Logo of Phnom Penh Post newspaper Phnom Penh Post - Cambodia to remain among Least Developed Countries, for now

Cambodia to remain among Least Developed Countries, for now

Cambodia to remain among Least Developed Countries, for now

Cambodia is not expected to graduate from its Least Developed Country (LDC) status until after 2025, though it has made progress in furthering its development, a new report by a UN agency said.

The United Nations Conference on Trade and Development (UNCTAD) projected in its latest review of the world’s poorest nations, which it undertakes every three years, that the number of LDCs will fall from 48 to 32 by 2025. By that date, Cambodia will be the only Asian country to still hold the classification, it said.

The report gave a positive outlook on Cambodia’s improvements in education, citing the progress made through education sector support initiatives. It also noted that the Kingdom’s private sector has played an effective role in “diversifying . . . production and entering in high-technology global value chains”,

In a different ranking by the World Bank, Cambodia moved from a lower-income bracket to lower-middle-income status earlier this year, which is expected to result in a reduction of trade benefits for the country.

The UNCTAD report said the Cambodian government’s Rectangular Strategy Phase Three “aims at graduating from a low-income country to a lower-middle-income status in the very near future and further to become an upper-middle income country by 2030”.

Prime Minister Hun Sen expressed optimism in November that Cambodia was on track to make the transition by 2030, and to achieve high income status by 2050.

MOST VIEWED

  • Some jobs off limits to foreigners from August

    Beginning from the second week of August, foreigners will be banned from driving taxis and tuk-tuks, as well as being motorcycle delivery drivers, street food vendors, hairdressers and product distributors among other lower-income jobs. Some white-collar jobs such as the head of human resources will

  • Chinese-owned shops are on the rise in central Phnom Penh

    Informal businesses owned by Chinese nationals are on the rise in central Phnom Penh, especially in Tonle Bassac commune, surrounding Koh Pich. Such businesses have sprung up notably in Central Market, Orussey Market, Sovanna Shopping Mall, Rattana Plaza, as well as Kakab commune across from

  • Sihanoukville authorities find 83 rubbish-packed containers

    Eighty-three containers packed with rubbish were broken open at the Sihanoukville Autonomous Port by joint authorities on Tuesday. The origin of the containers has yet to be ascertained, Ministry of Environment spokesman Neth Pheaktra said. Pheaktra, who is also the ministry’s secretary of state,

  • ‘Cambodia Democracy Act’ passed by US House

    The US House of Representatives in Washington, DC, on Monday, passed the “HR 526 Cambodia Democracy Act”, also known as the Cambodia Democracy Act of 2019. If signed off by th US president, the bill would allow two major sets of action to be taken against high-ranking