Everand Logo

Welcome to Everand!

  • Discover millions of ebooks, audiobooks, and so much more with a free trial

    Only $11.99/month after trial. Cancel anytime.

    Cambodia: Diversifying Beyond Garments and Tourism
    Cambodia: Diversifying Beyond Garments and Tourism
    Cambodia: Diversifying Beyond Garments and Tourism
    Ebook430 pages3 hours

    Cambodia: Diversifying Beyond Garments and Tourism

    By Asian Development Bank

    ()

    Read preview

    About this ebook

    Cambodia has enjoyed over two decades of robust growth, with rising foreign investment and deepening integration into global and regional value chains. The country---once riven by civil war and conflict---is now politically stable and increasingly making its mark as the world's eighth-largest rice producer, Asia's 10th largest garment exporter, and a rising tourist destination. Yet Cambodia faces considerable challenges. It suffers from major infrastructure deficits; limited skills development and education quality; and weaknesses in governance. Fiscal resources are also stretched. Moreover, for a successful transition to a modern industrialized economy, Cambodia needs to diversify and upgrade its productive capabilities. This publication examines the opportunities and the challenges, and offers recommendations for long-term socioeconomic strategy.
    LanguageEnglish
    PublisherAsian Development Bank
    Release dateNov 1, 2014
    ISBN9789292548087
    Cambodia: Diversifying Beyond Garments and Tourism

    Read more from Asian Development Bank

    Related to Cambodia

    Related ebooks

    Economics For You

    View More
    View More

    Related podcast episodes

    Related articles

    • Article

      Hunger In Africa: Problems And Solutions

      Jul 30, 2021

      The views expressed in our weekly opinion piece do not necessarily reflect those of Farmer’s Weekly. This article is an edited excerpt from the Food and Agriculture Organization of the United Nations’ report titled ‘The State of Food Security and Nut

      5 min read

    • Article

      Koos Bekker’s Billions

      Nov 25, 2022

      SOURCE: ORIGINALLY PUBLISHED IN THE PENGUIN POST, A MAGAZINE ABOUT BOOKS FOR BOOK LOVERS, FROM PENGUIN RANDOM HOUSE SOUTH AFRICA. “Naspers is this century’s biggest business story, certainly for South Africans. One astute investment in a Chinese tech

      2 min read

    • Article

      Kiwifruit: South Africa’s Golden Opportunity

      Feb 11, 2022

      If there is one ‘Made in China’ product that is exciting consumers the world over, it’s Chinese gooseberries, also known as kiwifruit. But perhaps it’s more accurate to say that the fruit originated in that country. While China may be the biggest pro

      5 min read

    • Article

      Tanzania Is Ahead Of Schedule

      Oct 1, 2020

      Since 2015, the Tanzanian Fifth Phase Government, under reform-minded President Dr John Pombe Magufuli, has set an ambitious industrialisation agenda in pursuit of the goals articulated in its National Development Vision 2025. To achieve that, and in

      5 min read

    • Article

      McDonald's Bans Large And Medium Fries In Japan: Supply Chain Issue, Or Clever Marketing Ploy?

      Jan 11, 2022

      Fast food giant McDonald's has again halted sales of large and medium-sized portions of French fries in Japan, citing problems in its supply chain, although fans have been quick to share a workaround. The solution for anyone who cannot go without a f

      3 min read

    • Article

      ■ The Era Of Globalisation Is Not Over

      Jul 22, 2022

      Globalisation has been a boon for the world’s poorest people, says Martin Wolf in the Financial Times. “Between 1980 and 2019... the share of the world’s population in extreme poverty fell from 42% in 1981 to just 8.6% in 2018”. Since the 2008 financ

      1 min read

    • Article

      Land The Facts

      Oct 9, 2022

      1% Just 1% of farms control over 70% of the world’s agricultural land.1 >80% of all farms (almost 500 million farmers) are under 2 hectares: • covering12% of farmland2• producing⅓ of food3 2.5bn people rely on collective tenure rights for their livel

      1 min read

    • Article

      A Recovery Plan

      Jan 16, 2021

      Q. What are the three key measures you would like to see in the Union budget that will drive growth, given that the economy is in recession? A. ADITI NAYAR: Prioritisation of capital expenditure, especially projects already identified in the Natio

      16 min read

    • Article

      Cloud Diplomacy Dispels Dark Cloud of COVID-19 Challenges

      Jul 30, 2020

      While the trajectory of the novel coronavirus disease (COVID-19) pandemic and its economic and political fallout remain unclear, it can be outlined that the pandemic has posed unprecedented political and social challenges, ratcheted up the risk of a

      11 min read

    • Article

      East Africa's Tide Of WEALTH

      Sep 30, 2022

      OVER THE LAST decade, five East African nations have seen a netpositive growth in total wealth, according to figures irom New World Wealth. Leading the pack are Rwanda (60%), Ethiopia (52%) and Uganda (50%). Delving deeper into this picture, Kenya, a

