Singapore’s Association of Small and Medium Enterprises (ASME) plans to open its first business centre abroad in Phnom Penh next year, according to Channel NewsAsia.
The centre aims to explore investment opportunities, particularly in infrastructure and education. Claiming Singapore’s SMEs often lag rivals such as Taiwan, Hong Kong and Korea in exploring foreign opportunities, the association would aim to facilitate early entrance to the Kingdom.
“We think that in the next five years, Cambodia would be the next big thing, possibly even as big as Vietnam and being relatively untapped. This is the right time to be in Cambodia right now,” ASME CEO Bryan Teh was reported as saying.
The report estimated there was over US$200 million in bilateral business opportunities, and said there is currently no Singapore representative or assistance in the Kingdom. ASME and the Singapore embassy were unavailable for comment.
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