It is time to give Cambodia the recognition it deserves as the “Asian Tiger of the 21st Century”. Cambodia is undergoing industrialization and has maintained exceptionally high growth, sustaining an average annual growth rate of 7.7 percent between 1998 and 2019, making it one of the fastest-growing economies in the world. Facts about Cambodia: - Population 16.9 million, up from 12.1million in 2000 - Life Expectancy 70 years old, up from 58 years old in 2000 - Population Grown 1.4%, downward trend (2.2% in 2000) - GDP 26.96 billion, up from 3.65 billion, 27x since 2000 - GDP per capita USD 1,591, up from USD 300.6, in 2000, 5x - Unemployment .6%, one of the lowest in the world - Inflation 2.9% (2021) - Intentional Homicides, 2 per 100,000, down from 5 in 2000, One of the safest countries in the world. Philippines is double (4), U.S.A. at 7. - Central Government Debt, USD 9.8 billion, Indonesia is USD 414 billion - Foreign Direct Investment, Net Inflow, 14% of GDP, up 3.2% in 2000 - Mobile Cellular Subscriptions per 100 people, 126 in 2020, in 2000 it is 1.1 Why "Invest Cambodia" as the “Asian Tiger of the 21st Century” Fastest Growing Economy, Cambodia’s economy sustained an average annual growth rate of 7.7 percent between 1998 and 2019, making it one of the fastest-growing economies in the world. Cambodia's growth rebounded to an estimated 3.0% in 2021 after a contraction of 3.1% in 2020. 5.3% growth forecast for 2022. 100% foreign-ownership for Foreign Investors, With the exception of some categories (cigarette manufacturing, movie production, rice milling, gemstone mining and processing) foreign investors can fully own companies in Cambodia, and there is no restriction on the directors or shareholder’s nationality and no restriction to trade. To own land, 51% of the company’s shares be owned by a Cambodian citizen. Mainly Dollarized Economy, Cambodia still has a high level of dollarization, eliminating the risk of sharp exchange rate adjustments and mitigating capital flight. Freely convertible, ease of repatriation of profits. Strategic Location Cambodia is strategically located in the heart of Southeast Asia Qualified Investment Projects, Foreign companies that are registered as qualified investment projects (QIPs) will benefit from tax exemptions or special tax depreciation. Free Trade Agreements and Regional Comprehensive Economic Partnership (RCEP), recently signed its bilateral free trade agreement with China. RCEPs open up new market opportunities for Cambodia and will allow Cambodia to enjoy nearly free market access to a combined market. Minimum Capital Requirement, The minimum share capital for setting up a private limited company is KHR 4 million (USD 1,000) Corporate Taxes, Cambodia has one of the lowest corporate tax rates in Southeast Asia. The standard corporate income tax rate for medium and large taxpayers is 20% Youthful Population 16 million Cambodians, around half are under 25.

1. "An Overview of the Cambodian Market. What drives
the Economy & What Opportunities Are there for
Local and Multinational Companies and Individual
Investors"
July 3rd, 2022
Anthony Galliano, President of the American Chamber of Commerce
Group CEO of Cambodian Investment Management Holdings

2. Anthony, is the President of the American Chamber of Commerce in Cambodia, Group CEO of CIM Holdings, Chief Executive
Office of Cambodian Investment Management and Cambodian Investment Management Tax Services,, Chairman of
Cambodian Investment Management Audit Services, Phnom Penh BG Serviced Office, Premium Human Resources, Affinity Star
Insurance Broker, and Dynamo Innovative Digital Advertising,. He is also President Director of the Indonesian company
Covenant International Management.
Anthony is a member of Government-Private Working Group D and the Tax Working Group.
Anthony was a career corporate banker with 27 years’ international experience with ANZ, Citibank, J.P. Morgan Chase and Bank
of New York. Beginning his banking career in the United States, he has been stationed in London, Brussels, Hong Kong and
Bangkok with Citibank and Indonesia and Cambodia with ANZ. His assignments included Asia Pacific Region Head for Global
Securities Services for Citibank, Corporate Bank Head of Citibank Bangkok, ANZ Cambodia, and ANZ Indonesia
Anthony is on the board of the Payscout, Vibe Café Hospitality, Fazwaz (Cambodia), Tanncam Investments Pte. AMCHAM
Cambodia, Cambodia Restaurant Association, and all group companies under CIM Holdings. Anthony holds a degree in
Accounting, a diploma in Cambodian Tax from CamEd Business School, and has passed the NASD licenses for General
Securities Representative, General Securities Principal, Uniform State Law, and Registered Investment Adviser.

