May Kunmakara
The Phnom Penh Post
A shortage of financing would exacerbate the gap in development between Cambodia, Laos, Myanmar and Vietnam (CLMV) and the six more economically mature ASEAN member states, Prime Minister Hun Sen said yesterday.
“In spite of the endless efforts and inspiration on accelerating the development of the CLVM countries, the fundamental challenge of our cooperation is financing,” the prem-ier said during his opening remarks at a conference on CLVM countries.
He said foreign direct investment, market integration and overseas development aid played a important role in the development process.
Despite increased infrastructure and human-resources spending, in addition to efforts in poverty reduction, the economic disparity between the four peninsular Southeast Asian countries was significant,
K Kesavapany, the director of Singapore’s Institute of Southeast Asian Studies, said during the conference.
“The development gap between the ASEAN-6 and the CLMV countries remains noticeable,” he said.
“Bridging this development divide is among the most pressing chall-enges facing the successful establishment of the ASEAN Economic Community (AEC) 2015.”
ASEAN countries hope to harmonise banking practices and commerce, among other aspects of their economies, by 2015.
A review released last year showed that 74 per cent of the targets for reaching the goal had been met.
Hun Sen urged CLMV countries to mobilise resources, while asking the private sector to improve market access to products originating within the four countries.
Promotion of the free flow of goods and services would accelerate the integration process, he said.
Peter Brimble, senior country economist at the Asian Development Bank, said Cambodia would have a better chance to address all the issues of CLMV countries because its 2012 ASEAN chairmanship would attract funding.
4 comments:
A lot of talk but no action. Why would any business invests in Cambodia if corruption is at all levels. All CPP members sit on all governmental positions. Bussiness has to pay the extral fee if the application needed to done. Shipment of a product needs to pay extral to the guys inspecting the shipment. Hunsen should first talk to any business person and ask what is the most problems facing bussiness in Cambodia, but he wouldn't ask because he know why.
asean should close the gap and stop being biased against cambodia, ok!
11:56AM! there is no Asean without Cambodia! Ah Kwack should not bias against Cambodia that what you mean?
6:04! HOW CAN Ah Kwack go ask for oppinion from ligit honest business men???? Most if not all member of Cambodia Chamber of Commerce are crook and Ah Kwack Hun nxen's tugs!!!
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