PHNOM PENH, Feb. 5 (Xinhua) -- The Cambodian economy is in good shape, though it has been affected by the global financial crisis, Prime Minister Hun Sen told the Third Cambodia Economic Forum hereon Thursday.
"We have succeeded in securing peace, political stability, security and social order, while promoting macro-economic stability and international integration. We have been successful in developing our infrastructures as well as improving governance structure," he said.
The economic growth has been robust, averaging at 9.4 percent during the last decade and 10.2 percent in 2007, he said, adding that this helped reduce poverty by one percent per annum from 47 percent in 1994 to 30 percent in 2007.
"Despite the global economic downturn, the Cambodian economy is estimated to grow by seven percent in 2008 and the government will try to maintain a six percent growth in 2009," he said.
Cambodia's banking system remains strong in general, well capitalized and highly liquid, he said, adding that bank loans and deposits continued to grow in 2008, reflecting public confidence in the banking system.
"Our international reserves position has been favorable and was doubled during the last two and half years, from one billion U.S. dollars years ago to two billion U.S. dollars in 2008," he said.
Meanwhile, the progress in agriculture has been historically impressive and "we managed to increase rice yield up to 2.65 tons per hectare in 2008", from 2.5 tons per hectare in 2005, he said.
"There is still room for yields improvement by making investment in physical infrastructures, especially irrigation system, increasing agriculture productivity, and promoting agricultural diversification," he added.
In addition, the garment sector is now in good standing to compete in the world market, with its improved labor standards, he said.
"By further strengthening this competitiveness together with the government's on-going measures to implement trade facilitation and promote investment, we will be able to further enhance the attractiveness and competitive advantage of Cambodia in term of promoting and diversifying exports," he added.
Also, tourism is a great potential for development and remains generally strong, he said.
Hence the building of more physical infrastructure, improving legal framework and institutions capacity, developing human resources, tourism market diversification as well as the promotion of attractive tourism package based on the need to maintain strong political stability, safety, peace and social order will open more opportunities for this sector, he added.
The Third Cambodia Economic Forum was organized by the Supreme National Economic Council (SNEC) with the assistance of the United Nations Development Program (UNDP) to focus on competitiveness enhancement and poverty reduction in face of the current global economic crisis.
"We have succeeded in securing peace, political stability, security and social order, while promoting macro-economic stability and international integration. We have been successful in developing our infrastructures as well as improving governance structure," he said.
The economic growth has been robust, averaging at 9.4 percent during the last decade and 10.2 percent in 2007, he said, adding that this helped reduce poverty by one percent per annum from 47 percent in 1994 to 30 percent in 2007.
"Despite the global economic downturn, the Cambodian economy is estimated to grow by seven percent in 2008 and the government will try to maintain a six percent growth in 2009," he said.
Cambodia's banking system remains strong in general, well capitalized and highly liquid, he said, adding that bank loans and deposits continued to grow in 2008, reflecting public confidence in the banking system.
"Our international reserves position has been favorable and was doubled during the last two and half years, from one billion U.S. dollars years ago to two billion U.S. dollars in 2008," he said.
Meanwhile, the progress in agriculture has been historically impressive and "we managed to increase rice yield up to 2.65 tons per hectare in 2008", from 2.5 tons per hectare in 2005, he said.
"There is still room for yields improvement by making investment in physical infrastructures, especially irrigation system, increasing agriculture productivity, and promoting agricultural diversification," he added.
In addition, the garment sector is now in good standing to compete in the world market, with its improved labor standards, he said.
"By further strengthening this competitiveness together with the government's on-going measures to implement trade facilitation and promote investment, we will be able to further enhance the attractiveness and competitive advantage of Cambodia in term of promoting and diversifying exports," he added.
Also, tourism is a great potential for development and remains generally strong, he said.
Hence the building of more physical infrastructure, improving legal framework and institutions capacity, developing human resources, tourism market diversification as well as the promotion of attractive tourism package based on the need to maintain strong political stability, safety, peace and social order will open more opportunities for this sector, he added.
