7 Best Developing Countries for Business migration

Among the 195 countries in the world, 46 are classified as Least Developed Countries (LDCs). These nations are primarily located in Africa, Asia, the Pacific, and the Caribbean. When it comes to business opportunities, some underdeveloped countries offer better conditions for entrepreneurs than others. Below are some of the most promising destinations for business based on general observations:

 

1. Ethiopia (Africa)

When it comes to expanding or relocating a business, Ethiopia is not always the first name that comes to mind—but it should be. This East African powerhouse is rapidly emerging as a top destination for entrepreneurs and investors looking for high growth potential, cost-effective operations, and a market with untapped opportunities. The key reasons for migrating business in Ethiopia are given below:

 

i. Rapid Economic Growth

Ethiopia is one of Africa’s fastest-growing economies, consistently achieving GDP growth exceeding 6-8% annually. The government is also pushing for economic liberalization, opening more sectors to private investors.

 

ii. Large and Young Workforce

With a population of over 120 million, Ethiopia is the second most populous country in Africa. More importantly, its young workforce provides businesses with a strong labor supply at a lower cost compared to developed nations.

 

iii. Untapped Market Potential

Many underdeveloped industries, such as agriculture, manufacturing, technology, healthcare, and real estate, offer vast opportunities for entrepreneurs to introduce innovative solutions with minimal competition.

 

iv. Government Support and Incentives

The Ethiopian government actively encourages foreign investment through tax incentives, import duty exemptions, and investment-friendly policies. Special Economic Zones (SEZs) and industrial parks also provide infrastructure for manufacturing and export businesses.

 

v. Strategic Location in Africa

Ethiopia’s capital, Addis Ababa, is home to the African Union headquarters and serves as a major international trade hub. Its location provides easy access to both African and Middle Eastern markets, making it an ideal base for regional expansion.

Relocating a business is never an easy decision, but choosing the right destination can set you up for long-term success. If you’re looking for a market that’s growing fast and still full of untapped potential, Ethiopia might just be the best move you’ll ever make.

 

 

2. Bangladesh (Asia)

With its strategic location, young workforce, business-friendly policies, and thriving industries, Bangladesh offers an ideal environment for businesses to scale and succeed. Key reasons include:

 

i. One of the Fastest-Growing Economies

Bangladesh has been experiencing a steady GDP growth of over 6-7% annually, making it one of the fastest-growing economies in Asia. Both the World Bank and IMF projects continued economic expansion across various sectors.

 

ii. Large and Young Workforce

With a population exceeding 170 million, Bangladesh has a huge, young, and cost-effective workforce. This provides a strong labor pool for industries like manufacturing, IT, and services at competitive wages compared to developed nations.

 

iii. Thriving Textile and Garment Industry

Bangladesh is the 2nd largest exporter of ready-made garments (RMG) in the world, after China. The low production cost, skilled workforce, and strong global demand make it an ideal destination for businesses in textiles, apparel, and fashion. Additionally, numerous sub-sectors are flourishing, creating even greater business opportunities.

 

iv. Government Support and Investment Incentives

The Bangladeshi government has introduced investment-friendly policies, tax incentives, and special economic zones (SEZs) to attract foreign entrepreneurs. 100% foreign ownership is allowed in most sectors, and new businesses in key industries enjoy tax holidays.

 

v. Strategic Location for Trade

Bangladesh is located between India, China, and Southeast Asia, providing easy access to global markets. Its proximity to major ports and trade routes makes it an excellent hub for import-export businesses.

 

vi. Booming Digital and IT Sector

The tech and startup ecosystem in Bangladesh is rapidly growing, supported by government initiatives like “Digital Bangladesh.” Sectors such as e-commerce, fintech, and software development offer excellent business opportunities with high growth potential.

 

vii. Expanding Infrastructure

Massive investments in transportation, energy, and industrial zones are making it easier to do business. Major projects like Padma Bridge, Dhaka Metro Rail, and new expressways are significantly improving connectivity and logistics.

 

viii. Growing Middle-Class Consumer Market

With rising incomes and urbanization, Bangladesh has a fast-growing middle class with increasing purchasing power. This creates high demand for consumer goods, real estate, healthcare, education, and financial services.

Bangladesh is one of the most populated countries -8th most populous – with huge consumer and workforce markets. So, if you click any products that might click to your business. So, one can untapped the opportunity with the growing economy.

 

 

3. Rwanda (Africa)

Rwanda has emerged as one of Africa’s best destinations for entrepreneurs, thanks to its business-friendly environment, political stability, and rapid economic growth. Below are the key factors:

 

i. Business-Friendly Environment

The World Bank’s Ease of Doing Business Index ranks Rwanda as one of the easiest places to do business in Africa. The government has streamlined business registration, allowing companies to be set up within six hours online—one of the fastest processes in the world!

