhabi investment authority is a crucial step before you start a business in Abu Dhabi or expand your business to this region. This is going to help you enter the market successfully. Trends can evolve quickly, especially in a complex economy.

You can develop and also maintain the competitive advantage with a business plan that is robust. The business plan you have should be structured based on the market understanding. It is also essential to identify the competitors and all factors that will affect consumer spending.

Carrying Out Abu Dhabi Market Research

Market research is essential to help you understand the business feasibility and to better understand the Abu Dhabi market where you are going to expand the business. This market research will also help you determine the competition and maintain the advantage of your business within the market.

Besides, conducting market research can also help businesses identify the opportunities that are available in the market. Your company will also be able to establish the brand messaging and positioning. This will help you identify and also understand the target consumer in Abu Dhabi.

Finally, by conducting market research, your company can develop much better services and products for all consumers and finally beat the competitors and win the market.

Abu Dhabi Investment Authority and Business Plan

Better understanding of Abu Dhabi market conditions can help you develop a clear plan and strategy for the business. Your business plan must include a feasibility study. You need to determine if your company is likely to be profitable when you enter the market in the current conditions.

You also need to analyse the cost. It is important to understand the entire costs that will be involved in establishing your business and maintaining it. You also need to determine what methods you will use to raise the finance. Business forecasts are also a crucial part of your business plan.

Your business forecast needs to be realistic. This is going to help you determine your business’s profitability over time. Also, this step is important to secure your investment.

Understand The Regulations and Laws

The regulations and laws that are surrounding businesses in Abu Dhabi are different to the ones you can find in other countries. Consider partnering with specialists who will facilitate you with the set-up process so you can eliminate any non-compliance risk of Abu Dhabi investment authority.

At this stage, one important consideration is the business etiquette that is totally different in the Middle East. In many places where most businesses are done face to face, you need to be aware of the UAE culture and respect it. Learn about the culture and respect it during the business.

Determine Commercial Structure That Is Appropriate

There are many commercial structures in the UAE you can take for your business. The cheapest option usually is not the best choice. It is crucial to partner with one local consultant who is experienced in the UAE. This consultant will guide you to set up options that are relevant to the business you run.

Abu Dhabi is a special part of the UAE. This country has regulations and laws you need to understand before expanding to the region. You also need a powerful business plan in order to win the market successfully.

How Abu Dhabi Consumer Protection Helps Sales Growth

The United Arab Emirates reaches the highest vaccination rate. It leads citizens to reactivate their economy. Recently, the Department of Culture and Tourism in Abu Dhabi has initiated a campaign to boost sales growth and provide Abu Dhabi consumer protection to monitor transactions. 

Their effort to recover economic growth includes tourism, retail, aviation, property, food and beverages sector. Pandemic definitely affected those sectors. Fortunately, governments started to improve the staples growth in those sectors by providing promotion through a summer campaign.

Launching A Summer Campaign

When all citizens get vaccinated, both sellers and buyers can continue their economic activities as normal. People feel excited to visit shopping malls again. Basically retails, food and beverages sectors experienced severe damage during the pandemic.

The Department of Culture and Tourism in Abu Dhabi holds a summer campaign to increase yearly sales growth up to 56%. This campaign emphasizes credit card usage in around 4000 stores. Most citizens certainly will take this chance to enjoy exclusive promotions. 

There are approximately 30 restaurants that offer exclusive promotions to increase sales. It proves that the summer campaign effectively attracts customers to visit more physical stores. The promotion absolutely boosts the growth in sales of some stores in this country.

The Importance of Abu Dhabi Consumer Protection

Principally, the summer campaign triggers citizens to use credit cards by providing discounts in several stores. The promotions are valid as long as the transaction is via credit card. The government needs to collaborate with credit card providers to succeed in this program.

In this case, the Ministry of Economy asked the Consumer Protection Department to monitor the transactions that emerge from this program. It is important to smooth the consumer experience. In the end, the consumer will increase their spending.

It means that the summer campaign is an effective program to increase sales growth in some sectors. Both credit card providers and the government give incentives toward consumers who reach a minimum amount of payouts.  

However, the incentives vary such as airline miles prize giveaways, dining discounts in certain restaurants, and so on. The more citizens will become attracted to use credit card transactions in some outlets joining programs. 

 Consumer Behavior

During Covid19 pandemic, most citizens in Abu Dhabi only purchased necessary products to survive their everyday life. Once the vaccination has spread throughout countries, the citizens get a stronger immune system so they start to visit shopping malls and other physical stores freely. 

The vaccine effectively increases citizens’ confidence levels to shop directly at malls or other stores. On the other hand, the e-commerce sector in Abu Dhabi increased up to 8% in 2020. It makes sense since Abu Dhabi consumer behavior tend to shop online. 

