Always eager to share informations about tech and Cambodia, today, we had the pleasure to read a very good article about business opportunities in Laos, Myanmar and Cambodia, written by Jay Jootar, CEO of The VC Group.
This analysis comes along with the upcoming Asean Economic Community, which is expected to create a bunch of opportunities in many fields in South East Asia. As the article focuses on Laos, Myanmar and Cambodia (MLC), highlighting their common potential, we’d like to relate its content as far as tech and Cambodia are concerned.
The author mentions a very interesting fact related to how users experiment new technologies in those regions. He explains that, contrary to other countries where the mobile evolution starts from basic phones, tending to be upgraded with smartphones, here, a majority of people tend to start their mobile experience straight with a smartphone. Indeed, as observed in Cambodia, although the use of basic devices remains popular, it appears that especially young people and teenagers massively own smartphones. Streets of Phnom Penh are crowded with people head bent on their iPhones, Galaxy, Lumia (etc…), texting, “Facebooking” or playing mobile games. It doesn’t mean that every single person in Cambodia already owns a smartphone, but we still must admit that compared to other emerging markets, Cambodia gets a massive and impressive use of smartphones and 3G subscriptions.
About “burning steps” if we can say, it is also true that in Cambodia, many people already master the use of tablets (iPad, Galaxy Tab…) and high standard materials, and did not necessary start with a use of a basic laptop. Once again, contrary to some other emerging markets, Cambodia disposes of a huge amount of high-tech hardware resources.
Still, as the author mentions, the country remains in need of specific infrastructures such as online payment, mobile services and social networks improvements. Indeed, as you may already know, online payment is a real issue in Cambodia, as many e-commerce ideas and projects are blooming, but always meet the same barrier of online payment. Thus, there could be huge opportunities for companies able to bring solutions in online and mobile payments. Currently, the tech startup Cambodian ecosystem remains young, but yet full of enthusiastic and promising resources, and could explode in the next few years as the needs in terms of tech services are growing significantly.
For the record, this is exactly the reason why we decided to launch the Geeks in Cambodia project, as we expect those markets to become a major part of the local economy, and to represent a promising sector in terms of employment as well. By highlighting local initiatives in Tech and Startup, we hope to raise awareness on this current potential, and to take part in this upcoming successful tech growth.