In 2017 a new submarine telecom cable connected Cambodia with Thailand and Malaysia. This is a giant step for business in Cambodia that will help both local and foreign companies in the country release their potentials.
The Cambodian tele giant Telcotech will soon start operating its new submarine telecom cable that will connect Cambodia, Thailand and Malaysia. The cable will furthermore connect with the giant Asia-America Gateway, a 20,000 km long cable connecting USA and Asia.
As a result the Cambodian e-commerce market will soon be seamlessly connected with the rest of the world, and the booming country will enjoy a significant rise in internet speed and capacity.
The MCT submarine cable will be a giant step for e-commerce in Cambodia; An absolute game changer that will help companies in Cambodia release their e-commerce potentials.
The MCT Submarine cable is operated and owned by the Cambodian tele giant Telcotech. It is 1,300 kilometers long, and it connects Sihanoukville in Cambodia with Rayong in Thailand and Kuantan in Malaysia. It will allow traffic of speeds of up to 100 gigabits per second, and its overall capacity will be at least 30 terabits per second. Its construction costs are estimated to be approximately 100 million dollars.
100 million dollars! The fact that a tele company chooses to invest this amount of money is a huge indication that there is a lot of money to be earned in Cambodia both in the near future and in the long run.
MAIO Mall is showing the way
One of the big players already on the Cambodian e-commerce market is MAIO (My All in One) Mall. Its is the biggest e-commerce platform in Cambodia and cooperates with Amazon.
MAIO Mall was founded in 2015 in order to boost growth in the Cambodian e-commerce market.
On the site www.maiomall.com Cambodians buy food, fashion, jewelry, watches, computers, phones, cosmetics, books, music, toys and various other items.
One of the issues hampering e-commerce growth in Cambodia in the past was the ”trust issue”. Many Cambodians did not trust the security levels of online transactions.
But MAIO Mall solved this problem by cooperating with the bank ACLEDA, who handles all the transactions. It has boosted consumer faith in online shopping that a bank takes care of the actual exchange of money for products instead of the company itself.
Huge demand for companies with knowledge
Chhaleta Charoat and her boyfriend Borey Chum are other examples of Cambodia based entrepreneurs who have found a gold mine. They entered the Cambodian business scene in 2014 when they started selling cosmetics online under the name ”Roserb”.
In an interview with business website www.techinasia.com, Borey Chum explains that people selling cosmetics at local markets are clueless about the products they are selling, and their products are often fake – to the frustration of many customers. Therefore they realised that there was a huge demand for a cosmetics e-shop with quality products and all the information about the products that customers need. Or put in other words: An e-shop with the customer in focus.
Today Roserb is much more than cosmetics, selling more than 2,000 items within fashion, jewellery, accessories, cosmetics and baby products.
Easy to start up in Cambodia
In 2014 the consulting company Confluences opened its office in Cambodia’s capital, Phnom Penh. Its purpose is to help start up companies from all over the world entering the Cambodian market.
The managing director of Confluences, Soreasmey Ke Bin, emphasises in an interview with Phnom Penh Post that Cambodia is a good place to start for business men and women who want to enter the ASEAN region.
”We pitch Cambodia as a place where startups can begin their integration into ASEAN. There is a big advantage here with how easy it is to get a visa but also the fact that you can create a business structure without having to be registered for several months. There is a lot of freedom to be an entrepreneur here, which allows a startup to start much more easily than elsewhere,” he says.
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