January 27, 2023

Domestic Tourism, Agriculture and SMEs: Economic Drives for Post COVID-19 Crisis

Domestic tourism, agriculture and small and medium sized enterprise (SME) strengthening are the key drives to foster Cambodia’s economy during the post-COVID-19 crisis.
The recommendation was underlined by Cambodia’s economic researcher and the Director of the China Study Centre of the Royal Academy of Cambodia Dr. Ky Sereivath during a round-table discussion organised by the academy here in Phnom Penh yesterday.
It will take a very long time for international tourism to recover from the crisis, so Cambodia has about 11 million national tourists that can boost the industry.
In terms of agriculture, he continued, it needs to be enhanced to support tourism and organic products which will have very potential demands.
For SME promotion, Dr. Ky Sereivath shared that while promoting this backbone sector of Cambodia’s economy, transportation and other cost reduction should be considered to enable the SMEs to expand their export.
The Royal Government of Cambodia recently projected that the country’s economic growth could be -1.9 percent in 2020, but will bounce back to 3.5 percent in 2021.

Source: Agency Kampuchea Press