UN optimistic about Cambodia's economic future
PHNOM PENH, March 14 (Xinhuanet) -- The United Nations was optimistic that Cambodia could leave the ranks of the poorest countries by 2020, local newspapers reported on Tuesday.
Anwarul Chowdhury, UN under-secretary-general and high representative of Least Developed Countries (LDCs), made the announcement on Monday during his visit to Phnom Penh, which included a meeting with Prime Minister Hun Sen on Saturday.
"There were three factors that had inspired his optimism, namely, the maintenance of peace and stability, the reduction of poverty and a reduction in the prevalence rate of AIDS, which has fallen to 1.9 percent," The Cambodian Press Review quotes Anwarul Chowdhury as saying. However, he also mentioned a concern over growing inequality in the distribution of wealth.
Prime Minister Hun Sen announced on February 16 his goal that Cambodia leave the list of LDCs by 2020.
This ambitious target followed a report by the World Bank stating that absolute poverty had declined from 47 percent to 35 percent between 1993 and 2004.
The UN official mentioned that the careful management of oil and gas reserves in the Gulf of Thailand was a vital step towards achieving the milestone, The Cambodia Daily reported.
Anwarul Chowdhury praised the prime minister's efforts and assured the Cambodian people that the UN would closely cooperate with the country. He also stressed the importance of improving the country's irrigation system to increase agricultural production.
The World Bank report highlighted problems in the agricultural sector, which has seen annual growth of only 3.3 percent over the last decade compared with 4.6 percent in Laos.
Placement among the LDCs is based on three criteria, according to Anwarul Chowdhury. These are an annual per capita GDP of less than 750 U.S. dollars; low levels of health, education and literacy in the country; and economic indicators based on agricultural production and exports. Cambodia's per capita GDP was 320 dollars in 2004, 70 dollars less than in neighboring Laos, according to Cambodian Press Review. Enditem
PHNOM PENH, March 14 (Xinhuanet) -- The United Nations was optimistic that Cambodia could leave the ranks of the poorest countries by 2020, local newspapers reported on Tuesday.
Anwarul Chowdhury, UN under-secretary-general and high representative of Least Developed Countries (LDCs), made the announcement on Monday during his visit to Phnom Penh, which included a meeting with Prime Minister Hun Sen on Saturday.
"There were three factors that had inspired his optimism, namely, the maintenance of peace and stability, the reduction of poverty and a reduction in the prevalence rate of AIDS, which has fallen to 1.9 percent," The Cambodian Press Review quotes Anwarul Chowdhury as saying. However, he also mentioned a concern over growing inequality in the distribution of wealth.
Prime Minister Hun Sen announced on February 16 his goal that Cambodia leave the list of LDCs by 2020.
This ambitious target followed a report by the World Bank stating that absolute poverty had declined from 47 percent to 35 percent between 1993 and 2004.
The UN official mentioned that the careful management of oil and gas reserves in the Gulf of Thailand was a vital step towards achieving the milestone, The Cambodia Daily reported.
Anwarul Chowdhury praised the prime minister's efforts and assured the Cambodian people that the UN would closely cooperate with the country. He also stressed the importance of improving the country's irrigation system to increase agricultural production.
The World Bank report highlighted problems in the agricultural sector, which has seen annual growth of only 3.3 percent over the last decade compared with 4.6 percent in Laos.
Placement among the LDCs is based on three criteria, according to Anwarul Chowdhury. These are an annual per capita GDP of less than 750 U.S. dollars; low levels of health, education and literacy in the country; and economic indicators based on agricultural production and exports. Cambodia's per capita GDP was 320 dollars in 2004, 70 dollars less than in neighboring Laos, according to Cambodian Press Review. Enditem
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