Bangkok (FN), May 28 -As a part of its strategic expansion in the emerging Southeast Asia markets, CEVA Logistics has opened its own office in the Cambodian capital, Phnom Penh.
CEVA has already been operational in Cambodia for six years through a network partner, providing freight management services to a number of multinational and local customers.
Effective 27 May, CEVA Logistics is directly present in the country with the opening of its own facility, offering a complete array of globally standardized services in multi modal, land transport, sea-air and EPZ / CFS facilities. CEVA has assumed responsibility for all its network operations and financial services, billings and intercompany settlements there with improved control over the company’s business and expansion of product propositions designed to increase market share.
CEVA’s operations in the emerging Southeast Asia markets span four countries, including Cambodia, Bangladesh, Myanmar and Laos. Rapidly emerging countries present considerable potential with accelerated market growth. The low production costs and abundant manpower, combined with the further trade liberalization, make these attractive for Foreign Direct Investment (FDI) and manufacturing. In particular, Cambodia FDI increased by 14% in 2018 Year-in-Year.
Cambodia has two major sea ports and three international airports, with the 4-th airport project planned in 2019. There is rapid development in the garment and footwear sector (accounting for 70% of exports) as well as tourism, telecommunications and developing verticals like assembly and electronic manufacturing, strongly driven by relocation of sourcing and factories from China.
“Cambodia is a country with vast opportunities for growth. And with our longstanding regional expertise and newly opened office, CEVA is well positioned to provide robust logistics solutions that will facilitate rapid business development for our clients and contribute to the development of the logistics sector in the country,” says Russell Pang – Managing Director, Emerging Markets, – CEVA Logistics South East Asia Cluster.