Cambodia in 2017 –Stronger on the Global Stage


October 24, 2017

Cambodia in 2017 –Stronger on the Global Stage

http://www.gmipost.com/special-feature/53/cambodia-2017.html

Image result for Panoramic Phnom Penh today

The portion in front of the palace was used for watching boat races during the Water Festival. The Foreign Correspondents’ Club of Cambodia is located in this district. The quay is a 3km strip filled with vendors, locals, tourists and are lined with hotels, restaurants, bars, cafes and shops.–Phnom Penh, Cambodia

 Image result for the independence monument phnom penh

Statue of His Majesty King Norodom Sihanouk in Phnom Penh

Having shed its image as a strife-ridden country, the Kingdom of Cambodia has made great strides in building a bright, sustainable future for its people. Made up of a population of 15 million, half of which are under 25 years old, Cambodia’s demographics present the perfect condition to speed up economic growth.

Growing at an average of seven percent during the last two decades, Cambodia already boasts one of the fastest growing economies in the world. Analysts remain optimistic about the country’s ability to sustain its growth, particularly in tourism, garment manufacturing, construction and property development.

Image result for Hun Sen at WEF, May, 2017 in Phnom Penh

Prime Minister HE Samdech Techo Hun Sen played host to The World Economic Forum on ASEAN, May 10-12, 2017

Prime Minister Hun Sen, whose ruling party secured a fresh mandate in elections earlier this year, has continued to enact measures aimed at boosting Cambodia’s economic competitiveness within ASEAN and the rest of the world.

In May, Cambodia hosted the 26th World Economic Forum on ASEAN. With the theme “Youth, Technology and Growth: Securing ASEAN’s Digital and Demographic Dividends”, the WEF event, held in the bustling capital Phnom Pehn, was attended by more than 700 leaders from business, government, academe and civil society from around the world.

The event, according to the Cambodian government, was “an opportunity to raise Cambodia’s international profile and enhance its national prestige” and “contribute to the promotion of investment opportunities and tourists to the Kingdom”.

Justin Wood, the head of the World Economic Forum Pacific Region, praised Cambodia for boosting economic growth and reducing poverty in the country.

“There is a different story to be told about Cambodia. We want the world to understand a bit more about what is happening in Cambodia,” Wood said.

Setting the Foundations

As Cambodia pursues its growth strategy, the government recognizes that it needs to attract more investment in various vital sectors, particularly in infrastructure and education. At the heart of this plan is Minister of Public Works and Transport Sun Chantol, who was also Minister of Commerce.

“The government recognizes the critical importance of a healthy, efficient and cost-effective national infrastructure to expedite trade and lower transportation costs overall. Trade moves through different modes of transport, by sea, rivers, by airfreight, rail and road, and the respective networks continue to be rehabilitated, built and expanded,” Chantol explained.

In line with the WEF forum’s theme, Cambodia has stepped up efforts to make its graduates more competitive in the global market.

Related image

The University of Cambodia, one of the kingdom’s largest private universities, is a key contributor to this renaissance in education.

Founded in 2003 by Dr. Kao Kim Hourn, UC can accommodate 10,000 students and stands as a leader in business and entrepreneurship education. In 2017, the university named its business school after AirAsia Group CEO Tony Fernandes, arguably the best-known Southeast Asian entrepreneur.

 

Image result for Dr.Kao Kim Hourn

In a ranking of business schools last year, the University of Cambodia was cited for possessing a “strong regional influence.”

“As we continue to build the capabilities and reach of this university, we are actively looking to forge partnerships internationally because exchanges are critical to our growth,” Dr. Kao stressed.

2 thoughts on “Cambodia in 2017 –Stronger on the Global Stage

  1. Cambodia is forging ahead in peace, stability and development. The effects of progress are widespread and should continue as pro-business policies take hold. Tourism, construction, agricultural production and garment manufacturing are the main drivers of GDP growth. –Din Merican

  2. This wonderful story must be read in conjunction with what the former Secretary General of ASEAN said recently in KL on the future of Governance in ASEAn

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.