      9 min read

    • Article

      The Roots of Entrepreneurial Success

      Jan 1, 2020

      You have been involved in start-ups for many years as a founder, co-founder and Chief Technology Officer. In your experience, does entrepreneurship demand specific traits, or can anyone with a great idea do it? I don’t subscribe to the idea that it t

      6 min read

    • Article

      Economy

      Jun 22, 2023

      Sectors dedicated to technological innovation or key industrial chains will enjoy personalized tax and fee cuts, alongside a further optimization of current favorable tax policies, according to a circular issued on June 13 by four departments, includ

      3 min read

    • Article

      Agriculture Alone Cannot Address The Youth Unemployment Crisis

      Mar 26, 2021

      Africa remains the youngest continent in the world, with almost 60% of its population under the age of 25. With much of this population set to enter the labour market over the coming decade, this scenario has been viewed as an immense opportunity, bu

      3 min read

    • Article

      Flooding - Can We Ease The Pressure?

      Jul 20, 2022

      With heavy rains becoming more prevalent and authorities under pressure to build more homes, how do developers make building on floodplains less of an issue? In the last 40 years, rainfall has steadily increased in the UK and the number of properties

      3 min read

    • Article

      Bringing The Fifth Industrial Revolution To The South

      Dec 8, 2022

      Connectivity is one of the keys to global development, and a crucial threshold for granting the South access to the Fifth Industrial Revolution. Many governmental, nongovernmental and even private enterprises are working together to improve global co

      5 min read

    • Article

      AI Guest Editor Genevieve

      May 19, 2023

      Welcome to our artificial intelligence edition. This time around we worked with special guest editor Genevieve Stanley. Genevieve (French meaning ‘race of women’) however, is not real. She was created on the AI Platform MidJourney which, together wit

      1 min read

    • Article

      COP26 And The Debate Africa Cannot Afford To Defer

      Dec 1, 2021

      THIS YEAR HAS brought with it a renewed sense of urgency for climate change. A host of reports released this year have indicated that the prognosis for the planet is rather grim. Last year, temperatures were around 1.02°C warmer. These extreme temper

      3 min read

    • Article

      We Contribute To The People In The World With Our Agritechnology And Sincerity

      Jul 23, 2021

      Buoyed by their technological and manufacturing prowess, Japanese companies have positioned themselves at the forefront of the biggest global challenges of the 21st century. Two of the most unprecedented challenges of our time, climate change and foo

      2 min read

    Related categories

    Reviews for Cambodia

    0 ratings

    0 ratings0 reviews

    What did you think?

    Tap to rate

    Review must be at least 10 words

      Book preview

      Cambodia - Asian Development Bank

      CAMBODIA

      DIVERSIFYING BEYOND GARMENTS AND TOURISM

      COUNTRY DIAGNOSTIC STUDY

      Economics and Research Department November 2014

      © 2014 Asian Development Bank

      All rights reserved. Published in 2014.

      Printed in the Philippines.

      ISBN 978-92-9254-807-0 (Print), 978-92-9254-808-7 (e-ISBN)

      Publication Stock No. RPT146996-2

      Cataloging-in-Publication Data

      Asian Development Bank

                        Cambodia: Diversifying beyond garments and tourism.

      Mandaluyong City, Philippines: Asian Development Bank, 2014.

      1. Economic development.        2. Cambodia.         I. Asian Development Bank.

      The views expressed in this publication are those of the authors and do not necessarily reflect the views and policies of the Asian Development Bank (ADB) or its Board of Governors or the governments they represent.

      ADB does not guarantee the accuracy of the data included in this publication and accepts no responsibility for any consequence of their use.

      By making any designation of or reference to a particular territory or geographic area, or by using the term country in this document, ADB does not intend to make any judgments as to the legal or other status of any territory or area.

      ADB encourages printing or copying information exclusively for personal and noncommercial use with proper acknowledgment of ADB. Users are restricted from reselling, redistributing, or creating derivative works for commercial purposes without the express, written consent of ADB.

      In this report, $ refers to US dollars unless otherwise specified.

      Asian Development Bank

      6 ADB Avenue, Mandaluyong City

      1550 Metro Manila, Philippines

      Tel +63 2 632 4444

      Fax +63 2 636 2444

      www.adb.org

      For orders, please contact:

      Public Information Center

      Fax +63 2 636 2584

      adbpub@adb.org

      FOREWORD

      Cambodia’s economy has grown rapidly for more than 2 decades. The catalysts of growth have been strong performances in the key sectors of garments, agriculture, and tourism. Rising foreign investment, deeper integration in global value chains, and a stable macroeconomy have contributed to this performance.

