Sustainable Development Goals
SDG 8 Decent work and economic growth
Growth forecast falls to 6.5% as gov’t eyes more exports to US
The government downgraded its economic growth forecast for this year to 6.1 per cent from its earlier 6.5 per cent projection, Ministry of Economy and Finance undersecretary of state Phan Phalla said on Thursday. Speaking at a public forum on Macroeconomic Management and Budget Law ...
Mixed reactions over 2020 outlook
Reactions to Cambodia’s economic and political outlooks for this year have been mixed as the possible loss of the EU’s Everything But Arms (EBA) scheme in February looms. The risks and challenges related to the uncertainty over the possible withdrawal of EBA and the country’s ...
PM: ‘Peace and stability the bedrock of growth’
Prime Minister Hun Sen, speaking to thousands of Cambodian People’s Party faithful who had congregated on Koh Pich to commemorate the 41st Victory Day on Tuesday, said peace and political stability was the bedrock of Cambodia’s 7.1 per cent economic growth. Low inflation, a stable ...
Executive outlook for 2020
Despite internal and external challenges, the Cambodian economy reached even greater heights last year, with the government reporting economic growth of 7.1 per cent – the highest in the Asean region. However, China-US trade tensions and protectionist policies remain obstacles, with the government forecasting 6.5 ...
Hun Sen: Kingdom’s economy to grow 7.1%
Cambodia’s economic growth is projected at 7.1 per cent this year or about $24 billion thanks to the good performance of the industrial sector that is creating strong domestic revenue. Speaking at the graduation ceremony of Cambodia University of Specialties on Wednesday, Prime Minister Hun ...
National economy experiencing robust growth: WB
The bank’s Cambodia Economic Update Report released yesterday said that Cambodia’s real growth of Gross Domestic Product (GDP) is forecast to decelerate to 7 percent in 2019, down from 7.5 percent in 2018. ...
World Bank: Growth at 7% for this year
Cambodia’s economy remained robust, underpinned by solid export performance and strong domestic demand, even as real growth is expected to decelerate to 7.0 per cent this year from 7.5 per cent last year, the latest World Bank Cambodia Economic Update said on Wednesday. ...
IMF: Cambodia’s economic growth to be highest in Asean
Cambodia’s economic growth is projected to be highest in the Asean region despite facing several challenges, the International Monetary Fund (IMF) said. In its latest Regional Economy Outlook published on Tuesday, the IMF predicts that the Kingdom’s economic growth will remain strong at seven per ...
IMF mission projects positive economic outlook with possible downside risks
An International Monetary Fund (IMF) team led by Jarkko Turunen, deputy division chief of the Asia Pacific Department (APD) visited Phnom Penh to conduct discussions under what is known as the Article IV consultation. Under the Article IV consultation, IMF staff undertakes annual surveillance and analysis ...
Almost all migrant workers ‘legal and safe’: Ministry
Labour Minister Ith Samheng on Wednesday told a representative of the International Organisation for Migration that the government has successfully legalised almost all Cambodians working overseas and made their situation safer. The minister said the government has always prioritised finding a solution to the migration problems ...
Cambodia launches campaign to end child labor in brick industry
Cambodia has launched a campaign to end child labor in the brick industry by 2020, a move industry observers cautiously welcome while expressing doubts the goal will be achieved, and calling for more structural changes. ...
Gap in proposed minimum wage
Unions and employers have proposed starkly differing figures of what the minimum wage for garment and textile factory workers should be next year. Minimum wage negotiations between employers, the government and unions began on August 29 and are expected to end before September 25. After their ...
Region probes social security
Cambodia will host the biannual meeting of Mekong Delta labour ministers in two weeks’ time when they will discuss having a common social security net for workers. Labour Minister Ith Samheng said last week that he will meet with his counterparts from Laos, Vietnam, Thailand and ...
Gov’t: Being competitive key to growth
Minister of Commerce Pan Sorasak on Wednesday said the Cambodian government has focused on its competitiveness strategies and the growth of Industry 4.0 in the Kingdom to withstand the trends of global protectionism and geopolitical polarisation. Speaking at a workshop on “Cambodian Trade Integration Strategy ...
Economic growth may slow to 6.5% due to EBA, global risks
The government has predicted that Cambodia’s economic growth will decline to 6.5 per cent next year – down from 7.1 per cent this year – due to global challenges and the possible withdrawal of the EU’s “Everything But Arms” trade agreement. The prediction was made ...
Gov’t to discuss garment wage
The Ministry of Labour and Vocational Training, and employer and union representatives will meet next month to discuss the 2020 minimum wage for workers in the garment and footwear sectors, where unions expect an increase of between $20 and $25 a month. ...
Cambodia’s workforce needs help
The Asian Development Bank’s (ADB) recent US$60 million loan to Cambodia is set to boost the skills and competitiveness of its growing labour force as the country’s economy undergoes a key transition. Driven by garment exports and tourism, Cambodia’s economy grew by an average of ...
Land earmarked for Mondulkiri’s new airport
A plot of land consisting of 300 hectares and located in O’Raing district has been chosen by local authorities for the development of a domestic airport, said Sin Chanserey Vutha, spokesman for SSCA. This plot will now be submitted to the government for approval. If ...
Kingdom’s economy set to slow despite robust growth
The Cambodian economy is projected to slow slightly this year compared to last year, despite robust growth of around seven per cent, an Asian Development Bank (ADB) report released on Wednesday said. ADB said economic expansion last year hit 7.3 per cent on the back ...
Government, ILO cooperation hailed
Prime Minister Hun Sen on Monday highlighted the joint accomplishments of the Cambodian government and the International Labour Organisation (ILO) in helping to bring 1.5 million of the Kingdom’s workers into the formal labour market. The ILO was established in Paris on October 29, 1919, ...