Cambodia PM sees 2007 growth at 9.5 pct
SINGAPORE, Nov 18 (Reuters) - The Cambodian economy is set to grow 9.5 percent in 2007, prime minister Hun Sen said at a business summit in Singapore.
"The preliminary estimation for growth in 2007 will be 9.5 percent while inflation has been kept at a low level," Hun Sen said in a speech.
This is in line with a forecast by the International Monetary Fund, which sees Cambodia's economy growing 7.75 percent next year on the back of healthy agriculture, tourism, construction and garment sectors.
Growth has slowed from 10.8 percent in 2006, 13.5 percent in 2005 and 10.3 percent in 2004, Hun Sen said at the Association of South East Asian Nations (ASEAN) business summit.
ASEAN plans to sign a charter next week in the first step towards free trade and economic integration in Southeast Asia by 2015.
Hun Sen said Cambodia wants growth to be led by the private sector and said the government will ensure a favourable business climate.
Steps taken by the government will include the automation of customs and the creation of special economic zones to facilitate trade and investment.
"Cambodia has endowment and strong potential in agriculture and agro-industry, labour-intensive industry, processing, tourism, mining and some sub-sectors of the manufacturing and the service sectors," he said.
"At the same time, the promising future from the commercialisation of oil, gas and other mineral resources has opened up new economic opportunity and hope for Cambodia."
(Reporting by Geert De Clercq, writing by Kevin Lim, editing by Neil Chatterjee)
"The preliminary estimation for growth in 2007 will be 9.5 percent while inflation has been kept at a low level," Hun Sen said in a speech.
This is in line with a forecast by the International Monetary Fund, which sees Cambodia's economy growing 7.75 percent next year on the back of healthy agriculture, tourism, construction and garment sectors.
Growth has slowed from 10.8 percent in 2006, 13.5 percent in 2005 and 10.3 percent in 2004, Hun Sen said at the Association of South East Asian Nations (ASEAN) business summit.
ASEAN plans to sign a charter next week in the first step towards free trade and economic integration in Southeast Asia by 2015.
Hun Sen said Cambodia wants growth to be led by the private sector and said the government will ensure a favourable business climate.
Steps taken by the government will include the automation of customs and the creation of special economic zones to facilitate trade and investment.
"Cambodia has endowment and strong potential in agriculture and agro-industry, labour-intensive industry, processing, tourism, mining and some sub-sectors of the manufacturing and the service sectors," he said.
"At the same time, the promising future from the commercialisation of oil, gas and other mineral resources has opened up new economic opportunity and hope for Cambodia."
(Reporting by Geert De Clercq, writing by Kevin Lim, editing by Neil Chatterjee)
18 comments:
AH HUN SEN doesn't need to play with number to fool the world!
Any growth in Cambodian economy must reflect dirt poor Cambodian living of standard and so far the economic growth said one thing and the standard of living said another thing!
I wouldn't want to see more economic growth and more Cambodian people become homeless!
Nope, you got it all backward, 2:07. In the US, more people become Homeless. In Cambodia, less people become homeless each year from real Khmer leadership (PM Hun Sen).
Khmer cultural images once destroyed is irreplaceable. The Angkor Wat complexes is an gift and pride for many Khmers. We ought to protect our culture heritage!
What can be done to rid of poverty? There are many ways. But, the Khmer elite became very Capitalistic after the calamity. The poorer/poorest have trampled on because many Khmers have no moral principle anymore.
The first commentor is very critical. And so I like to sign off by saying "Ignorance is degrading only when found in company with riches".
Mr. Spock would say, "it's illogical". Anon: 6:21AM; it's good to see that some commentors just learned how to walk! Your first mistake to put Hun Sen as "Real Leadership". HunSen's head made in Vietnam and the body made in CCP.
Well, we don't care about where PM Hun Sen's were made. We only care about Jobs, jobs, jobs, and he did great. 9.5% growth translated to hundreds of thousands of jobs or relief for poor people this year alone, Yahooooo!!!!
God blesses you, PM Hun Sen!
Job?
What kind of a job when Khmer people can't even afford to pay their children to go school! What kind of a job when Khmer people can't even afford to pay for the basic needs such as clean water, gasoline, electricity, healthcare....
So by having a job to be a slave worker or by having a job to be the working poor? Please Khmer people have sacrifice so much already and now it is the Khmer leaders turn to share the burden!
That is the stupidest question I ever heard of, 7:46. You need to get your head examined. Everyone knows having job is better than no job at all.
To 8:16AM! So you think!
Listen! Khmer people always have jobs since the beginning of time and how else can they build the Khmer empire? So next time when you go to the market or anywhere in Cambodia and you see large and small group of Khmer people doing commerce or labor and this is a form of job creation!
Please don't be fool by the concept that only AH HUN SEN dictator, big corporations or big Companies can create job for Khmer people and as long as Khmer people still hang on this stupid concept of job creation and Cambodia will never become strong and prosperous nation!
7:46AM, you are on the right track. I understood you. However, a person who claimed that ah "chhke" Hun Sen make the economy growth to "9.5% growth translated to hundreds of thousands of jobs or relief for poor people this year alone, Yahooooo!!!!". I definitely agree with you, 8:16AM that the person I quoted ought to have the head examine, or better yet HAVE A LOBOTOMY!
