World

Cambodia announces 17-point strategy to promote economic growth

Cambodian Prime Minister Hun Sen has announced plans to reform the nation’s economy on a large scale with a 17-point strategy, aiming to stimulate growth and save the private sector some 400 million USD per year in costs.
Cambodia announces 17-point strategy to promote economic growth ảnh 1Prime Minister Hun Sen speaks at the 18th Government-Private Sector Forum on March 29 (Source: phnompenhpost.com)

Hanoi (VNA) – Cambodian PrimeMinister Hun Sen has announced plans to reform the nation’s economy on a largescale with a 17-point strategy, aiming to stimulate growth and save the privatesector some 400 million USD per year in costs.

The strategy includes a series of savings initiatives for private businesses,including cutting costs related to transport, port services, and electricity,as well as reforming railway management.

It sets out plans to cut the number of national holidays, introduce financialincentives for tax and customs sectors, as well as promote and implementamendments to the Law on Investment and the Law on Special Economic Zones.

Speaking at a recent forum on the public-privatesector, PM Hun Sen said that these reforms would help increase the competitivenessof export goods if the European Union (EU) decides to remove its preferential trade arrangements under the EverythingBut Arms (EBA) scheme.

InFebruary 2019, the EU officially announced it will begin the process ofconsidering the withdrawal of Cambodia from the EBA scheme on the grounds thatCambodia had violated its conditions. This process will take place over thenext 12 months.

This causes great concern to businessesoperating in Cambodia, especially in the textile sector, which is said to bringabout 676 million USD per year to Cambodia.

Concerning the current serious power shortage in Cambodia, PM Hun Sen announcedplans to split various types of electricity prices for users, thereby reducingabout 0.02 USD per kWh for industries that hold high investment value.

Meanwhile, Vice Chairman of the CambodiaChamber of Commerce and Industry Lim Heng said that for a long time, the Cambodianprivate sector has asked its government to issue the aforementioned reforms tohelp reduce production costs.

He affirmed that these efforts of the Cambodian government to reform the economywill contribute to strengthening the private sector, especially in terms of increasingincomes for workers.–VNA  
VNA
#Cambodian Prime Minister Hun Sen #17-point strategy #economic growth #Cambodia #private sector #railway management #EBA #Vietnamplus #Vietnam News #Vietnam News Agency Cambodia
Follow VietnamPlus

Related News

Cambodia acts in response to EU's lifting of preferential treatment

Cambodia acts in response to EU's lifting of preferential treatment

Cambodian Prime Minister Hun Sen on March 29 announced a number of measures to boost economic independence and support local exporters, given the possible lifting of the European Union (EU)'s preferential trade arrangement under the Everything But Arms (EBA) scheme.

See more

Two children play with a gadget in Jakarta. (Photo: ANTARA)

Indonesia sets age limits on digital platforms to protect children

Minister of Communication and Digital Affairs Meutya Hafid said Government Regulation No. 17 of 2025 on Electronic System Governance for Child Protection, known as PP Tunas, will delay access to high‑risk platforms until age 16, while lower‑risk services will be available from age 13.

Indonesia looks to expand engineering workforce amid AI push

Indonesia looks to expand engineering workforce amid AI push

President of the Institution of Engineers, Indonesia (PII) Ilham Akbar Habibie said the number of engineers per one million people in Indonesia remains low. The country currently has about 2,500 engineers per one million people, compared with around 9,500 in Vietnam – nearly four times higher. He described Vietnam as a typical example of how a nation can rely on engineering to strengthen its economy and drive robust economic growth.

Singapore invests to strengthen food self-reliance

Singapore invests to strengthen food self-reliance

Singapore plans to pump 70 million SGD (55 million USD) over the next five years to help local farms expand production capacity and build capabilities, as the country steps up efforts to strengthen food resilience amid growing global uncertainties.

Thailand announces referendum results on constitutional amendment (Photo: eastasiaforum.org)

Thailand announces results of constitutional amendment referendum

Official results released by the EC and signed by EC Chairman Narong Klanwarin show that a majority of Thai voters (58.64%) supported the amendment of the current Constitution. Meanwhile, 30.46% voted against, 8.34% cast blank ballots, and 2.56% of the votes were invalid.

Illustrative photo: Internet

Guangxi strengthens ASEAN – China trade connectivity

China has remained ASEAN’s largest trading partner for 17 consecutive years, while ASEAN has held the position as China’s top trading partner for the past six years. Guangxi, the only Chinese region linked to ASEAN by both land and sea, plays a strategic role in connecting the two markets.

