Luxury car maker Rolls-Royce announced Monday, its entry in to Cambodia, one of the poorest countries in the world.

The company joined hands with HGB Group Co. Ltd., to open its first showroom in capital Phnom Penh, next month.

According to the World Bank figures, the average per capita annual income in the country is little more than $1,000; less than 0.5 percent of the price of a basic Roll-Royce, reports the Associated Press.

However, officials justify launching the English luxury car with the price tag of $450,000 that is around 175 times the country's per capita annual income saying that the company decided to enter the market after finding a demand for the car. Paul Harris, Asia Pacific regional director for Rolls-Royce Motor Cars, said certain Cambodians had for years been reaching out to the company and some already own a Rolls-Royce car. "We know there is quite a high interest in Cambodia," he said, reports The Cambodia Daily.

Since 2005, five Rolls-Royces have been sold in Cambodia, Harris said.

"Nobody would believe that such a luxury car would come to Cambodia," said Minister for Industry and Handcrafts, Cham Prasidh.

Prasidh said that given the country's growing economy, the number of middle-and high-income  families is increasing. "I'm very confident that Rolls-Royce cars will have room to grow in Cambodia because the country has many Oknha (tycoons), so they have money to buy them," he said adding that the price of a Y 2014 model Rolls-Royce car is about US$950,000  including taxes in Cambodia, according to the Live Trading News.

Rolls-Royce is the latest join the high-end car manufacturers along with BMW, Audi, Mercedes, Porsche, Land Rover and Jaguar in Cambodia.