The Third Cambodia Economic Forum was organized by the Supreme National Economic Council (SNEC) with the assistance of the United Nations Development Program (UNDP) to focus on competitiveness enhancement and poverty reduction in face of the current global economic crisis.
16 comments:
Hun Sen has low standards when it comes to the well being of Cambodia, it's people, and its future. Peasant beggars like Hun Sen are always shortsighted and in his case, he's blinded to most of everything else in this world.
Excellent performance! Except for China and Vietnam, no one can do better.
I agree. Your government is excellent in corruption to the bones; in South East Asia, Cambodia is outstanding. All the national income earning from all prosperous business sectors has flowed into the crooks from the top to the bottom.
Yeah, and you are blind and brain dead.
Don't believe a word that the cpp regime speaks off! For their word are crooked, and currupted from the inside out.
Well, at least we doing a lot better than Pouk Ah Scam Rainxy and his potato diggers.
Cambodian economic good shape! Oh Gosh… although he got PhD from Yuon, that doesn’t mean shit… can’t make his vision better. Blind will be blind.
Does he have billions of dollars to rescue and buy the whole country before he claims Cambodia is doing good in economy overall?
Think about blind!
Thank God for PM Hun Sen. If Cambodia was run by Pouk Ah Scam Rainxy, there won't be any such thing as Cambodia on this planet.
Ah Saddam HunSein has never studied in Developing Country and Economy. So what he’s telling us is base on what he sees a group of his personal advisors’ wealth and property that rob from the poor. He never goes to remote area and countryside to see with his blind eye or he’ll be surprise about the poor peasants.
He makes his presumption for telling lie and some people take it for grant.
Where are factories, industrial and higher education system in Cambodia for younger people? Most of the time he depends on foreigners to support and cut down trees for his families to be riche.
We have no problem with our higher education system. Our people has done much better from it than Ah Potato diggers oversea.
You not Khmer 10:38 AM,May God Bless the Kingdom Of Cambodia.
Why do you say that, 11:14?
LoL, 11:38, why many of Khmer student wish to learn abroad than in Cambodia itself.
Why English are such important than Khmer in society?
Not only education; job and almost everything.
What do you mean so many? only a few can afford to go west, and little more can afford Vietnam, China, Thailand, ... . But a majority is doing very well with what we got at home. Just look at the accomplishments. These people built skyscraper, road, dam, power plant, irrigation system, .... On the other hand, Ah Pleu oversea are only good for a low life manufacturing jobs or Vietnamese grocery store.
you are Ah Hun Sen's Slave indeed.
A Kwak Hun Sen has cut the oil and cars for government officials.
Look so good and as if he were thinking of the welfare of the nation. A shit PhD kwak hun sen, only pouk a pleu think it is good.
A kwak eng is pushing your buddy and your followers to commit more crime and corruption. Who can survive with their A kwak nation salary?
YOU, Mr. Hun Sen's slav 12:49?
oh maybe A kwak Relatives can survive and live a luxurious life because they can sell their brain,ass, pussy, and dick to the rich nations.
Oh i heard that some of A kwak relative are like hookers--especially, female relatives, fucking with many guys and changing partners many times.
If you dun believe, think about about his newly married daughter, Hun Mana and his niece, Hun Chantha. they are like Som Pheung jing. Hun Chantha is having secret affair with Kit Meng and if Kit Meng doesnt come to satisfy her, she will fuck with other guys who are under her order.
This is exactly who we are, Cambodians. We never stand behind or support our leaders at all. At present, we hate Hun Sen, we call him A kwak and soon the person gets elected we will do the same shit again and again until Cambodia is no longer known to the world like Champa. Look at what happens at Peah Vihea now buddies; our homeland is being invaded by Thai and we are criticizing each other claiming this person is better than that person. Why cannot we help to find solution for our country instead of creating shit among us.
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