Phnom Penh, Cambodia (CNN) - the most common image of Cambodia is the land of the ancient temples and budget travellers. There is now something else involving Cambodia on the map: foreign investors.
Of recent devastating Cambodia series history, a generation of return to the country. 1975-78, The Khmer Rouge Communist killed intellectuals, destroyed the education system and pushed for an agrarian society which required to be uprooted and separated families.
At the end of terror, between 1.7 million to 3 million Cambodians are estimated to death at the hands of the Khmer Rouge. The Vietnamese occupation that followed and the civil war between a weakening of the Khmer Rouge and the Cambodian Government also stripped the country of stability for another two decades.
Today, the country is politically stable with a democracy that is a constitutional monarchy. Children who have survived the era of the Khmer Rouge are now parents. Half of the country is now less than 25 years. Each year, a quarter of a million young Cambodians enter the employment market and the Government need créer create jobs for them, said Stephen Higgins, CEO of ANZ Cambodia.
"The Cambodian Government is remarkably was particularly from a Communist background." Any what sector you can have 100%. It is here that are 100% foreign-owned banks. "Most of manufacturing is 100% owned by foreigners".
Cambodia is one of the poorest countries in Asia with more than 80% of the population living in rural areas. Labor is cheap in Cambodia - cheaper than China, Viet Nam or the Thailand. Minimum wage is $ 61 per month.
"My success is labor." My work is very young. If there is a set of manual skills or artistic ability I need, these people are on it. "And I pay a third of the cost of my Chinese counterparts," explains Scott Huff, owner of innovate International, which made a pet of niche dealing in Cambodia for the American and European markets.
Brad holes is an American who has set up an animal plant behaviour in Phnom Penh. His company, "first & Main." employs 350 Cambodian workers and is already looking to expand in a larger plant.
As one of three American manufacturers currently in Cambodia, holes, said he feels like a pioneer who has to travel with the challenges that arise in a developing country. For example, it is not easy to obtain funding to Cambodia.
"I spoke to the banks main lines of credit." It is not available, "says holes." "Therefore we rely on private equity funds and other funds - such as my own personal funding or trade finance."
The road to success in Cambodia is filled with chicken nests that reflect some of the infrastructure. Power outages occur once a week because power plants are isolated in different provinces and there is no national electricity. The cost of power is more expensive in Cambodia from the other countries of the region.
After several years of delay, the Cambodian stock exchange opened in July, but there is no trading companies yet. The stock exchange said it plans to list its first two companies at the end of this year. They are public companies, authority of water of Phnom Penh and Telecom Cambodia.
No private enterprise came before listing yet. Part of the problem is securities rules require audited financial statements by one of the three global accounting firms appointed by the Cambodian scholarship for three years.
"When I look at our large local companies, I cannot think of a single which has for the time being, audited financial statements" said Higgins.
Still, Cambodia holds appeal for the pioneer investor who wants to get in first and who has the patience to get on the bumps on the road.
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