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

  • ‘Kingdom one of safest to visit in Covid-19 era’

    The Ministry of Tourism on January 12 proclaimed Cambodia as one of the safest countries to visit in light of the Kingdom having been ranked number one in the world by the Senegalese Economic Prospective Bureau for its success in handling the Covid-19 pandemic. In rankings

  • Kingdom accepts Chinese vaccine, PM first to get jab

    Prime Minister Hun Sen said China would offer Cambodia an immediate donation of one million doses of the Covid-19 vaccine produced by the Sinopharm company. In an audio message addressing the public on the night of January 15, he said Cambodia has accepted the offer and

  • Reeling in Cambodia’s real estate sector

    A new norm sets the scene but risks continue to play out in the background A cold wind sweeps through the streets of Boeung Trabek on an early January morning as buyers and traders engage in commerce under bright blue skies. From a distance, the

  • Hun Sen: Lakes filled in for national developments

    Prime Minister Hun Sen has announced continued operations to fill some lakes in Phnom Penh to create land for developments, though he is against the unrelated practice of damming rivers or blocking waterways. Speaking at the inauguration of the Ministry of Public Works and Transport

  • Koh Preus upgrades 70% complete

    Initial construction of a nearly $30 million tourism infrastructure project on Preah Sihanouk province’s Koh Preus Island is “about 70 per cent complete”, according to an official with the developer. Heng Thou, construction site manager of Angela Real Estate Co Ltd (ARE), told The Post that

  • Local media loses a giant, and The Post a great friend

    Cheang Sokha, a gifted and streetwise reporter who rose to the highest ranks of Cambodian media and was beloved for his sharp intelligence, world-class humour and endless generosity, died on Friday in his hometown of Phnom Penh. He was 42. His wife, Sok Sophorn, said he