Young Cambodia - A Fertile Ground for Innovation
According to Harvard Business School professor and innovation guru Clayton Christensen, much of the demand can be filled by "market-creating innovation", which drives the development of related industries and infrastructure. Most Southeast Asian countries, including Cambodia, still have the following characteristics that are expected to drive significant and rapid growth in market demand:
- Financial markets are still developing.
- A large population of young people uses mobile phones.
- The economy is in a period of accelerated growth.
- There is still a huge shortfall in healthcare and other livelihood needs.
- The country has a flexible regulatory system.
- The currency value is stable and the interest rate spread is large.
Unlocking the Potential: Embracing Cambodia's Advantage as a Developing Countries
A developing country's advantage embodies the unique opportunity that arises for a nation in its journey toward economic progress.
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Countries in earlier stages of development often possess the advantage of abundant, cost-effective labor and have utilized fewer natural resources due to their status.
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These advantages in labor and resources can significantly propel economic growth, especially when coupled with access to substantial capital influx from more rapidly advancing nations.
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Through the strategic importation of technology and equipment from more developed counterparts, and by leveraging their successful practices, latecomer nations can accelerate their developmental trajectory. This approach enables them to sidestep the pitfalls encountered by others and expedite their progress.
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By embracing this model, technology adopters can bridge the gap with technological innovators, fostering mutual advancement.