Cambodian PM Highlights Economic Achievements in Previous Year

AKP Phnom Penh, April 11, 2019 —

Samdech Akka Moha Sena Padei Techo Hun Sen, Prime Minister of the Kingdom of Cambodia, shared some of the country’s major economic achievements in the previous year.

Based on security and full peace, Cambodia is estimated to achieve an economic growth of 7.5 percent ​ in 2018 thanks to the progress in the fields of industry, manufacturing, construction, agriculture and services such as tourism and real estate, Samdech Techo Hun Sen said in his message to his beloved compatriots on the Khmer Traditional New Year.

Besides, he added, the international trade was valued at more than US$29,800 million while the export volume rose to US$12,800 million.

The exchange rate was stable, the inflation rate was at a low and manageable level, and foreign exchange reserves kept increasing, he underlined.

The Premier also noted the improved people’s living standard, stressing that the GDP per capita reached US$1,563 in 2018, up from US$1,042 in 2013, while the poverty rate dropped dramatically from 53.5 percent in 2004 to 9 percent in 2018.

For rice production, he pointed out, Cambodia produced more than 10.6 million tons of paddy, a year-on-year increase of 2.63 percent with a surplus of over 6.2 million of paddy or 4 million tons of milled rice for export. Last year, the country exported more than 620,000 tons of milled rice to international markets.

Up to now, there are some 1,500 factories in Cambodia, most of which are garment and footwear factories, and over 156,890 small and medium enterprises, employing more than 1 million people, he continued.

With booming construction industry, Cambodia has now about 1,080 buildings from 5 to 40 floors, said Samdech Techo Hun Sen, adding that the country attracted in total 6.2 million foreign visitors in 2018.

Prime Minister Samdech Techo Hun Sen also shared Cambodia’s successful missions on the international arena.

By Khan Sophirom