Cambodia
Cambodia: A Gateway to ASEAN’s 600 Million Consumers?
Selling Cambodia, a country known for its killing fields, landmines and chronic poverty, is a tough job. But Chanthol Sun, minister for commerce, says it’s very easy when “you talk from the heart.”
Selling Cambodia, a country known for its killing fields, landmines and chronic poverty, is a tough job. But Chanthol Sun, minister for commerce, says it’s very easy when “you talk from the heart.” The 59-year-old, U.S.-educated, former General Electric executive points out that Cambodia has a lot to offer to international investors: political and macroeconomic stability, a pro-business government, competitive investment incentives and a great location.
Referring to the people of Cambodia as his “shareholders,” Sun says, “They have suffered long enough. It’s time for Cambodia to grow … it’s time to for us to move forward.”
Born in 1956, in Koh Thom district in the Kandal province, Sun lost his mother and brother to the Khmer Rouge. The rest of his family escaped to Thailand. In 1973, Sun went to the U.S. with $50 in his pocket. He returned to Cambodia in 1994 and helped set up the Council for the Development of Cambodia. Elected to the Cambodian National Assembly in 2003, he was the minister for public works and transport from 2004 till 2008. In September 2013, he took on his current responsibilities as minister of commerce.
Source: Cambodia: A Gateway to ASEAN’s 600 Million Consumers?
Asean
CLMV economies Outlook by EIC Q1/2021
Within the region, Vietnam’s economy is projected the fastest growth due to ongoing strong exports performance for electronics products and a resilient domestic economy.
The global recession and COVID-19 pandemic heavily affected CLMV economies in 2020, resulting in major slowdown in Vietnam and Myanmar whereas Laos and Cambodia faced economic contractions from additionally specific negative factors.
Cambodia
CLMV’s economic growth crashes to two-decade low due to COVID-19
The COVID-19 crisis has caused the rate of economic growth in the CLMV bloc to be at its lowest in two decades, the CLMV economies could grow at 3.4 percent this year
The COVID-19 pandemic is having a negative impact on CLMV economies through their dependency on foreign-sourced revenue from tourism and exports says KResearchCenter.
Cambodia
Cambodia’s aid and investment affair with China
China is Cambodia’s biggest aid provider and Chinese investors hold almost a quarter of Cambodia’s total FDI stock. Distinguishing Chinese aid from investment is difficult, but there is no doubting China’s huge economic impact in Cambodia.
The debate about China’s rapidly growing global investment and development financing footprint has focused on deciphering Chinese intentions — whether China aims to revise or maintain the US-led ‘liberal international order’.
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