Gov’t eyes industrial expansion
In search of Cambodia’s next economic growth driver, the government on 26 August laid out the Cambodia Industrial Development Policy 2015-2025, which aims to expand the Kingdom’s narrow industrial base beyond garments and rice.
The new policy, launched by Prime Minister Hun Sen at the Peace Palace in Phnom Penh, will look to beef up the gross domestic product share of the industrial sector to 30 per cent by 2025, from the 24.1 per cent recorded in 2013.
Additionally, it will increase agriculture processing in Cambodia and aims to formally register the small and medium enterprises sector, while addressing high electricity costs and logistical and skilled labour shortages.
“The key drivers of economic growth, such as rice, garment and tourism sector, have reached their highest potential of growth,” Hun Sen said.
