World

Cambodia optimistic about 2021 GDP growth

Cambodia’s economic growth in 2021 is projected to reach around 3 percent thanks to the strong export of agricultural and industrial products, especially the country’s reopening post COVID-19.
Cambodia optimistic about 2021 GDP growth ảnh 1At the ground-breaking ceremony for the upgrading of National Road 48 on January 3.(Photo: Khmer Times)
Phnom Penh (VNA) - Cambodia’s economicgrowth in 2021 is projected to reach around 3 percent thanks to the strongexport of agricultural and industrial products, especially the country’sreopening post COVID-19.

The projection was made by Prime Minister Hun Sen whileaddressing a ground-breaking ceremony for the upgrading of National Road 48 on January3.

“The final projection of the economic growth will bemade in the next three months, but at least it will reach around 3 percent,” HunSen said, as cited by Khmer Times.

The PM’s GDP forecast is higher than the growth ratesof 2.4 percent for 2021 and 4 percent for 2022, mentioned by the Ministry ofEconomy and Finance in the budget bill 2022, which has been endorsed recently.

Phan Phalla, Secretary of State at the Ministry ofEconomy and Finance, said the decision to resume economic and social activitiesfrom early November would make the GDP growth projection of 2.4 percent wrong.

Between January and September, Cambodia’s total export(excluding gold) reached 12,688 million USD, a year-on-year rise of 23 percent,driven by garments, bikes and other goods.

In its report on ‘Macroeconomic and Banking Progressin 2021 and Outlook 2022’, the National Bank of Cambodia forecast that the economywill continue to grow 5 percent in 2022 thanks to the export of garments andnon-garment products, electronic components and bicycles./.
VNA
#COVID-19#Cambodia#industrial products#Prime Minister Hun Sen#Vietnam#VietnamPlus#Vietnam news
Follow VietnamPlus

Related News

Cambodian border provinces tightening up as Omicron hits Thailand

Cambodian border provinces tightening up as Omicron hits Thailand

Amid fears of large-scale transmission of the new COVID-19 variant Omicron, Cambodian border province authorities are looking at the possibility of implementing strict measures for crossing migrant workers, including implementing mandatory quarantine and PCR testing.
Cambodia to strengthen ASEAN’s central role as Chair 2022: FM

Cambodia to strengthen ASEAN’s central role as Chair 2022: FM

Cambodia will strengthen ASEAN’s central role so as to maintain peace, security and prosperity as Chair of ASEAN for 2022, Cambodian Deputy Prime Minister, Minister of Foreign Affairs and International Cooperation Prak Sokhonn said on December 29. ​
Cambodia's tourism sees fast recovery despite Omicron

Cambodia's tourism sees fast recovery despite Omicron

Although more Omicron variant infections are reported, Cambodia’s tourism sector recovery shows no sign of slowing down, with a sharp rise in the number of tourists during the New Year 2022 celebrations.
Cambodia’s agricultural exports surge in 2021

Cambodia’s agricultural exports surge in 2021

Cambodia exported 7.98 million tonnes of agricultural products in 2021, up 63.8 percent year-on-year, raking in nearly 5 billion USD, according to Minister of Agriculture, Forestry and Fisheries Veng Sakhon.

See more

At Pulau Seraya power station (Photo: Straitimes)

Singapore begins construction on hydrogen-fueled power plant

Singapore on October 23 began the construction of an 800 million USD power plant that has the capability to use hydrogen to generate electricity, as part of a push to utilise the fuel to reach Singapore’s net-zero carbon emissions target by 2050.

Delegates at the event (Photo: VNA)

125th anniversary of Permanent Court of Arbitration celebrated

The Permanent Mission of Vietnam to the United Nations and missions of the Philippines, Australia, Egypt, Guatemala, Hungary, Thailand, France, Eritrea and Austria, organised a ceremony on October 22 to celebrate the 125th anniversary of the Permanent Court of Arbitration (PCA), as part of the International Law Week at the UN General Assembly's Legal Committee (Sixth Committee).

CEO of the Malaysia Digital Economy Corporation Anuar Fariz Fadzil (Photo: focusmalaysia.my)

Malaysia continues placing emphasis on digitalisation

The Budget 2025 provides significant support to further accelerate Malaysia’s digitalisation, encourage adoption of artificial intelligence (AI) and drive inclusive growth, further positioning Malaysia as a leading digital hub within the ASEAN region, according to CEO of the Malaysia Digital Economy Corporation (MDEC) Anuar Fariz Fadzil.

Malaysia's economic reforms boost investment inflow (Photo: thestar.com.my)

Malaysia's economic reforms boost investment inflow

Malaysia has attracted substantial foreign investments, reaching 22.2 billion MYR (5.16 billion USD) in the third quarter of 2024, the highest level for the same period since 2012, according to UOB's Global Markets and Economics report.

Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the UN speaks at the debate (Photo: VNA)

Maintaining peace, stability a must for progress on human rights: Ambassador

Progress in human rights can only be achieved by maintaining peace and stability, respecting the rule of law at both the international and national levels, and ensuring respect for the principles of national sovereignty and non-interference in internal affairs, said Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the UN.

A visitor browses travel promotions at a travel fair in Nonthaburi province. (Photo: Bangkok Post)

Thailand plans enhanced support for domestic tourism

Thailand’s Ministry of Tourism and Sports is aiming to increase subsidy to local tourists in the upcoming stimulus scheme to 50% and would like to change the criteria for online travel agents, mandating them to register in Thailand to avoid losing income to foreign companies.

Oil field offshore Indonesia. (Photo: thejakartapost.com)

Indonesia begins major oil, gas exploration in Sulawesi

Indonesia's state-owned oil company Pertamina, along with foreign partners Sinopec from China and Kuwait’s Kufpec, has signed a contract to explore the Melati oil and gas block, located off the coast of Sulawesi. The block is estimated to contain trillions of cubic feet of gas reserves.