Cambodia Condemns Thai Military Attack on Preah Vihear Temple | Cambodia Confirms Troops Still Holding Mount Trop as Thailand Cannot Raise Flag on Sovereign Territory | Cambodia and Thailand Clashes Enter Third Day as Casualties Rise to 33 | UN Security Council Urges Restraint as Thailand-Cambodia Clashes Intensify | Cambodia Condemns Thai Aggression at UN, Calls for Ceasefire and International Intervention | Techo Hun Sen Advises Military Strategy Amidst Border Clashes with Thailand | 45 Staff Rescued After Being Trapped at Preah Vihear Temple Amidst Clashes | BREAKING: Cambodia Denies Firing Projectiles into Laos, Accuses Thailand of Disinformation | Cambodia's Tourism Ministry Seeks Aid for Troops, Refugees; Reaffirms Commitment to Peace | BREAKING: Laos Denies Border Clash with Cambodia; Cambodia Rejects Thai Accusations of Shelling Laos | BREAKING NEWS: Andrew MacGregor Marshall Claims Queen Mother Sirikit Has Died, Alleging Concealment by Thai Authorities | TOP NEWS: Trump Claims Diplomatic Role in Cambodia-Thailand Border Conflict, Calls for Ceasefire | TOP NEWS: Cambodian Prime Minister Confirms President Donald Trump Ceasefire Agreement with Thailand | Thai Military of Escalating Attacks, Despite Cambodia Ceasefire Efforts | BREAKING NEWS: Cambodia and Thailand Agree to Malaysian Mediation Amid Escalating Border Clashes | Ministry of Education Announces Postponement of 2025 Baccalaureate Examination | Cambodian Community in Korea Holds Mass Protest Against Thailand’s Invasion | Techo Hun Sen: “In Times of National Crisis, We Have No Right to Rest or Fall Ill” | UN Secretary-General and Cambodian Officials Call for Immediate Ceasefire Amid Border Clashes | Lieutenant General Duong Samnieng Dies Fighting Thai Invaders at Preah Vihear |
Cambodia Condemns Thai Military Attack on Preah Vihear Temple | Cambodia Confirms Troops Still Holding Mount Trop as Thailand Cannot Raise Flag on Sovereign Territory | Cambodia and Thailand Clashes Enter Third Day as Casualties Rise to 33 | UN Security Council Urges Restraint as Thailand-Cambodia Clashes Intensify | Cambodia Condemns Thai Aggression at UN, Calls for Ceasefire and International Intervention | Techo Hun Sen Advises Military Strategy Amidst Border Clashes with Thailand | 45 Staff Rescued After Being Trapped at Preah Vihear Temple Amidst Clashes | BREAKING: Cambodia Denies Firing Projectiles into Laos, Accuses Thailand of Disinformation | Cambodia's Tourism Ministry Seeks Aid for Troops, Refugees; Reaffirms Commitment to Peace | BREAKING: Laos Denies Border Clash with Cambodia; Cambodia Rejects Thai Accusations of Shelling Laos | BREAKING NEWS: Andrew MacGregor Marshall Claims Queen Mother Sirikit Has Died, Alleging Concealment by Thai Authorities | TOP NEWS: Trump Claims Diplomatic Role in Cambodia-Thailand Border Conflict, Calls for Ceasefire | TOP NEWS: Cambodian Prime Minister Confirms President Donald Trump Ceasefire Agreement with Thailand | Thai Military of Escalating Attacks, Despite Cambodia Ceasefire Efforts | BREAKING NEWS: Cambodia and Thailand Agree to Malaysian Mediation Amid Escalating Border Clashes | Ministry of Education Announces Postponement of 2025 Baccalaureate Examination | Cambodian Community in Korea Holds Mass Protest Against Thailand’s Invasion | Techo Hun Sen: “In Times of National Crisis, We Have No Right to Rest or Fall Ill” | UN Secretary-General and Cambodian Officials Call for Immediate Ceasefire Amid Border Clashes | Lieutenant General Duong Samnieng Dies Fighting Thai Invaders at Preah Vihear |

PM Predicts 1% Bump in Economic Growth for 2024

PHNOM PENH: On the morning of November 23, the Cambodia Development Resource Institute (CDRI) hosted the conference “Cambodia Vision 2030 and Beyond: Charting a Path for Resilient, Sustainable and Inclusive Prosperity.” Prime Minister Hun Manet presided over the conference where he detailed his administration’s economic goals.

The PM said that with a focus on current priority policies and the implementation of measures set out in the past, he expects the Cambodian economy to grow by 5.6% this year. He expects a growth rate of 6.6% for 2024.

While he holds high hopes, he also mentioned the possible pitfalls that could deter the government from its economic goals.

"Certainly, this growth outlook may face some risks, as the current situation is highly uncertain. In this sense, Cambodia must adhere to the spirit of regular and proactive reform, trying to build resilience and promote economic diversification," he said.

Over the last twenty years, Cambodia has achieved strong and sustainable economic growth at an average rate of about 7% per year. Cambodia thus achieved low-middle-income status in 2015. Meanwhile trade volume via domestic production has increased nearly tenfold from $3.1 billion in 1998 to $29.6 billion in 2022.

The Prime Minister also said that the poverty rate had fallen below 10% before the Covid-19 crisis. He said that with social conflict diminishing, the economic structure has shifted from a traditional agricultural economy to a value-added industry and service economy.

He reminded the crowd about his father’s Win-Win Policy of 1998, when former Prime Minister Hun Sen allowed Khmer Rouge defectors to join the government. Prime Minister Hun Manet said this built a strong economic base for development in the market economy system.

He then laid out his administration’s five priorities starting with international trade based on the principles of multilateralism; second, to attract foreign direct investment for building new infrastructure to support economic growth; third, the strengthening of solid infrastructure to improve connectivity, facilitate mobility of resources and manpower, and deploy production bases; fourth, the continued development and promotion of human capital to participate in economic activities and increase productivity; and fifth, regular institutional and governance reforms to ensure their ability to manage the political, economic and financial systems.



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