Yearender: Cambodia’s economy remains strong in 2013 despite political row, flood havoc: officials
Cambodia’s economy is expected to maintain the robust growth of over 7 percent this year even though the country is still trapped in political dispute and recovering from the aftermath of recent floods, senior officials and bankers said. But some analysts predicted that political trouble, coupled with flood damage, would slash the country’s growth to 6 percent this year. … Addressing to the National Assembly last month, Minister of Economy and Finance Aun Porn Moniroth said Cambodia’s GDP (Gross Domestic Product) growth in 2013 was projected at 7.6 percent in equivalent to 15.19 billion U.S. dollars. The country’s per capita GDP was expected to reach 1,036 dollars this year, up from nearly 1,000 dollars in a year earlier. … Apparel exports, the kingdom’s largest foreign exchange earner, have made 4.76 billion dollars in the first 10 months of this year, up 24 percent year-on-year, according to the government’s figures. Tourism has witnessed a remarkable growth with tourist arrivals increasing by 19 percent to 3.4 million during the first 10 months of 2013. The construction has received a total investment of 2.48 billion dollars in the first 10 months of 2013, up 29 percent compared with 1.92 billion dollars over the same period last year. Agricultural sector was expected a 4.2 percent growth this year even though about 4.4 percent, or 113,260 hectares, of the total planted rice paddy had been completely destroyed by floods between August and October. … “Their boycott cannot cause crisis or political instability in Cambodia,” [Council of Ministers spokesman] Phay Siphan said. “Investors are still coming to Cambodia because they trust the country’s political and macroeconomic stability under the leadership of the ruling Cambodian People’s Party and Prime Minister Hun Sen.” …
Nguon Sovan and Wang Qibing
http://news.xinhuanet.com/english/business/2013-12/19/c_132979125.htm
