Sustaining Cambodia’s Economic Growth by 7% in 2017 and Beyond

Royal Government of Cambodia foresees the country’s economic growth to be around 7 percent in 2017 and is taking necessary actions to address potential bottlenecks to sustain the progress both in the medium and long terms.

Samdech Akka Moha Sena Padei Techo Hun Sen underlined the forecast in his opening keynote address for the 2017 Cambodia Outlook Conference themed Moving up the Value Chain for Industrialisation, Digitisation, Growth and Development, held here at Sofitel Phnom Penh Phokeethra yesterday.

According to Samdech Techo Prime Minister, while the construction and real estate will slow down, the agricultural and garment sectors will see high progress, and non-garment industry will rise as a key pillar to secure the projected economic growth.

The trend, he added, is likely to continue until 2018.

The Cambodian premier called for necessary and urgent actions to cope with potential threats of Cambodia’s economic growth, such as the implications of irregularity of U.S. Central Bank’s interest rate, the departure of the United Kingdom from the European Union so-called Brexit, the decrease of China’s economy.

Other tendencies like the economic slow-down of some developing countries as well as the increasing price of oil and other commodities in the international markets also need to be studied and responded so as to sustain Cambodia’s economic growth in both a medium and long run.

As the leader of Cambodia, Samdech Techo Prime Minister reiterated his commitment to maintain the country’s peace and stability as it is the first and foremost cornerstone of Cambodia’s economic performance.

Source: Agency Kampuchea Press