 

ii. Political Stability and Low Corruption

Unlike many African nations, Rwanda has a stable government with a strong commitment to economic development. It also has one of the lowest corruption rates in Africa, making it easier for businesses to operate transparently without bureaucratic obstacles.

 

iii. Rapid Economic Growth

Rwanda’s economy has been growing at an impressive rate of 7-8% annually. The government is actively investing in key industries like agriculture, tourism, technology, and finance, creating vast opportunities for entrepreneurs.

 

iv. Strategic Location and Access to Markets

Rwanda is centrally located in East Africa, providing easy access to major markets in Kenya, Uganda, Tanzania, and the Democratic Republic of Congo (DRC). It is part of the East African Community (EAC), which offers a duty-free market of over 300 million consumers.

 

v. Thriving Tech and Innovation Hub

Often called the “Silicon Valley of Africa,” Rwanda has heavily invested in technology and innovation. The government’s “Smart Rwanda” initiative supports digital businesses, fintech startups, and tech-driven solutions, making it a great destination for IT entrepreneurs.

 

vi. Growing Tourism and Hospitality Sector

Tourism is a key industry in Rwanda, driven by attractions like Kigali’s vibrant city life, Volcanoes National Park (home to mountain gorillas), and Lake Kivu. Investment in hotels, eco-tourism, and travel services is booming.

 

vii. Strong Infrastructure Development

Rwanda has invested heavily in roads, airports, and internet connectivity. The capital, Kigali, is one of the cleanest and most organized cities in Africa, with reliable electricity and fast internet, making it an ideal place to run a business.

 

viii. An affordable and Skilled Workforce

Rwanda has a young, educated, and cost-effective workforce, making it easier for businesses to find and train employees. The government has also partnered with international organizations to improve education and vocational training.

 

 

4. Cambodia (Asia)

If you’re an entrepreneur looking for an affordable, fast-growing, and opportunity-rich country to start a business, Cambodia should be at the top of your list. This Southeast Asian nation is quietly becoming one of the best places for investment.

 

i. Fast-Growing Economy with High Potential

Cambodia’s economy has been expanding steadily, with GDP growth of around 6-7% annually. Key industries driving this growth include manufacturing, real estate, tourism, and technology.

 

ii. Business-Friendly Policies & Foreign Ownership

Cambodia is incredibly welcoming to investors. Foreigners can own 100% of a business, except for land ownership, which can easily be worked around through long-term leases. The government offers low tax rates, investment incentives, and minimal red tape, making the process of setting up a business fast and hassle-free.

 

iii. Low Costs, High Profits

One of Cambodia’s biggest advantages is its low cost of doing business. Rent, wages, and operational costs are much lower than in developed countries or even in neighboring Thailand and Vietnam. This means you can start and scale a business with a smaller investment while enjoying higher profit margins.

 

iv. Young and Affordable Workforce

Cambodia has a young and fast-growing population, with a median age of around 26. This provides a large pool of energetic and trainable workers at lower wages compared to many other countries in Asia. Whether you need staff for a factory, a restaurant, or a tech startup, finding motivated employees is easy and affordable.

 

v. Strategic Location & Trade Access

Cambodia is part of the ASEAN Economic Community (AEC), providing duty-free trade with other ASEAN nations and connections to global supply chains. Entrepreneurs looking to import, export, or distribute products across Asia will find Cambodia to be an ideal base.

 

vi. Booming Tourism Industry

If you’re looking to start a business in tourism or hospitality, Cambodia offers a steady flow of customers. Attractions like Angkor Wat attract millions of tourists every year, creating huge opportunities in hospitality, food & beverage, travel services, and the entertainment industry.

 

vii. Tax Benefits & Investment Incentives

The Cambodian government offers tax holidays, duty-free imports on production equipment, and special economic zones (SEZs) to encourage investment. Whether you’re in manufacturing, agriculture, or IT, multiple incentives can help lower your startup costs and increase profitability.

 

viii. Simple Business Setup Process

Unlike in many other countries where bureaucracy slows down business registration, in Cambodia, you can legally start a business in just a few weeks. The paperwork is straightforward, and the government has made efforts to simplify processes for both local and foreign investors.

 

ix. A Chance to Make an Impact

Starting a business in Cambodia isn’t just about making money—it’s also about being part of a transforming economy. Many sectors are still developing, which means businesses can bring real change by introducing new ideas, creating jobs, and improving industries. Whether you’re in education, healthcare, or sustainable business, your impact can be significant.

Cambodia is one of the most exciting and overlooked business destinations in Asia. Whether you’re launching a tech startup, a hospitality business, a manufacturing venture, or an import-export company, Cambodia offers the perfect mix of opportunity, affordability, and growth potential.