      The Royal Government of Cambodia continues to implement reforms to sustain and build on these gains. And we are continuing to find ways to improve economic management, support job creation, enhance rural development, improve gender equality, and promote good governance. These are all geared toward achieving development which supports equity and efficiency. As a result, the gains from the economic expansion have been shared through higher household incomes and reduced poverty. We recognize that much has been achieved, but that much more is possible.

      We welcome this report and its key findings. It identifies the critical constraints to development as the need for better infrastructure, especially in the energy sector and rural areas; a shift up in the level of skills and education; and improvements in governance to enhance the business environment. We also appreciate the need to increase the collection of fiscal resources and improve the allocation of these resources to economic and social investments. We will review the report’s findings on the need to diversify and upgrade the economy’s productive activities as we develop our industrial strategy.

      The Royal Government of Cambodia is grateful for the timely conduct of the study. The ideas and findings in this report will certainly be useful in providing inputs to support and operationalize the Rectangular Strategy for Growth, Employment, Equity, and Efficiency, and our longer-term vision for the economy and society. We seek an agenda that enables Cambodia to continue to grow, reduce poverty, and allow all members of society to participate in, contribute to, and benefit from the growth progress.

      H.E. Dr. Aun Pornmoniroth

      Minister of Economy and Finance

      Chairman of the Supreme National Economic Council

      Royal Government of Cambodia

      PREFACE

      Cambodia is in the challenging process of economic transition as it seeks to move beyond low-skill, low-value activities and expand its industrial base to generate broad-based inclusive growth. As the Government of Cambodia continues to build on strong growth and address emerging challenges, this study supports Cambodia’s efforts to sustain growth and make it more inclusive. The study identifies the critical constraints to development: namely, the need for better infrastructure, especially in the energy sector and rural transport; higher skills and educational levels; and improved governance to enhance the business and investment environment. The study also recognizes the need for better collection and allocation of fiscal resources to meet growing demand for economic and social investment. A special section highlights the need to diversify and upgrade the economy’s productive activities as the country develops and transitions toward higher-value activities in global value chains.

      The study was conducted by a team from the Economic Analysis and Operations Support Division, under the direction of Cyn-Young Park, Assistant Chief Economist, Economics and Research Department, Asian Development Bank (ADB). Background papers were prepared by Michael Smiddy on industrial policy and Partha Banerjee on energy. The study team included Paul Vandenberg, Kee-Yung Nam, Maria Rowena Cham, Paulo Rodelio Halili, Lilibeth Poot, Emmanuel San Andres, Rhina Ricci Lopez-Tolentino, and Maria Melissa Gregorio. Contributing ADB consultants included Ma. Concepcion Latoja, Regina Baroma, Arlene Evangelio, Amador Foronda, Roger Mercado, Ronaldo Ico, Lyndree Malang, and Lotis Quiao. The study was edited by Jill Gale de Villa, Eric Van Zant, and Alastair McIndoe. Michael Cortes provided layout, cover design, and typesetting.

      In conducting the study, ADB consulted with representatives from government, the private sector, development partners, and research institutions on the approach and findings. The study team is grateful for the support provided by the Government of Cambodia. Special thanks go to Dr. Hang Chuon Naron, who, as Vice-Chair of the Supreme National Economic Council and Secretary of State, Ministry of Economy and Finance, helped initiate the study; and H.E. Ros Seilava, Under Secretary of State, Ministry of Economy and Finance and a member of the council. ADB is committed to continued partnership and dialogue with the government to support its efforts to reduce poverty and achieve inclusive growth. To this end, the work of ADB’s Cambodia Resident Mission is much appreciated for fostering collaboration with the government and other stakeholders. Peter Brimble, formerly Senior Country Economist, played an important role in this regard under the direction of Putu Kamayana, former Country Director, and his successor, Eric Sidgwick.

      The study team also thanks the speakers at consultation workshops in 2012 and 2013, including, along with those already mentioned, Enrique Aldaz-Carroll, Alessandra D’Amico, Senaka Fernando, Saing Chan Hang, H.E. Hunleng Hay, Muhammad Ehsan Khan, Srinivasa Madhur, Gordon Peters, Vathana Roth, and H.E. Sok Siphana. Briefings were held at ADB headquarters with colleagues from the Southeast Asia Department and the Economics and Research Department, including former Chief Economist Changyong Rhee and Deputy Chief Economist Juzhong Zhuang. Makiko Matsumoto, Sophorn Tun, and Sukti Dasgupta from the International Labour Organization contributed to the study through a parallel and joint study on employment in Cambodia. The feedback during these consultations provided valuable inputs to the analysis and recommendations. Special thanks go to ADB’s Rehan Kausar and Michael White, who provided comments on the energy and urban development sections, respectively.

      Shang-Jin Wei

      Chief Economist

      Economics and Research Department

      CONTENTS

      BOXES, FIGURES, AND TABLES

      BOXES

      FIGURES

      Enjoying the preview?
      Page 1 of 1