Published on : Friday, May 11, 2018
Nevertheless, the group stated that risks remain with possible election-related hesitation and periodic jolt of protectionism raising the arguments between the largest trading nations of the world.
On Thursday, the latest Cambodia Economic Update (CEU) was launched, rising government spending and positive global conditions, like robust demand in terms of developed economies, are anticipated to strengthen Cambodia’s high growth trajectoryInguna Dobraja, World Bank Country Manager for Cambodia said, “investing in people is the best for a more prosperous future”.
“To maintain strong growth, it is essential that Cambodia invests more in education and skills training while addressing the constraints facing small and medium businesses”, he said.
Danger remains like the corrosion of export competitiveness as a result of rapidly rising real wages, an increase of vulnerabilities related to extended real estate and construction explosion, potential election-related indecision, and time to time jolts of protectionism and escalating trade disputes between the world’s largest trading countries, according to the report.
The report observed that Cambodia has the possibility to diversify growth and generate more job opportunities by decreasing the costs of company formalization, operation and financing.
Tags: Cambodian economy grows