Cambodia – One of the fastest growing economies in Asia
With an average annual GDP growth of 7.7%, Cambodia is one of the fastest growing economies in Asia. Cambodia’s economy is expected to remain this growth rate in the coming years.
In order to attract foreign investment, Cambodia’s government has made progress in developing liberal trade and investment policies. Cambodia has signed and joined numerous trade agreements including World Trade Organization (WTO), US-Cambodia Trade and Investment Framework Agreement (TIFA) and Asian Free Trade Agreement (AFTA). Foreign companies can find extensive opportunities in several sectors such as agriculture, education, clean energy, telecommunications and transportation.
As a new and thriving market, Cambodia offers great opportunities and few competition. Cambodia’s market is full of potential with GDP of $20.2 billion and population of 16 million people. With young population, Cambodia is a large consumption market and an ideal place for labor-intensive industries. Statistic shows that more than 50% of Cambodian companies still do not have online presence, which gives foreign companies favorable chances to expand their visibility and achieve more sales.
As one of the fastest growing economies in Asia, Cambodia is indeed a potential destination for foreign investment. However, there are certain challenges for foreign companies when doing business here. Two of the main obstacles for overseas business are cultural differences and language barriers.
Khmer is the official language of Cambodia. It is primarily an analytic, isolating language with no inflections, conjugations or case endings. Instead, particles and auxiliary words are used to indicate grammatical relationships. Khmer is a difficult language to learn since the words are not separated in a sentence and the sounds are quite hard for foreigners to replicate. Khmer is written with the Khmer script, not with Latin alphabet like Vietnamese or English. In terms of vocabularies and writing system, Khmer is a unique and complex language. Therefore, only native Khmer speaking translators can produce the perfect Khmer translation.
Regarding culture, Cambodian have a unique Khmer belief which was built from the syncretism of indigenous animistic beliefs and the Indian religions of Buddhism and Hinduism. 80% of Cambodia’s population are Buddhists. Cambodian culture is far different from Western ones, which requires thoughtful Khmer localization strategy if you plan to do business here.
Our Khmer translation and localization service
You should be well aware that Khmer localization is much more than Khmer translation. You cannot just have Khmer translation for your marketing or website content and neglect Khmer localization process. Translation is just the start of globalization.
With native Khmer speaking translators and localization experts, we provide high quality Khmer translation and Khmer localization service. We ensure the accuracy and perfectness of our service so that you will always have peace of mind even when your project is in a rush.
We are the provider of Khmer translation and localization that you can trust!