The service sector has become a cornerstone of Cambodia’s economy, contributing nearly 40% of the country’s GDP and driving growth through a blend of innovation, infrastructure, and expertise. From corporate insurance and legal services to journalism and financial accounting, Cambodia is positioning itself as an investment-friendly hub with world-class offerings.
Key players such as AIA Cambodia, ANANT Law Firm, Khmer Times, and Blue Chartered Accountants and Auditors exemplify this dynamism, while other contributors like Forte Life Assurance and Visa enhance the nation’s connectivity and competitive edge. Together, these organizations are not only building a robust business ecosystem but also paving the way for international collaboration and investment.
Revolutionizing Corporate Insurance
As Cambodia’s leading life and health insurer, AIA Cambodia is setting new standards for corporate insurance solutions. Leveraging over 100 years of global expertise from its parent company, the AIA Group, AIA Cambodia tailors its offerings to meet the evolving needs of employers and employees across the Kingdom.
The company’s flagship programs include WorkWell with AIA, AIA MedCare, AIA ComCare, and AIA AccidentCare, all of which provide comprehensive, customizable coverage. WorkWell with AIA, for instance, focuses on physical, mental, financial, and social wellness through its four pillars: Live Well, Think Well, Plan Well, and Feel Well. These initiatives empower employers to create healthier, more productive work environments.
For medical protection, AIA MedCare offers extensive benefits, including reimbursements for hospitalization, surgeries, outpatient care, and maternity needs. It also facilitates cashless transactions at over 168 partner hospitals in Cambodia and abroad, simplifying access to healthcare for employees. The accompanying online medical portal streamlines claims, member listings, and policy administration, ensuring hassle-free management for HR departments.
AIA Cambodia’s focus on digital innovation is evident in tools like the AIA+ app, which allows users to submit claims, update personal information, and access customer service with ease. This aligns with the company’s customer-centric commitment to “deliver first-class customer experience with clarity, courage, and humanity—first time, every time.”
Under the leadership of CEO Jane Tay, AIA Cambodia is expanding its corporate offerings to companies of all sizes, reinforcing the country’s reputation as a business-friendly destination. Secondary players like Forte Life Assurance complement this vision, holding a 60% market share in Cambodia’s life insurance market. “The private sector is driving transformative change in Cambodia’s economy,” says Prou Sythan, Forte’s CEO.
Navigating Legal Frameworks
In a rapidly evolving regulatory landscape, ANANT Law Firm plays a crucial role in guiding businesses through Cambodia’s legal and compliance requirements. With a team of over 40 professionals and nearly two decades of experience, the firm specializes in market entry strategies, mergers and acquisitions, tax advisory, and compliance services.
“Cambodia’s regulatory framework is growing more complex as the economy matures, and our role is to help businesses navigate these changes effectively,” says Managing Partner Sophealeak Ing. Beyond legal advisement, ANANT Law Firm acts as a strategic partner, anticipating regulatory shifts and aligning client strategies accordingly.
The firm’s commitment to bridging local and international standards ensures that businesses can operate confidently in Cambodia’s market. This is especially important for foreign investors, who often face challenges in understanding local laws and requirements.
ANANT’s efforts align with broader initiatives like those spearheaded by EuroCham, which promotes European investment in Cambodia. “Cambodia offers a vibrant market with significant opportunities for diversification,” says Martin Brisson, Executive Director of EuroCham. Such partnerships are integral to creating a business environment that fosters growth and sustainability.
Amplifying Cambodia’s Voice
As one of Cambodia’s leading English-language publications, The Khmer Times plays a vital role in shaping perceptions of the country among investors and the global community. Founded in 2014, the newspaper has grown significantly, printing 10,000 copies daily and attracting 4-5 million monthly page views through its robust digital platform.
Khmer Times made its mark during the pandemic with detailed COVID-19 updates, including maps and statistics that kept the public informed. This commitment to factual and impactful reporting extends to its broader mission of showcasing Cambodia’s potential. “We aim to show the world Cambodia’s opportunities through accurate, impactful reporting,” says Founder and Managing Editor Mohan Bandam.
The publication is also expanding its offerings, with plans to relaunch business-focused content and partner with telecommunications companies to deliver audio news. These initiatives position Khmer Times as a crucial resource for investors and a driver of transparency and information flow in the country.
Education also plays a critical role in Cambodia’s development, with organizations like the Westline Education Group working to build human capital. “Investing in education empowers individuals and fuels national growth,” says CEO Pech Bolen. Together, journalism and education are amplifying Cambodia’s voice on the global stage.
Bridging Local and Global Standards
Established in 2019, Blue Chartered Accountants and Auditors has quickly become a trusted partner for businesses in Cambodia. With a team of 40 professionals serving over 200 clients, the firm offers audit, tax, and outsourced accounting services tailored to the needs of diverse industries.
Blue Chartered combines international best practices with local expertise, helping businesses navigate Cambodia’s regulatory environment with confidence. “Cambodia’s strategic location and improving corporate governance make it a compelling investment destination,” notes Sinra Kong, Partner in Audit and Assurance.
These efforts position Blue Chartered as an essential ally for foreign investors, particularly those new to Cambodia. Other firms like Baker Tilly also contribute to the sector’s growth, with a focus on leveraging technology to enhance governance. “We’ve witnessed Cambodia’s accounting profession evolve from its infancy to a globally competitive industry,” says Managing Partner Tan Khee Meng.
An Invitation to Investors
Cambodia’s service sector is a reflection of the nation’s growing sophistication and readiness to engage with global markets. With liberal investment policies, including 100% foreign ownership in most sectors, Cambodia offers a dynamic and growth-oriented environment for businesses.
From AIA Cambodia’s transformative insurance solutions to Khmer Times’ influential journalism, and from ANANT Law Firm’s regulatory expertise to Blue Chartered Accountants and Auditors’s financial services, the service sector exemplifies the country’s potential as a hub for innovation and investment. For investors seeking a promising market, Cambodia offers unparalleled opportunities to succeed and contribute to its remarkable journey toward prosperity.