Dr. Alexander Evengroen, a renowned figure in Cambodia’s business landscape, has unveiled his vision for transforming the nation into a high-income country by 2050.
As Chairman and Managing Director of Evengroen Solution Group Co., Ltd., Chairman of the Cambodia Association of Renewable Energy, and CEO of ASEAN Realtor Inc. and Global Skills Coaching & Consulting Co., Ltd., Dr. Evengroen shared his strategic insights on maximizing opportunities in sectors such as agriculture, real estate, garment manufacturing, banking, foreign investment, and renewable energy.
His emphasis on self-sustainability and government-private sector cooperation underscores the importance of unified efforts to ensure Cambodia’s long-term economic growth.
Dr. Evengroen, who is positioning himself to become a government advisor, reaffirmed his support for Cambodian Prime Minister Hun Manet’s recommendations to achieve middle-income status by 2030 and high-income status by 2050. He expressed his trust in the government’s ability to lead Cambodia to economic success.
Key Opportunities in Leading Sectors.
Dr. Evengroen detailed the untapped potential across various sectors, highlighting that Cambodia’s economic growth hinges on unlocking the benefits in agriculture, real estate, and manufacturing, among other industries.
1. Agriculture: A Pillar of Economic Growth
As a sector that contributes over 20% to Cambodia’s
GDP, agriculture has significant potential for growth. Dr. Evengroen stressed the need to improve productivity through technological advancements and sustainable farming practices. He encouraged both local and international investors to explore opportunities in organic farming, agro-processing, and export expansion, especially for rice, rubber, and fruits.
“The potential to increase
agricultural exports and improve food security is immense. With innovation and investment, Cambodia’s agricultural sector can thrive and contribute even more to the economy,” he said.
2. Real Estate: Expanding with Urbanization
Cambodia’s real estate market continues to grow at an unprecedented rate, driven by urbanization and infrastructure projects.
As CEO of ASEAN Realtor Inc., Dr. Evengroen emphasized the substantial opportunities for investors and developers in Phnom Penh, Sihanoukville, and Siem Reap, which are seeing an influx of residential, commercial, and industrial projects.
“The growth in real estate is one of the most exciting developments in Cambodia. Investors can expect high returns from residential and commercial properties in urban centers,” he explained.
3. Garment Industry: Staying Competitive
With the garment sector responsible for 80% of Cambodia’s exports, maintaining competitiveness on the global stage is critical. Dr. Evengroen highlighted how Cambodia can differentiate itself through sustainable practices and ethical manufacturing, making it a preferred partner for international brands looking to source responsibly.
4. Banking and Financial Services: Tapping into Innovation
Cambodia’s banking industry is ripe for innovation, particularly in the fintech space. Dr. Evengroen pointed out that the country’s liberal financial policies and growing digital adoption offer significant opportunities for foreign financial institutions and investors.
“The openness of
Cambodia’s banking sector makes it one of the most attractive in the region. Digital banking, mobile payment solutions, and financial technology have the potential to redefine Cambodia’s financial landscape,” he stated.
Supporting Foreign Investment and Business Growth
Dr. Evengroen reiterated the Cambodian government’s pro-investment policies, which make it easier for foreign companies to establish a presence in the country. Cambodia’s flexible company registration procedures, tax incentives, and the ability to repatriate profits freely are attractive to global investors
Source: LinkedIn.com
