Kh News

The Royal Government of Cambodia will promote further growth in four major sectors to accelerate and accelerate the recovery of the national economy.

(Phnom Penh): With the reopening of the country, the Royal Government will continue to implement existing educational, administrative and health measures, social assistance programs and interventions. At the same time, in order to accelerate the recovery and accelerate economic growth, the Royal Government of Cambodia will promote further growth in four major sectors: agriculture and agro-industry, tourism, garments and non-garment manufacturing.

 This is according to the document, strategic framework and program to restore and promote Cambodia's economic growth in living with Kovid 19 in the new normal path for 2021-2023.

The Strategic Framework Document states that in order to promote economic recovery and growth, the Royal Government will focus on addressing structural challenges in the potential sector and the challenges of economic growth that can create short-term value-added 2021. 2023 and promote the recovery of social and economic activities to new normalities as soon as possible, especially to ensure macroeconomic stability as well as job stability for workers.

The strategic framework will focus on rehabilitating and promoting growth in four sectors: agriculture and agro-industry, tourism, garments and non-garment manufacturing.

 * Agriculture and agro-industry

 During the Kovid 19 crisis, agriculture and agro-industry were considered to have high potential for maintaining national economic stability and ensuring food security. This sector is not affected, but alleviates the burden and impact of other sectors through employment and income.

 In order to take advantage of the agricultural sector to revive the economy, this strategic framework will focus on boosting agricultural productivity, strengthening competitiveness in both cost and quality, modernizing infrastructure, supporting the supply chain of agricultural products, promoting Processing of agricultural products, boosting the seed industry and maximizing the benefits of free trade agreements.

* Tourism

 Tourism is the hardest hit sector by the sharp decline in international tourists. As a strategic direction, the Royal Government will focus on promoting domestic tourism, which has the potential and momentum of recovery, through the implementation of policy measures to promote the internal tourism movement in 2021-2023. In order to achieve 11 million domestic tourists by 2023.

 In addition, a strategic plan on access to vaccinated tourism has been launched to provide safe, proactive and prudent tourism in a step-by-step manner aimed at attracting 7 million international tourists by 2025.

 * Garment sector

 The garment sector, including footwear and bags, has developed over the past three decades and continues to contribute to many major socio-economic achievements, including economic growth, exports, investment, and poverty reduction. And job creation.

 The Royal Government of Cambodia plans to launch the implementation of the "Cambodia Garment and Footwear Development Strategy 2021-2025" with the vision of developing the sector into an environmentally sustainable, durable, high value-added industry, focusing on expensive products. High and unique, highly competitive and fundamentally supportive of economic diversification.

 * Non-garment manufacturing sector

 The non-garment manufacturing sector has been showing signs of rapid growth in recent years, reflected by rising export growth and diversification.

In the future, the Royal Government will continue to promote the implementation of the Cambodian Industrial Development Policy 2015-2025, focusing on strengthening and expanding the Cambodian industrial base, especially high-demand goods and high value-added products that can serve both demand. Both domestically and export by promoting connectivity to regional and global value chains.