A display of lights near the Independence Monument in Phnom Penh. (Source: Khmer Times)
Phnom Penh (VNA) – Some managers andentrepreneurs have talked about business prospects for Cambodia in 2020 inrecent interviews of Cambodia’s English-language newspaper Khmer Times.
Ken Loo, secretary-general of the GarmentManufacturers Association in Cambodia, said the garment-textile sector in 2020will depend much on the outcome of the decision of the European Union on theEverything But Arms (EBA) trade deal.
“If the EBA is retained, our sector shouldbe able to continue to experience growth,” he said.
“We should continue to see a revival in exportsto the USA – our exports should continue to experience decent growth to theUSA. We expect to see more investors in both garment and travel goods nextyear.”
He added that the sector will continue focusingon improving productivity and efficiency as well as invest more in training andincreasing skills for workers.
Meanwhile, In Channy, president and groupmanaging director of ACLEDA Bank and president of the Association Bank ofCambodia (ABC), said the financial sector performed well in 2019 and it willcontinue enjoying a healthy growth rate in 2020 thanks to political stabilityand favourable macro-economic situation.
“In 2020, we foresee that the outstandingloans and deposits will increase around 10 percent and 12 percent respectively.The growth will depend solely on the overall economic growth, peace andstability. Our growth plan is dependent on the economic growth of Cambodia,” hesaid.
Ha Jong Weon, vice-chairman and chief operationsofficer of the Cambodia Securities Exchange (CSX), said the CSX performed wellin 2019. The daily average trading was 73.55 million USD in the first 11 monthsof 2019, while it was only 2.92 million USD in the same period of 2018, hecited.
“Our mission in 2020 is to find a techcompany to join the stock market,” he said./.
VNA