 

 

5. Uganda (Africa)

Uganda is a country you can’t afford to overlook. Often called the “Pearl of Africa,” Uganda is not just rich in natural beauty—it’s also a land of opportunities for business-minded individuals. With a rapidly growing economy, a youthful workforce, and strong government support for entrepreneurs, Uganda offers a perfect blend of affordability, market potential, and long-term success.

 

i. Fast-Growing Economy with Huge Potential

Uganda has been experiencing steady GDP growth, averaging 5-7% annually. Key sectors include agriculture, technology, real estate, and manufacturing. Uganda offers businesses the chance to dominate industries with less competition.

 

ii. Large, Young, and Affordable Workforce

Uganda has a population of over 45 million, with a median age of just 16—one of the youngest workforces in the world. This means a growing consumer base and an eager labor market that is affordable compared to developed countries. If you’re starting a tech company, a manufacturing plant, or a service-based business, finding trainable and motivated employees is easy.

 

iii. Business-Friendly Policies & Investment Incentives

Uganda welcomes entrepreneurs with open arms. Some businesses qualify for tax breaks of up to 10 years, and there are low import duties on essential equipment. Additionally, foreigners can own 100% of their businesses, making it easy to start and scale operations.

 

iv. Abundant Natural Resources & Agriculture Potential

Uganda has vast fertile land, a favorable climate, and plenty of water resources, making it ideal for agriculture and agribusiness. With over 80% of the population engaged in farming, there is massive potential in food processing, organic farming, and export-oriented agribusiness. If you’re looking for a country where agriculture can yield high profits, Uganda is a perfect choice.

 

v. Strategic Location & Access to Regional Markets

Uganda is landlocked but positioned at the heart of East Africa. It shares borders with Kenya, Tanzania, Rwanda, South Sudan, and the Democratic Republic of Congo (DRC), giving businesses access to a regional market of over 300 million people. As a member of the East African Community (EAC), Uganda enjoys duty-free trade agreements, making it an ideal base for regional expansion.

 

vi. Growing Middle Class & Consumer Market

Businesses in retail, real estate, education, healthcare, and entertainment have enormous potential as more Ugandans seek better lifestyles. Whether you’re selling consumer goods or offering professional services, there is a hungry market ready to be served.

 

vii. Booming Tourism & Hospitality Sector

Tourism is one of Uganda’s biggest industries, attracting visitors with its stunning national parks, rare wildlife, and adventure tourism (including the famous mountain gorillas). The tourism sector offers amazing opportunities in hotels, travel agencies, eco-tourism, and hospitality services. Entrepreneurs who tap into this industry can benefit from a steady stream of international visitors.

 

viii. Fast-Growing Technology & Innovation Scene

If you’re in the tech industry, this is the right time to enter Uganda’s growing digital economy. Government-backed initiatives like Vision 2040″ are fueling innovation, making Uganda an exciting place for startups in fintech, agritech, and mobile solutions.

 

ix. Low Cost of Doing Business

Compared to other countries, Uganda offers affordable startup costs. Office space, wages, utilities, and operational expenses are significantly lower than in developed markets, allowing businesses to run with higher profit margins.

 

x. Opportunity to Create a Real Impact

Starting a business in Uganda isn’t just about profits—it’s about making a real difference. Entrepreneurs have the chance to create jobs, uplift communities, and bring innovative solutions to sectors that need them the most. Whether it’s in education, healthcare, sustainable energy, or financial services, your business can change lives while generating revenue.

Uganda provides the perfect environment for ambitious entrepreneurs. If you’re looking for a market that’s full of potential but not overcrowded, Uganda is the place to be.

 

 

 

6. Nepal (Asia)

Nepal is often known for its Himalayan beauty and Mount Everest. Besides that, Nepal also presents significant business potential, offering low competition, a young workforce, and a growing consumer base. This makes Nepal an excellent place to start and scale a business. The key reasons for selecting Nepal as a business destination are as follows:

 

i. Untapped Potential

Nepal offers low competition in many industries, giving entrepreneurs the chance to dominate their sectors. With urbanization and a growing middle class, the demand for new businesses is increasing rapidly.

 

ii. Low Cost of Doing Business

One of Nepal’s biggest advantages is its affordable business environment. Compared to many other Asian countries, the costs of rent, labor, and operations are significantly lower. Whether you’re starting a hospitality business, a manufacturing unit, or a tech startup, you can minimize expenses while maximizing profits.

 

iii. Strategic Location for Trade and Business Expansion

Nepal is strategically located between two of the world’s largest economies—India and China—providing businesses access to a massive market of over 2.7 billion people. Nepal also enjoys special trade privileges with India, making it a cost-effective gateway for import-export businesses. Entrepreneurs can establish manufacturing or distribution hubs in Nepal and expand into these huge markets.