As the economic recovery begins to improve significantly, other sectors such as tourism, property and residential sectors also start to arise. In 2021, the residential consumption has increased up to 215% and the value transaction has reached 357% growth. 

To increase sales growth in several sectors, Abu Dhabi launches a brilliant campaign that attracts consumers to shop more using credit cards. Abu Dhabi consumer protection will keep consumers happy with the advantages of the campaign and ensure the transaction growth in this program. 

The Progress of Bandung Smart Cities Development

After covid19 outbreak, Indonesia takes advantage of technology and digitalization to start economic recovery. Indonesia initiates to develop smart cities that integrate technology in several sectors. Bandung smart cities become a pioneer in actualizing the project of smart cities in Indonesia. 

By 2045, Indonesia aims to create 100 smart cities. Everybody can see the image of what the smart cities will look like in the future by observing the infrastructure development in Bandung. Bandung has started to develop infrastructure in several aspects to support Indonesia’s economic recovery. 

How Can Smart Cities Boost Economic Recovery?

During covid19 pandemic, most businesses get interrupted. However, the economic growth starts to rise when businessmen decide to utilize digital technology. Most citizens in Bandung already applied digital technology to optimize their online business. 

The way citizens in Bandung utilize digital technology in business indicates that Bandung can implement smart city ideas. Their business grows rapidly through e-commerce. In this case, the movement restriction during a pandemic doesn’t prevent citizens from running their online business. 

Running a business via online is quite promising, especially in the current situation. As long as citizens can adapt to digital technology advancement, they will stay productive. It makes sense why ecommerce is popular in Indonesia, especially in Bandung. 

Developing Infrastructure to Complete Bandung Smart Cities

The online business or ecommerce is a trend for business nowadays and in the future. Establishment of a smart city in Bandung will surely inspire other cities to recuperate the local economic growth. Bandung develops infrastructure which eventually supports the smart city ideas.

An example of infrastructure development that reflects the smart city concept in Bandung is the command center. Bandung command center has functions to monitor wide operation in this city. The existence of a command center eases public service for citizens. 

Of course, the Bandung command center utilizes a high technological system to smooth their operations. Smart city technologies certainly bring many advantages to the country in the long term and short term. To achieve the goal of becoming smart cities, technology-based infrastructure is necessary. 

Collaborators in Smart City

It is impossible to create a smart city without collaboration of the private and public sectors. In establishing, smart city, the government in Bandung collaborates with some parties such as media outlets and startup companies that work on different specialties. 

In this collaboration, the media outlets, startup companies and governments share knowledge and resources to develop smart cities. 

Through smart city collaborations, Bandung involves several platforms to educate citizens to adopt businesses in Micro, Small and Medium Enterprises (MSME) during pandemics. 

The smart city technology in Bandung provides a lot of business opportunities for anyone involved in MSME. Basically, MSME will act as service providers, logistical support and producers. On the other hand, the private and public sector will enhance the digital trade and e-commerce to support MSME. 

In essence, Bandung smart city requires the active role of citizens, public and private sectors. They have to move in accordance with regulations. Bandung still explores other potentials that can boost the smart city development. 

Other cities in Indonesia may apply strategies to improve economic growth by leveraging digital technologies like Bandung smart cities do. Integrating technologies in some sectors will smooth the project of 100 smart cities in Indonesia.

Philippines Sustainable Finance for an Even Better Economy

Every country in Asia needs to rack their brains in order to build a sustainable economy after the Covid 19 pandemic. One of them is the Philippines. This country has been able to adapt well after the global pandemic, although it is not easy to implement the Philippines sustainable finance

To realize this, of course, it requires many experts and reliable economists so that they are able to provide the best ideas and strategies for the Philippines global finances. This is also expected to be a long-term investment for the country’s economic prosperity. 

 

The Important of Sustainable Finance Framework in The Philippines 

All countries in the world have been negative affected by the Covid 19 pandemic. The Philippines is no exception. To cope with environmental and economic changes, the Philippines is proactively seeking solutions to these problems by promoting sustainable finance. 

This is a long-term initiative by the Philippines to promote and support green banking in the country. BAP or The Banker’s Association of The Philippines is also always committed these activities to the end for a much better future for the Philippine economy. 

Philippines sustainable finance can provide good benefits. For example, being able to minimize expenditure, cost-cutting and make the economy even more efficient. This will certainly have a good impact on the country. 

 

Long Term Financial Perpective in The Philippines 

The long-term financial perspective in the Philippines is carefully planned using a roadmap. The project contains various principles needed to develop the Philippines economy that is environmentally friendly and sustainable. 

