The fact hasn’t escaped many people: Cambodia as a whole is growing very rapidly, and Phnom Penh even more so. The cityscape is evolving every day, a skyline is now appearing, and big international firms are arriving. This is the point that is interesting us. A few years ago, only the courageous were considering coming here. Now, famous brands are battling each other for a slice of the Phnom Penh market. It has several consequences, some more surprising than you think. Let’s find out in this article on the development of Phnom Penh and its effects on small businesses.
The Good Effects of the Development of Phnom Penh
Investment is an undisputedly good thing, and Phnom Penh is no exception to this. International brands create jobs, provide valuable training to help people develop and grow, renovate the real estate for their offices and shops, promote international standards, value work ethics and at the end, help Cambodia to integrate into the global economic community. One would believe there is no downside to that. Unfortunately, it is not that easy.
The Bad Effects of the Development of Phnom Penh
While they are thriving, many small businesses are suffering from the competition. The time where you would see most businesses operated by independent Cambodian families is over. No matter how hard their work, or how kind their welcome, a mart or restaurant cannot compete against the juggernauts of Aeon Mall and the like. The traditional coffee stand will be hard pressed to keep going against Brown Coffee. The supermarkets are growing in traffic every day, with the appeal of the regular outdoor markets decreasing accordingly. Does that mean integration to this global economic community is a nuisance to the entrepreneurs?
Finding a Middle Ground
Investments are truly a positive thing, but they can overcome a country, its characteristics, or even its culture. They must come with proper regulations to help them to develop their activities freely while protecting the citizens and what make them unique. The law must be respected so the development of Phnom Penh, and Cambodia in general, allow everyone to operate with peace of mind, and so ambition can still be possible for the locals.
To that end, the CLPD created a certificate course on HR Essentials for Non-HR Managers. We disclose and teach the fundamentals of multicultural management, development and respect that every country and worker must expect and receive.
Thank you for reading.