Export diversity induces growth

In order for Cambodia to maintain the same rate of growth it has enjoyed in the past few years, exports need to diversify from textiles and tourism to modern services, said the World Bank’s country manager yesterday in Phnom Penh. “Cambodian firms are already tentatively exporting some niche services such as computer-based animation. Modern-services exports play a more important role in Cambodia as a source of employment, revenue and investment,” Alassane Sow said at the National Workshop on the theme of ASEAN Economic Community (AEC) 2015: Opportunities and Challenges for Cambodia’s Trade in Services. “In the regional context, Cambodia should benefit from the implementation of the AEC to attract investment from services firms to serve the region and the world. Cambodia should act quickly to address potential competition from other least-developed and developing countries across the regions that are also expanding their services industries,” he said.   …

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