Logo of Phnom Penh Post newspaper Phnom Penh Post - Export moves: PM urges diversified exports

Export moves: PM urges diversified exports

Export moves: PM urges diversified exports

PRIME Minister Hun Sen has urged Cambodia to diversify its export markets in the wake of the financial crisis, but said the coming year bodes well for the Cambodian economy.

“2011 is the year that we strive to help the economy recovery and the poverty rate drop,” he said at a graduation ceremony at the National Institute of Education in Phnom Penh on Monday.

The premier also encouraged policy and decision makers to look at the possibilities of exporting to new markets.

“We turn to face outside [markets],” he said. “Before this, we basically turned outside toward the USA and Europe. Now we continue to turn to outside [markets] by two main activities.

“First, we have to  maintain and extend our existing American and European markets. Secondly, we have to arrange activities in other markets besides the US and Europe – there are markets in Asian countries and Africa as well.”

Cambodian Economic Association president Chan Sophal said the Kingdom is on the right track for economic growth, pointing to an increasing agricultural sector.

The economy could grow by more than the five or six percent most experts predict, he said, pointing to increased amount of land titling as unlocking loan potentia for start-up businesses.

MOST VIEWED

  • All inbound flights set to face added scrutiny

    Ministry of Health spokesperson Or Vandine said on Monday that the ministry is monitoring all inbound flights, after it was announced that only those from Malaysia and Indonesia will be temporarily cancelled from August 1. Vandine said on Monday that the two countries were identified as

  • Flights from Indonesia, Malaysia cancelled

    A Ministry of Health official has warned of the possibility of Covid-19 spreading through community transmission after the total infected cases in the Kingdom rose to 225. Ministry spokeswoman Or Vandine told reporters on Saturday that the possibility of community transmission cannot be overlooked and that

  • Man in quarantine dies of ‘overdose’

    The Ministry of Health on Thursday said a Cambodian migrant worker who died while being isolated at a quarantine centre in Tbong Khmum province’s Kroch Chhmar district may have died from syncope or overdose of tablets. In a statement, the ministry said the 21-year-old