Thailand
High-end fashion designer picks Cambodia as investment destination
A delegation from a high-end fashion and accessories producer has decided on Cambodia as their investment destination.
They came to this conclusion after having met the Minister Delegate to the Prime Minister and Secretary General of the Council for Development of Cambodia (CDC), Sok Chenda Sophea yesterday. The delegation held detailed discussions on the necessary steps to apply for the various licenses and permits and sought detailed information on the ‘Qualified Investment Project (QIP)’ requirements.
The decision of this company is based on the fact that Cambodia has a long-standing culture and civilisation, which is a key element for the company to harmonise its range of products that are planned for production in Cambodia.
The company has reportedly been studying the investment potential in Cambodia since the beginning of 2019 and is expected to make its investments by 2024.
New luxury markets are rising even though the US and Europe continue to dominate. Around 95 percent of luxury brands have seen positive growth in 2022. The luxury market grew by about 21 percent in 2022.
According to reports by ‘Money Week’, luxury brands are basically immune to price structuring and inflation. “Their margins are high, and they can put up their prices because that is what their deep-pocketed customers already expect.” Thus, when investing and reselling the item, you might expect the same high return.
There are also benefits to investing in high-end items. From increasing your self-confidence to improving your social status, luxury items can offer more than just a momentary thrill. Luxury brands speak for themselves. They are not only timeless classics, but they can be a great investment as well.
It said the cross-border cooperation among investment agencies could help with peer-to-peer learning and facilitate the creation of partnerships between investment authorities in different countries.
To this end, a number of initiatives have been launched aimed at enhancing the cooperation for investment facilitation and development between AMS, as well as between AMS and their RCEP partners, the study pointed out.
It highlighted the Cambodia-Japan Cooperation Center (CJCC) as one example of a cooperation project between an ASEAN country and an RCEP partner.
The CJCC was established in 2004 with the assistance and cooperation of the Japan International Cooperation Agency (JICA). Among a wide variety of programmes, the CJCC offers an “Accelerator Program” that is designed to grow “investment-ready entrepreneurs” by providing business capacity development as well as creating business collaboration and fundraising opportunities with Cambodian and Japanese businesses. Further, the CJCC offers Japanese language courses for business as well as management-related courses to Cambodian citizens.
Similarly, other examples of cooperation between ASEAN and RCEP partners include the ASEAN-Republic of Korea Plan of Action (2021-2025), which is notable for its targeted concern for specific kinds of investors and investments, including, notably, investments in green technology, it noted.
While the potential role of foreign direct investment (FDI) in promoting sustainable development is well recognised, the report revealed that significant gaps exist in these instruments with respect to linkages between investment facilitation and sustainable development.
The report also recommended that international organisations can play a role in assisting AMS and their RCEP partners in navigating legislative and regulatory action to promote
and facilitate sustainable FDI. An “Action Plan” or “Action Menu” could be established that provides guidance through a step-by-step approach with concrete tools, policies and processes that all integrate sustainable development concerns, and consequently facilitate sustainable FDI, it added.
Source: https://www.khmertimeskh.com/501213434/high-end-fashion-designer-picks-cambodia-as-investment-destination/