Malaysian Minister of Investment, Trade and Industry Johari Abdul Ghani (Photo: Bernama)

Malaysia boosts exports to CPTPP member countries

Through the CPTPP, exporters can access non-traditional markets such as Canada, Mexico and Peru and, for the first time, gain preferential access to the UK market, which had previously been subject to regular tariffs, said a Malaysian official.

Young Lao ethnic women splash water to pray for good fortune during the traditional water-splashing New Year festival. (Photo: VNA)

Laos accelerates UNESCO nominations for cultural heritage

The Lao government will seek inscription of several traditions on the UNESCO Intangible Cultural Heritage of Humanity list, including Larb, the Sou Khuan ceremony, Pu Yer – Ya Yer, Lao New Year (Bun Pi Mai Lao), and Khao Tom–Khao Lam. It will also pursue World Heritage status for Nakai-Nam Theun National Park, the Plain of Jars in Houaphanh Province, and That Ing Hang.

Vietnam attends Cambodia–ASEAN Business Summit 2026

Vietnam attends Cambodia–ASEAN Business Summit 2026

Themed “Transforming ASEAN Transformation: Innovation, Integration and Industrial Evolution,” the event aimed to promote economic growth, deepen regional integration, and advance sustainable development in Cambodia and across ASEAN, underscoring the bloc’s strong commitment to innovation-driven growth and fostering regional competitiveness.

Malaysia's National Scam Response Centre (NSRC) at Menara 2 MCMC, Cyberjaya. (Photo: Straits Times)

Malaysia steps up fight against online financial scams

Since its establishment, the National Scam Response Centre of Malaysia has prevented more than 34.05 million MYR (8.5 million USD) from falling into the hands of scam syndicates. The amount returned to victims rose significantly from 508,479 MYR in 2024 to 6.65 million MYR in 2025.

Singapore prioritises climate change response initiatives

Singapore prioritises climate change response initiatives

In an increasingly volatile world, a Singaporean official stressed the need to prioritise building a climate-ready Singapore now, and prepare infrastructure, businesses and people today to be resilient in a climate-impaired future.

Philippine President Ferdinand R. Marcos Jr. (right) and RoK President Lee Jae Myung at their joint press conference in Manila (Photo: Yonhap/VNA)

Philippines, RoK pledge to maximise bilateral FTA advantages

The Philippines and the Republic of Korea acknowledged ongoing efforts to advance bilateral trade and investment, while expressing their shared determination to fully realise the potential of the Philippines–RoK Free Trade Agreement for the benefit of their people.

Illustrative photo (Photo: 123RF)

Thailand records over 7,300 fraud complaints in one week

Assistant national police chief Pol Lt Gen Jirabhop Bhuridej who is also ACSC deputy director, said that the centre’s online reporting system logged 7,344 complaints between February 22 and 28, up 611 cases compared to the previous week. Total financial damage during the period amounted to 440.7 million THB.

Singapore: Workers can be "bilingual" in AI and their own areas of expertise to solve problems in their domains., said Minister for Digital Development and Information Josephine Teo. (Photo: straitstimes.com)

Singapore to train 100,000 AI-savvy workers by 2029

This ambition will be realised through the new National AI Impact Programme (NAIIP), which aims to train some 100,000 workers to be AI-savvy by 2029. Over the next three years, about 10,000 enterprises will also be equipped with AI capabilities.

Two Indonesian oil tankers stranded in Persian Gulf

Two Indonesian oil tankers stranded in Persian Gulf

PT Pertamina International Shipping (PIS) currently has four vessels operating in the Middle East region. Of these, two vessels – Pertamina Pride and Gamsunoro – remain in the gulf. The other two have been relocated to relatively safer positions.

Sounthone Xayachak, Secretary of the Lao People’s Revolutionary Party (LPRP) Central Committee, Vice President of the National Assembly of Laos (Photo: VNA)

Laos announces results of 10th National Assembly election

Speaking at the press briefing, Sounthone Xayachak, Secretary of the Lao People’s Revolutionary Party (LPRP) Central Committee, Vice President of the National Assembly of Laos said that a total of 175 candidates were elected as deputies to the 10th National Assembly across 18 constituencies nationwide. Among them, 52 are women, accounting for 29.71% of the total number of deputies.