(Photo: phnompenhpost.com)
Phnom Penh (VNA) – Cambodia hassucceeded in implementing an effective FDI-led development strategy, achieving7 percent in GDP growth rates accompanied by rapidly falling poverty rate, accordingto the World Bank (WB).
In its latest report “Cambodia’s Future Jobs: Linking to the Economy ofTomorrow”, the bank also warned the country about existing problems.
It said although Cambodia’s current economicmodel is still delivering good new jobs, its success may be slowing down. About80 percent of Cambodians aged 15 or older are working; however, 94 percent ofthe available jobs are in low-skilled occupations while managers andprofessionals account for less than 5 percent of all jobs.
WB Country Manager for Cambodia IngunaDobraja said that the number of jobs in Cambodia grew by an average 12 percenteach year during 2010-2015, a third of which were generated by foreigncompanies.
The report recommends a four-pronged strategy to securing more and better jobsin the future, including diversifying exports into higher value-addedproduction, creating a domestic business environment that supports local firms’growth, strengthening linkages between the domestic and exports sectors, andinvesting in workers’ skills and education.
Besides, it said Cambodia should work moreto ensure macroeconomic stability, and have rational measures to cope with USdollar’s impacts on the domestic economy./.
VNA