3. CAMBODIAN INVESTMENT MANAGEMENT HOLDING CO., LTD. (CIM Holdings) is a holding company jointly
owned by Anthony Galliano and Tanncam Investment, The company has majority and minority positions or
controlling stakes in the following companies.
 Cambodian Investment Management Tax Services (a licensed tax agent)
 Cambodian Investment Management Audit Services (a member of KICPAA)
 Backyard Café
 Cambodian Investment Management (Corporate Finance and Company Incorporation, Company Secretarial
Services)
 Phnom Penh BG Serviced Offices
 Premium Human Resources
 Affinity Star Insurance Brokers Co. Ltd
 Star Insurance Broker (Laos)
Registered address below:
 14 Street 106, Phoum 8, Sangkat Wat Phnom, Khan Daun Penh, Kingdom of Cambodia
ABOUTUS

4. Founded in 1996, AmCham is an independent non-profit membership organization of
both American, International and Cambodian companies who share a connection to
commerce. Our role is supporting our Members’ growth and success. AmCham
businesses play an important role in the Kingdom’s story of economic development and
are a leading voice in Cambodia’s international business community.
- 220 Members, 80% growth since January 1st, 2021. “Members as Customers”.
- 7 Advocacy Committees, Tax and Legal, Spirits, CSR, Real Estate, Women’s, ICT, and
Education
- One of the most active and engaged Chambers in the country
- Most lauded networking events, 50% Khmer Companies and 50% International
- AmCham Channel

5. I
“INVEST CAMBODIA”
- Promoted by AmCham and now a Mantra of the Chamber
- Cambodia as the “Asian Tiger of the 21st Century”. Asian Tigers were
developed East Asian economies of Hong Kong, Singapore, South
Korea, and Taiwan. Between 1960s and 1990s, they underwent
rapid industrialization and maintained exceptionally high growth
rates of more than 7 percent a year. Later Tiger Cub economies,
Indonesia, Malaysia, Philippines, Thailand, and Vietnam, followed
the same growth model as the economies of Four Asian Tigers. It is
now Cambodia turn to be recognized as the new “Asian Tiger”

6. I
“INVEST CAMBODIA”
- - Misguided perception as Cambodia as a poor, underdeveloped, even still
recovering from war and genocide. This is far behind Cambodia and almost 50
years ago. Cambodia is a “lower middle income” (2015) country same as
Argentina, Brazil, Indonesia, and the Philippines. Aspiring to attain upper
middle-income status by 2030, I am calling it earlier, by 2028.
- Address historical concerns head on, poor infrastructure (greatly improved),
electrification (now 87%), Deforestation (forests still 46% of land area), Health
(life expectancy 70years), Major strides in Easy of Doing Business,
Improvements in Legal System, Government Engagement with Private Sector.

7. WHY CAMBODIA?
- Fastest Growing Economy, Cambodia’s economy sustained an average annual
growth rate of 7.7 percent between 1998 and 2019, making it one of the fastest-growing
economies in the world. Cambodia's growth rebounded to an estimated 3.0% in 2021
after a contraction of 3.1% in 2020. 5.3% growth forecast for 2022.
- 100% foreign-ownership for Foreign Investors, With the exception of some
categories (cigarette manufacturing, movie production, rice milling, gemstone mining
and processing) foreign investors can fully own companies in Cambodia, and there is
no restriction on the directors or shareholder’s nationality and no restriction to trade. To
own land, 51% of the company’s shares be owned by a Cambodian citizen.
- Mainly Dollarized Economy, Cambodia still has a high level of dollarization,
eliminating the risk of sharp exchange rate adjustments and mitigating capital flight.
Freely convertible, ease of repatriation of profits.
- Strategic Location Cambodia is strategically located in the heart of Southeast Asia

