The Cambodian economy is expected to expand 7 percent in 2018, compared to 6.9 percent last year, underpinned by external demand and upbeat investor sentiment, a new World Bank (WB) report said on October 4.


Illustrative image (Source: VNA)  

 The bank's latest Cambodia Economic update said garment, travel goods, and footwear exports increased 16.1 percent year-on-year during the first half of 2018, marking a two year high. 

Tourist arrivals to Cambodia reached 3 million during the period, which represented a 13.6 percent increase year-on-year, compared with 11.8 percent in 2017, driven by a surge in the number of Chinese travellers by air. 

The report said capital inflows to the Southeast Asian nation continued to increase, mainly foreign direct investment in construction projects.
 
Especially, investment from China sharply increased as Chinese investors wished to take advantage of low-cost labour in Cambodia to develop real estate and manufacturing sectors. 

The report also highlighted main risks to Cambodia's economy, including rising protectionism and potential revision of Cambodia's preferential access to advanced economies.

Cambodia's growth is projected to ease modestly to 6.8 percent in 2019 and 2020 due to the peak of global demand, the report said.

 

 

                   Source: VNA 

 

Related Topics


Vietnam elected Vice President of UNESCO General Conference

Vietnam was elected a Vice President of the 42nd session of the UNESCO’s General Conference, representing the Asia-Pacific, on November 8.

Safe and responsible use of AI promoted

Since the "blockbuster" ChatGPT was launched a year ago, the prospects for the development of artificial intelligence (AI), as well as concerns about the risks from this technology, have become hot topics in the technology world.

Successfully completing the training program to improve the capacity of implementing the Government’s policy in Korea

(HBO) - From September 12 - 23, in Seoul, South Korea, the Korea International Cooperation Agency (KOICA) organized a training program under the project "Supporting the Academy of Journalism and Communication to improve the the capacity of implementing the Govermmment’s policy” in phase 2 with the coordination and the coordination of Hyundai Research Institute (HRI).

KOICA fellowship programme 2023 opens in Republic of Korea

(HBO) – The Korea International Cooperation Agency (KOICA) opened a fellowship programme in Seoul on September 13 under Phase 2 of a project that helps Vietnam’s Academy of Journalism and Communication (AJC) enhance its capacity of implementing government policies.

Dialogue, consultation and international laws crucial in international relations: Official

Vietnamese Deputy Minister of Foreign Affairs Do Hung Viet on September 4 attended the ASEAN Foreign Ministers’ Meeting in Jakarta, Indonesia, emphasising the bloc’s role as the epicentre of peace, security, cooperation and prosperity in the region.

ASEAN launches negotiations on digital economy framework agreement

Negotiations on the ASEAN Digital Economy Framework Agreement (DEFA) have been kicked off within the ASEAN Economic Community Council (AECC)’s 23rd meeting in Jakarta, demonstrating the strong cooperation among ASEAN member countries in promoting digital economic transformation in the region.