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Cambodia’s economy on growth track, all sectors recovering fast, says PM Hun Manet
Prime Minister Hun Manet predicts a strong economic growth for Cambodia in 2024 and even higher growth in 2025, with all sectors showing rapid recovery. The announcement was made during the groundbreaking ceremony for twin flyovers at Samdech Techo Hun Sen Blvd, on the border between Phnom Penh and Kandal province. The bridges will connect Kandal with Phnom Penh, boosting growth in the surrounding areas. Experts agree with the Prime Minister’s forecast, attributing Cambodia’s economic growth to the government’s right policies and strategies in creating an attractive investment environment. Deputy Prime Minister Aun Pornmoniroth predicts a six percent growth in 2024, up from five percent in 2023.
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Cambodia’s economy is on a growth track, with all sectors recovering fast, according to Prime Minister Hun Manet. In a recent announcement, he stated that the Cambodian economy is set to grow in 2024 and achieve even higher growth in 2025. This positive outlook is a result of the country’s efforts to attract foreign investment, facilitate trade, improve tax laws, and implement other service sector reforms.
The Prime Minister made these remarks during the groundbreaking ceremony for the construction of twin flyovers at Samdech Techo Hun Sen Blvd, on the border between Phnom Penh and Kandal province. He emphasized the importance of investing in infrastructure for the future, stating that the bridges will connect Kandal with Phnom Penh and boost the growth of the surrounding areas.
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Dr. Chey Tech of Dynamic Alliance Consulting echoed the Prime Minister’s positive outlook, noting that Cambodia’s economic growth aligns with forecasts from major development partners such as the IMF, ADB, and the World Bank. He highlighted the government’s efforts in creating an attractive investment environment through the implementation of the right policies and strategies.
To achieve its goal of becoming an upper middle-income country by 2030 and a high-income country by 2050, Cambodia must continue to reform and improve its economic policies. Deputy Prime Minister and Minister of Economy and Finance, Aun Pornmoniroth, also expressed optimism about the country’s economic growth, predicting a six percent growth rate in 2024, up from five percent in 2023.
The positive outlook for Cambodia’s economy is a result of the government’s commitment to attracting foreign investment and implementing reforms to facilitate economic growth. The construction of infrastructure projects like the twin flyovers at Samdech Techo Hun Sen Blvd will not only improve transportation but also stimulate economic development in the surrounding areas.
In conclusion, Cambodia’s economy is on a growth track, with all sectors recovering fast. The government’s efforts to attract foreign investment, facilitate trade, and implement economic reforms have laid a solid foundation for future growth. With continued commitment to reform and development, Cambodia is well-positioned to achieve its economic goals in the coming years.
Source: [Khmer Times](https://www.khmertimeskh.com/)