8. WHY CAMBODIA?
- Qualified Investment Projects, Foreign companies that are registered as qualified
investment projects (QIPs) will benefit from tax exemptions or special tax depreciation.
- Free Trade Agreements and Regional Comprehensive Economic Partnership
(RCEP), recently signed its bilateral free trade agreement with China. RCEPs open up
new market opportunities for Cambodia and will allow Cambodia to enjoy nearly free
market access to a combined market.
- Minimum Capital Requirement, The minimum share capital for setting up a private
limited company is KHR 4 million (USD 1,000)
- Corporate Taxes, Cambodia has one of the lowest corporate tax rates in Southeast
Asia. The standard corporate income tax rate for medium and large taxpayers is 20%
- Youthful Population 16 million Cambodians, around half are under 25.

9. DATA BANK – “The Metrics”
- Population 16.9 million, up from 12.1million in 2000
- Life Expectancy 70 years old, up from 58 years old in 2000
- Population Grown 1.4%, downward trend (2.2% in 2000)
- GDP 26.96 billion, up from 3.65 billion, 27x since 2000
- GDP per capita USD 1,591, up from USD 300.6, in 2000, 5x
- Unemployment .6%, one of the lowest in the world
- Inflation 2.9% (2021)
- Intentional Homicides, 2 per 100,000, down from 5 in 2000, One of the safest
countries in the world. Philippines is double (4), U.S.A. at 7.
- Central Government Debt, USD 9.8 billion, Indonesia is USD 414 billion
- Foreign Direct Investment, Net Inflow, 14% of GDP, up 3.2% in 2000
- Mobile Cellular Subscriptions per 100 people, 126 in 2020, in 2000 it is 1.1

10. Economic Drivers:
- Economic Pillars, Garments, Real Estate an Construction, Tourism, Agriculture
- GDP expected to grow 5.3% in 2022, 6.5% 2023
- Inflation 4.7% in 2022, 2.2% in 2023
- Agriculture in Cambodia's gross domestic product is 22 percent, industry contributes
approximately 35 percent and the services sector contributes about 37 percent.
- Strong recovery in 2021 in light manufacturing. Exports of garments, footwear, and travel
goods recovered exceptionally. Non-garment manufactured products continued their
robust expansion, with exports rising by 30.7%.
- Agriculture exports rose by 19.0% in 2021 on solid growth in cassava, banana, and rubber
- Services contracted by 0.4% on a continued steep decline in demand for food,
accommodation, transportation, and other in-person services.

11. Economic Drivers:
- Restrictions on international travel, which were in place for most of 2021, caused an
85% drop in international tourist arrivals
- Growth in the economies of major trading partners will continue to support the
strong momentum of Cambodia’s merchandise exports and inflows of foreign direct
investment
- Industry output is expected to grow by 8.1% in 2022 and 9.1% in 2023. Growth in the
garments, travel goods, and footwear segment will be driven by strong external demand
supported by a relocation of orders from the People’s Republic of China and neighboring
countries.
- The services sector is projected to rebound to 4.8% this year and accelerate to 6.8% in
2023. The recovery in 2022 will reflect a rebound in hotels and restaurants from the
contraction of the last 2 years and continued growth in wholesale and retail trade,
transport and communications, and real estate.

12. Economic Drivers:
- The Law on Investment, adopted in October 2021, will help attract more domestic and
foreign direct investment into manufacturing. The law provides a more comprehensive,
transparent, and predictable legal framework to make Cambodia a more attractive
investment destination.
- Specific incentives, 5 provided under the law for investing in industries that support
regional and global supply chains, and for the production of electronics, spare parts,
mechanical and machinery equipment, and agro-processing, among other
- Cambodia has an opportunity to develop new manufactured products for export
- New regional trade agreements will promote inward investment and exports.
- On 22 December 2021, the government launched the strategic framework and programme
for post-covid recovery 2021-2023, three pillars are based on the three R’s – Recovery,
Reform, Resilience. Economic diversification, trade facilitation, law on Special Economic
Zones and implementation

13. QUESTIONS AND THANK YOU