World Bank: High economic growth in Cambodia is expected to continue

Phnom Penh, May 10, 2018 - The World Bank says in a new report that Cambodia's economic growth remains strong and is projected to accelerate. Slightly up to 6.9 percent in 2018 due to the recovery in textile and garment exports, accompanied by the recovery of tourism and Agriculture, too.

According to the Cambodia Economic Update, which was inaugurated today, rising government spending and global economic conditions are favorable. That includes strong demand in yellow economies, all of which are expected to be fundamental. Support for Cambodia to continue to achieve high economic growth.

However, risks remain, including the gradual loss of export competitiveness due to growth. Rapid increase in workers' salaries, a long-standing accumulation of vulnerabilities in the growth of real estate and construction, uncertainty that can Surrounded by elections, the occasional quake caused by protectionism and escalating tensions in trade disputes between the world's major trading powers.

"In order to maintain strong economic growth, it is important for Cambodia to invest more in education and training," said Ingonado Pracha, World Bank Country Manager for Cambodia.

Training skills and at the same time trying to find solutions to the obstacles that small and medium businesses are facing. "Investing in people is the best option for a more prosperous future."

The report notes that Cambodia can diversify its economic growth and create more jobs through Reduce company costs on process, company formation, operations and financing. The report also recommends that Cambodia closely monitor growth in the sector. Construction and real estate by establishing macro prudent policies that will reduce the scope of profitable activities in these areas.

Tourist arrivals increased by 11.8% in 2017 compared to 5% increase in 2016 due to the results of the efforts of Government authorities to increase flights from the region, including from China, a key market One for tourism. The agricultural sector is also booming, with the expansion of rice and rubber plantations and the gradual recovery of agricultural prices.

Cambodia Economic Update is a bi-annual report that provides the most up-to-date information on Cambodia's macroeconomic situation, both short-term and long-term. In the medium term.

ប្រភពៈThe World bank