The determination of the Philippines sustainable finance roadmap is certain to be able to provide benefits for both the public and private sectors. So, there is no limit for one sector only. Thus, it will be easy for all sectors to get information from the government. 

For example, financial or fiscal policies and the rearrangement of certain tax rates. These two things are very important to prevent economic problems. It is hoped that all sectors of the sector will be able to work well together for the sake of brilliant financial sustainable.  

 

The Important Role of E-Money and Online Transactions for Sustainable Finance  

One of the manifestations realized by the Philippines to support sustainable finance by implementing the use of e-money and other online transactions. This is a manifestation of the very good idea of the Philippines sustainable center bank finance, even the idea is considered a financially brilliant idea. 

The use of e-money has become a very popular trend in addition to cash transactions. This is evident from the data in the YCP Solidance white paper, namely an increase in e-money transactions reaching 36%, both in terms on inflow, outflow and use. 

It is predicted that the use of e-money can continue to increase from year to year. Especially considering that paperless transactions are very friendly to the environment. Transactions are also much safer and more convenient with e-money. This is also included in the sustainable finance market Philippines

Optimizing the Philippines sustainable finance requires cooperation and hard work from various sectors, both private and public. With good work, all the economic ideals can be much better. It’s not imposibble to escape the impact of a pandemic like today. 

Opportunities of Gaming and E-Sport Market in Southeast Asia

The gaming industry was monopolized by some huge firms from Europe, Japan, and the United States during the 20th century. But since the 2000s, there have been changes in this trend. The E-sport market in Southeast Asia started developing since small indie developers can develop easily.

Those small developers can easily target the global market, all because of the development of mobile devices and the internet. The internet eased those small developers in sharing the creativeness and products with so many gamers all around the world, with no boundaries.

The Potential Growth of E-Sport Market in Southeast Asia

Southeast Asia has lots of countries that are also reckoned with by its various game companies. The mobile games’ growth rates in Southeast Asia between 2014 and 2017 reached over 180%. The number is predicted to keep growing for the upcoming five years.

The CAGR or Compound Annual Growth Rate of Southeast Asia’s gaming industry is going to reach 8.5% between 2020 and 2025. The biggest Southeast Asia countries that have the biggest gaming markets include Indonesia, Thailand, Malaysia, Singapore, Vietnam, and also the Philippines.

According to esports in the philippines, one of various factors that drive the game industry’s growth in Southeast Asia countries is the internet infrastructure’s development and the emergence of the 5G technology which appeared in 2020. E-sport also started growing and developing because there are esports contents on the internet.

Gaming and E-Sport Industry Opportunity in Indonesia

The governments of some countries in Southeast Asia are like the government of China, they are involved in the local gaming industry. But the governments in Southeast Asia countries set some regulations that are looser than the ones set in China.

The foreign gaming and e-sport companies have a much better chance to expand the market in many countries in Southeast Asia, such as in Indonesia. Indonesia is one of the biggest countries in the world. This country is the 4th country that has the biggest population.

The population is dominated by the young generation who really loves to build online communities. The popularity of esports and mobile games in this country is a golden opportunity that the local game developers need to seize.

Opportunity in Singapore’s Gaming Industry

One unique thing about Southeast Asia is that the gamers spending in its countries is directly proportional to GDP or Gross Domestic Product per capita in every single country. For many years, Singapore has been considered the powerhouse or economic center in Southeast Asia.

Even though the population of Singapore is much smaller than the population in Indonesia, the rate of internet penetration is exponentially superior. It reached 80% of Singapore’s total population. Besides, 60% of internet users in Singapore are classified as active gamers who spend a lot on games.

Since the pandemic attacked all countries around the world, the e-sport market in Southeast Asia kept rising. People spent most of their time playing games at home instead of doing any other activities. Gaming industry is expected to keep growing which means Southeast Asia is a great e-sport market.

3 Sectors of Malaysia Manufacturing Industry Statistics

Manufacturing industry has played an extremely vital role in Malaysia’s economic transformation. Learn more about Malaysia manufacturing industry statistics to know how crucial this sector is and whether this is the right sector for your company that is going to expand to Malaysia.

Based on the data provided by the Department of Statistics in Malaysia, there are 1,028,301 people who are engaged in the sector of the local manufacturing industry. Every single employee has an average salary of RM 3,122 per month.

Malaysia’s Manufacturing Sectors with High Value

According to malaysia market report, 0ne of the manufacturing sectors in Malaysia that has higher value than the others is the medical and pharmaceutical sector. The industry of medical devices includes industries in a wide range from latex and rubber, plastics, textiles, engineering support, electronics, and machinery.