 

iv. Government Support & Investment Incentives

Foreigners can own 100% of businesses in most sectors, and new policies are making it easier for startups and investors to establish companies.

 

v. Young and Affordable Workforce

With a median age of around 25 years, Nepal has a young, trainable, and cost-effective workforce. Whether you need skilled IT professionals, factory workers, or service industry employees, Nepal provides an eager labor market at competitive wages.

 

vi. Booming Tourism & Hospitality Sector

Tourism is one of Nepal’s biggest industries, attracting millions of visitors each year for trekking, adventure sports, cultural tourism, and spiritual retreats. Entrepreneurs can explore excellent opportunities in hotels, restaurants, eco-tourism, travel agencies, and wellness tourism. The potential for sustainable and experience-based tourism is immense.

 

vii. Renewable Energy & Hydropower Potential

Nepal has abundant water resources, making it one of the best places for hydropower investment. The government is focusing on clean energy projects, and entrepreneurs in renewable energy, electric transportation, and green businesses can find amazing opportunities.

Nepal is one of the most promising yet underrated business destinations in Asia. With low costs, a strategic location, a young workforce, and government support, it is an ideal place for ambitious entrepreneurs.

 

 

7. Laos (Asia)

If you are looking for a unique and promising location to implement business ideas, Laos could be a hidden gem. This country is often overlooked in favor of its larger neighbors, but it offers a profitable and sustainable business environment. The key reasons to consider Laos are as follows:

 

i. A Fast-Growing Economy with Room to Expand

Laos has been one of the fastest-growing economies in Southeast Asia, consistently achieving GDP growth of around 6-7% per year. It offers room for businesses to scale without intense competition.

 

ii. Low Cost of Doing Business

One of the biggest advantages of Laos is its affordability. Land, labor, and operational expenses are much lower than in neighboring Thailand or Vietnam. This makes Laos an excellent place for businesses to maximize profits with minimal investment. Entrepreneurs looking to start small and scale quickly will find Laos a cost-effective and profitable destination.

 

iii. Strategic Location & Trade Benefits

Laos sits at the heart of Southeast Asia, sharing borders with China, Thailand, Vietnam, Cambodia, and Myanmar. Although landlocked, Laos has focused on improving its transportation networks, including the China- Laos railway, which connects businesses to China’s massive market. Being part of ASEAN (Association of Southeast Asian Nations) also provides Laos with duty-free trade access to other ASEAN countries, making it an ideal hub for import-export businesses.

 

iv. Business-Friendly Policies & Foreign Investment Support

Foreigners can own 100% of businesses in most sectors, and industries such as manufacturing, agriculture, and renewable energy receive extra government support. Laos is a country that welcomes new businesses with open arms.

 

v. Young, Affordable, and Trainable Workforce

With a median age of around 24 years, Laos has a young, eager, and cost-effective workforce. Wages are lower than in Thailand and Vietnam, making Laos an attractive destination for labor-intensive industries such as manufacturing, textiles, agriculture, and services.

 

vi. Untapped Consumer Market with Rising Demand

Laos is experiencing a rise in disposable income and consumer spending, particularly in urban areas like Vientiane, Luang Prabang, and Pakse. With a growing middle class, there is increasing demand for modern retail, healthcare, education, and digital services. Businesses that cater to new consumer habits and preferences can establish a strong customer base before the competition intensifies.

 

vii. Booming Tourism & Hospitality Industry

Tourism is one of the fastest-growing sectors in Laos, thanks to its rich culture, stunning landscapes, and eco-tourism appeal. Cities like Luang Prabang and Vang Vieng attract tourists from around the world, creating significant opportunities in hospitality, travel services, eco-tourism, and food & beverage businesses. If you are looking to invest in the hospitality industry, Laos is an exciting place to start.

 

viii. Abundant Natural Resources & Green Energy Potential

Laos is often called the “Battery of Southeast Asia” due to its rich hydropower resources. With an increasing focus on renewable energy, eco-friendly businesses, and sustainable agriculture, there are significant opportunities for entrepreneurs in clean energy, agribusiness, and environmentally friendly solutions. If sustainability is part of your business model, Laos provides a perfect landscape for green innovation.

 

ix. The Chance to Build Something Meaningful

Beyond profits, doing business in Laos allows you to make a real difference. Many industries—such as education, healthcare, and technology—are still in their early stages and need innovation and investment. Entrepreneurs who bring new ideas, create jobs, and support local communities can make a lasting impact while running a successful business.

Laos is one of the best-kept secrets for entrepreneurs looking for affordable startup costs, a welcoming business environment, and a high-growth market. Whether you’re interested in manufacturing, tourism, tech startups, or agriculture, Laos provides a unique mix of opportunity and stability.