The States I live today--job growth rate is 3.5%. How can Cambodia growth @ 9.5%, when the Fiscal Budgets based on begging? The GDP of Cambodia is incomparable to a smaller company of S&P 500! JUST LAST WEEK SHARP COMPANY, A JAPANESE FIRM, TOOK THEIR FIRM TO MEXICO BUILDING A FLAT PANEL HDTV THAT WORTH 5BILLIONS USD. BECAUSE OF THIS INVESTMENT, MEXICO ADDED MORE JOBS TO THE LOCAL SECTOR.
What is(are) the obstacle for a foreign companies to invest in Cambodia today? HunSen and his cronies CANNOT create jobs, their jobs to make the underserved, underserved!
8:50, if you want to know how can we grow at 9.5%, you have to ask World Bank because that is what they are telling PM Hun Sen and he's just passing the information down to us.
However, of you want to know how many jobs the 9.5% growth have created in Cambodia, you have to go to school and learn some basic math. And when you done with the course, you will know the 9.5% will created hundreds thousands of jobs in Cambodia, but fewer jobs (perhaps tens thousands) in Europe, US, or AU, because people get pay differently in different area of the world. Get it?
It is laughable that the government proud with the ecomics growth 9.5%. This giures is for HUN XEN's family and his partisans only, not for all Cambodian.
You know recently people ate the pigs's food or junk food at Kg-Speu province. Is this ecomin growth? Mr. HUN XEN?
Hey, 9.5% growth is not 100% growth, alright. It can't possibly help everyone. And if you can do better, then tell us what will the growth be under your administration, and what are your plan ...? Otherwise, just shut the fuck up, will ya?
The blind tot living in Cambodia well ,has never learned how wide the sky out side of Cambodia ,they all way think they are the best,differences from Thai .vietnam ,Malay,singapore Philippine etc. they like to get the knowledge of West to combine with their own and at the end when they are getting sick they are just search to go to take care them selves at Thai ,Singapore Etc. this is the result of stubbornness what can I say they are stupid but they do not admitted = they do not want to improve and the end of the day they fuck the country up and Cambodian people who is suffer and please shut the fuck up do not lie to the others. I do not care about the world Bank shit talker I do not want Cambodian people eat pig food. Got it? I wanted in reality
10:25, stop mumbling. Just tell us how much more growth you can do for Cambodia, and how. No one is complaining about East or West, alright?
When one read this article, one thought that it was all about numbers, specifically, micro economic.
But at a closer examination, Mr. Hun Sen is talking about more than numbers. He projects hope that one day, Cambodia's growth will rival that of its neighborhood (whether this become a reality, it remains to be seen). And he hopes that this growth will be a vehicle by which the many Khmer who seek jobs would find one on Cambodia soil.
He speaks with confident, with optimism and above else, he speaks with pride, which was hard won.
A shrew politician, he is that and more. A devil wearing a business suit and swinging a golf club, he is that too. A man whose opponents gave all sort of names and planned all sort of ills upon him and vis versa, but no one can deny that he is the direct beneficiary of the new energy growing within Cambodia after so many years of war and heart aches.
Khmer is re-emerging, and Mr. Hun Sen is capitalizing on this energy.
As Mr. Hun Sen and the affluent Cambodian take advantages of Khmer's emerging energy, we urge them not to overlook our poor, destitute and the infirm. We urge him to be as inclusive of dissenting voices. Dissenting voices could be a key to Cambodia survival and independence from its larger neighbors. We want the best minds around when danger come a knocking, so that no one can claim that they beat the children of the great Angkorian in 7 days ever again.
Again, the number is being played out for foreign consumption, but hope is also being projected for Khmer consumption...and which ever readers decided, it is up to readers individual test and style. Mr. Hun Sen has a little of everything for everybody....this include amble supply of bullets and bombs for those whose wish him ill, and a boat load of money for those who wish to talk money...Rice too...if the poor need rice, he'll doled that out too, but of course he must also benefit. Prey Sar?...., but of course. Khmer Rouge?...Khmer who?
To 11:57PM!
Thank you for showcase Mr. Hun Sen generosity upon Cambodian people!
Let be honest for once! This is between you and me! Does Hun Sen generosity only apply to CPP clan and the CPP supporters or does his generosity apply to the whole Cambodian population?
I know for a fact that Hun Sen's generosity doesn't apply to the whole Cambodian population! Land grabbing is just one of the examples!
True, but PM Hun Sen's generosity was only meant for real Khmer citizens, not for Ah lowlife illegal Khmer-Yuon immigrants and criminals.
Tell me that AH HUN SEN didn't ride on the back of Khmer Krom people to power! Ahahhahhahahhah!
Hun Sen knows what the Khmer Krom people had done for him and that is why in the 1980 when AH HUN SEN asked the Vietcong government for the Khmer Krom help to fight the resistance and the Vietcong turn down his request and the Vietcong government claimed that are no Khmer Krom people in Vietname!ahaha
You are the only person to claim that Khmer Krom people still exist in Vietname!ahahhahhahahah I dare to go to Vietname right now and ask the Vietcong government about the Khmer Krom people and the Vietcong will tell you to get lost!
Let get real and stop lying fool!
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