KPMG in Cambodia was established in 1994. Today, with over 200 professionals, KPMG is one of the largest professional services firms in Cambodia with a balanced mix of international and local clients.
Cambodia is a member of ASEAN and the WTO, and enjoys Most Favored Nation (MFN) status and Generalized System of Preferences (GSP) program benefits and Everything But Arms (EBA) program benefits when trading with other countries, especially the United States (US) and countries in the European Union (EU).
Cambodia's GDP grew by 7% in 2017 and is predicted to be 7.2% for the year 2018. The inflation rate was 3.2% in 2017 and is predicted to be 4.5% in 2018.
Industry is the primary source of growth, driven mainly by export of garments and footwear to the US and the EU. Cambodia's large supply of low-cost labor and investment-friendly regulations have attracted substantial foreign direct investment (FDI) into the production of garments and footwear.
Commercial banks are a primary source of funding. Limited access to capital is one of the constraints of doing business in Cambodia.
By March 2018, the key players in Cambodia’s financial sector were 39 commercial banks, 6 representative offices, 15 specialized banks, 74 micro-finance institutions, 11 financial leasing companies and 25 insurance companies.