There are over 200 manufacturers of medical devices you can find in Malaysia. Most of those manufacturers are SMEs or small and medium enterprises. Medical gloves manufacturers are now the most famous manufacturing industry in Malaysia.

This industry sector also includes products that have higher value and advanced technology such as stents, cardiac pacemakers, electro medical, implantable devices, monitoring devices, and therapeutic devices.

Malaysia Manufacturing Industry Statistics in Electronic and Electric

Malaysia is known as a major producer of electronics as well as exporter. The electronics and electrical industry in Malaysia is one of the leading sectors in the manufacturing sectors. This sector significantly contributes to the manufacturing output of the country, about 26.94%.

The major destinations for exports are China, the United States, Hong Kong, Japan, and Singapore. The major destinations for imports are South Korea, the United States, and Taiwan. This electronics and electrical industry has a new area called FHE.

FHE is flexible hybrid electronics that underlies some new wearable electronics and industrial technologies. FHE is extremely helpful to produce smart products that are efficient, stretchable, flexible, low cost, and lightweight.

Automotive Manufacturing Industry Sector in Malaysia

There is a part of Malaysia’s manufacturing sector that is strategic and important. The automotive industry as well as the related sectors have 710,000 employees. This sector contributes up to RM 30 billion to Malaysia’s GDP.

Malaysia has 27 assembly and manufacturing plants that are producing commercial and passenger vehicles, sports cars that have composite body, also scooters and motorcycles. Malaysia also has over 600 manufacturers that produce automotive components.

The industry has made so many global automotive companies to set up the operations in Malaysia in order to take advantage of the consumer demand that is buoyant.

Other Manufacturing Industries in Malaysia

Malaysia also has some other manufacturing industry sectors such as the aerospace sector and chemical sector. Both of them are still growing and are expected to continue growing for the upcoming years. The growth of those sectors interest the investors to expand to this country.

Conducting research about Malaysia manufacturing industry statistics is a crucial step to take before deciding whether you are going to expand to Malaysia or not. Make sure you understand the right manufacturing industry sector before entering the market. Let the right teams help you with this.

 

Cambodia Construction Company’s Progress during COVID-19 Crisis

Cambodia construction company along with other industries which drive this country economy are also impacted by the COVID-19 spread. Cambodia as the fastest-growing economy worldwide doesn’t want to be stuck in this condition by providing accommodative measures to tackle the pandemic. 

Although the main industries of Cambodia have also undergone a significant fall in 2020 as a result of the pandemic. Construction, garment, and tourism start to regain back its normal state by showing the increasing growth rate at the early of 2021. 

Responsive Measures on Cambodia Construction Industry

This year, Cambodia has shown signs of recovery, particularly for large and key drivers of its economy such as construction, garment exports, and tourism. This recovery can be seen from the development of the country’s growth rate from -3.1 percent at the end of last year to 4 percent at the first quarter of 2021.

The generous support from the government is known to be the main factor that contributes to this progress. This increased growth rate is achieved as the country provides cash transfers at the beginning of this year to its citizens in order to support them during an elongated time of the pandemic. 

Besides the government support, as this year the COVID-19 starts to fall under control, many other countries begin to reopen their economy. This also affects the condition in Cambodia which also starts to raise. 

Poverty-Free Future of Cambodia

Besides facing the global crisis from the COVID-19 pandemic, another problem that needs to face Cambodia is poverty. Working with the World Bank and the National Institute of Statistics, this country conduct phone survey to track poor households. 

Back in June 2020, the number of poor households was 2.3 million. The pandemic unavoidably has increased the number of it despite the fact that around 4.5 million Cambodians have successfully passed the poverty level prior to the pandemic.

Although presently most citizens get their employment back, the pandemic has brought severity to Cambodia’s economy. The number of poor households has increased considerably and contributed to the decline of the country’s income. 

The pandemic which impacted the main business sectors in Cambodia such as construction, manufacturing exports, and tourism has dragged the country back into lower-income status. As the result, Cambodia needs to struggle to crawl into the upper-middle level by 2030. 

Cambodia’s Outlook for 2021

Cambodia market analysis expects this country’s main sectors to regain at varying paces. For instance, industrial production is predicted to grow by 7.1 percent, and the agriculture industry that gains by 1.3 percent this year. 

Other main industries like construction, tourism, and services are likely to regain at a slower pace. The result of market analysis helps Cambodia to identify viable growth strategies that can be applied to different industries in this country. 

This will give an idea related to the prospects and opportunities that those main industries can take to improve during the crisis caused by the COVID-19 pandemic.

Cambodia construction company plays an important to the country’s recovery during a pandemic. Although it might recover at a slower pace, the construction industry can be expected to show positive impacts in 2021.