29/06/2017 – News / InvestAsian / Cambodia / Asia
Index names Cambodia as Asia’s most attractive destination
According to research conducted by analysis firm InvestAsian, Cambodia is the most attractive destination for investment in Asia.
The company ranked 15 countries based on a range of factors including economic growth, openness to foreign investment, along with ease of banking and doing business.
Cambodia came out on top, as a country that has experienced robust economic growth, is open to foreign property and business ownership, and has simple processes to open bank accounts and obtain long-term visas.
“Many countries in Asia are growing quickly,” remarked Reid Kirchenbauer, Founder of InvestAsian, “but a combination of rapid growth and business friendliness helped Cambodia rise above the rest.”
Despite the recent bad publicity, the Philippines ranks highly at number two on the list, thanks to its strong economy, the potential for foreigners to own property and ease of getting a visa.
And even though Malaysia (ranked third in the list) has the lowest GDP growth of anywhere in the top five, it is nonetheless one of the few places in Asia where foreigners can buy and own land. In addition, the Malaysia My Second Home (MM2H) programme allows investors to obtain a visa and live in the country with ease.
China also ranks highly at number four thanks to its strong growth rate. However, unfortunately for those looking to invest in China, achieving freehold property ownership is almost impossible.
Vietnam, in fifth place, isn’t the fastest growing country in the region, nor the friendliest to foreign investment, it’s simply better than most other places in Asia, advised InvestAsia. All land in Vietnam is owned by the state, but foreign businesses face only moderate challenges.
According to the research, the worst Asian country in which to invest is Brunei – the only destination on the index that has experienced negative growth over the past five years. Foreigners are also unable to own property or the majority of a business in the tiny nation, which has a landmass of less than 5,800km.
Japan is ranked second least attractive destination for investment, with tepid growth and restrictive banking and visa laws, while Hong Kong lingers third from the bottom in the index.
Here are the fifteen countries ranked:
2. The Philippines
10. South Korea
13. Hong Kong
To review the index in full, visit: www.investasian.com/invest-asian-index/