Goldfame Group’s Director and Founder & Executive Director of Urban Village & Factory Phnom Penh Ms. Catherine Chan has recently shared the group’s 25 years of investing experience in Cambodia and promotes the country’s potential investment opportunities in a webinar organized by the City University of Hong Kong.
Attracted nearly 200 participants mostly from Hong Kong and Asia region, the online discussion focused on Cultural Diversity and Efficient Management: Hong Kong Professional Services, Overseas Investments and Special Economic Zones in Cambodia.
The panelists feature some of the key leading investors in the country including Goldfame Group, Cambodia’s biggest Hong Kong Investor and Cambodian Government’s representatives from the Ministry of Foreign Affairs and International Cooperation, the Council for the Development of Cambodia, the Senate of Cambodia and Hong Kong Business Association of Cambodia and more.
The discussion aims to address some of the obvious commonly shared questions by foreign investors, including: What are the opportunities and risks of investing or expanding business operations in Cambodia? What unique roles could Hong Kong professional services play to facilitate mutual advancement?
Apart from sharing Goldfame Group’s over-two-decade legendary in Cambodia, Ms. Chan compared the country’s fast development from the 1990s when Goldfame just entered Cambodia with the country’s modern days in which she noticed that the country has been developing dramatically with new infrastructure including buildings, airports, deep seaports and highways.
“We have arrived in Cambodia 25 years ago. I believe we are the oldest investor in Cambodia from Hong Kong. There is a lot of changes. You can see many tall buildings now. Cambodia is the fastest developing country in the region,” Ms. Chan said.
Ms. Chan has encouraged more investors, especially investors from Hong Kong to invest in Cambodia by highlighting the country’s potential investment opportunities and the Government’s relaxed regulations put in place to attract foreign investments including the open door policy, less income tax, the use of US currency and no restriction on foreign money transfers.
“Cambodia is one of the countries that have an open policy investment. Even though you are a foreigner, you can still hold 100% foreign ownership of the company. It is not like China, Thailand or Vietnam which you can only hold 49%. It also has a low tax policy which you can sometimes enjoy up to 9 years free tax,” Ms. Chan said.
“I think the experience of Goldfame is a really important reference for our future investors, people who are interested in joining Cambodia’s business portfolio because Goldfame has started the investment pretty early in the 1990s. They have developed from the garment industry now to property management and sustainable development,” said Professor Li, the panel discussion moderator and director of CSHK, City University of Hong Kong.
“They have a lot of experience in various dimensions and also have a sense of understanding of how the history and changes in policies in Cambodia can impact on new investments and ongoing investments,” Professor Li added.