Cambodia’s economy recovering: PM Hun Sen

At the event. (www.cpp.org.kh)

Phnom Penh (VNA) – Cambodia has achieved efficiency in the fight against the COVID-19 pandemic thanks to reasonable and timely measures, such as implementing a national vaccination campaign and building herd immunity across the country, said the country’s Prime Minister Samdech Techo Hun Sen at the opening of the 2022 Cambodia Outlook Conference on October 6.

The application of above-mentioned measures has allowed Cambodia to reopen the country fully and safely in all fields from November 1 until today as the economy is gradually recovering steadily, he said.

The outbreak of COVID-19 in 2020 caused the Cambodian economy to shrink by 3.1% to negative growth for the first time in two decades, but it grew at a positive rate of 3% in 2021. Cambodia’s Ministry of Economy and Finance has forecasted that Cambodia’s economy will likely continue to grow around 5% and 6% in 2022 and 2023, respectively.

The Cambodian leader said that in order to maintain economic growth in the long-term, more investment will be poured in the fields of health, social protection, human resource development, small and medium enterprises, and green development.

To direct the course of socio-economic development in Cambodia, the government has already adopted four phases of the Rectangular Strategy with people as one of the four priorities. Particularly, from the third phase onward, it has identified “people” as the top priority, by focusing on human resource development, job creation and poverty reduction, he said.

The 2022 Cambodia Outlook Conference with the theme "Revitalising Cambodia: Sustaining Development after COVID-19", brings together the country's leading government officials, academics and economic experts. It will focus on finding solutions to the most pressing problems facing Cambodia in the coming years./.