A view of Phnom Penh capital city of Cambodia at night (Photo: Lighthousecambodia.org)Hanoi (VNA) – Cambodia has attained varioussocio-economic achievements over the past years, a success of the politicalplatform and the Rectangular Strategy – Phase III of the Cambodian Governmentled by Prime Minister Hun Sen.
Despite the unstable global economic situation,Cambodia has sustained fast economic growth at 7.7 percent on average over thelast two decades, which is reflected in the expansion of industry, textile-garment,construction, agriculture, tourism and real estate.
Cambodian people’s living standards haveimproved dramatically, with the poverty rate dropping from 53.5 percent in 2004to 13 percent in 2016.
To achieve this, the country has carried out itsmacro-economic policy in a prudent manner to keep stable economic growth, boosteconomic diversification and competitiveness, and promote domestic productionand consumption.
Many global economic organisations haveprojected further positive growth for Cambodia. The World Bank predicted thatthe economy is likely to grow by 7 percent in 2018 and 2019.
Tourism is one of the highlights of theCambodian economy. With many places of interest like the Angkor Wat templecomplex, Preah Vihear Temple and the Sambor Prei Kuk archaeological site, theSoutheast Asian nation has become a popular destination for internationalvisitors. The Ministry of Tourism reported that in the first four months of thisyear, Cambodia welcomed more than 2.2 million foreign arrivals, up 13.5 percentfrom a year earlier.
Peace, political stability and security havehelped the country continue to gain major accomplishments in development andimprove people’s living standards.
Amid global and regional changes, the Cambodian governmenthas persisted with its foreign policy of neutrality and non-alignment, greatlyhelping protect its national territory, sovereignty and interests and developingthe country.
Cambodia is an active member of many regionalcooperation mechanisms such as the Mekong River Commission, theCambodia-Laos-Vietnam Development Triangle Area and the Greater MekongSubregion.
The country has trade relations with about 150countries and territories around the world and is expanding cooperation withmajor countries and development partners. It is also working to strengthen tieswith neighbouring countries.
At campaigning activities ahead of the generalelection slated for later this month, Prime Minister Hun Sen, leader of theruling Cambodian People’s Party, has called on people to join hands indeveloping and protecting the country.-VNA
VNA
