Logo of Phnom Penh Post newspaper Phnom Penh Post - ‘Developed’ by 2050: PM

‘Developed’ by 2050: PM

‘Developed’ by 2050: PM

Following recent speeches praising Cambodia’s stability under his leadership, Prime Minister Hun Sen took to the podium yesterday to gaze into the Kingdom’s future prospects for development and growth.

“Step-by-step from a country that has experienced both war and peace, we have achieved excellent development to this point,” he said in a speech in Prey Veng province, while inaugurating a university.

This year would see Cambodia move from a low-income to a lower-middle-income nation, Hun Sen claimed, before outlining future development goals.

“We are looking to 2030 for when we become an upper-middle-income nation, and towards 2050 for when Cambodia turns into a developed country,” he said.

The World Bank classifies economies as low-income if they have a gross national income (GNI) per capita of $1,025 or less, lower-middle income for a GNI of $1,026-$4,035 and upper-middle income for $4,036-$12,475.

According to World Bank data, Cambodia’s GNI per capita was $820 in 2011.

Avoiding the “middle-income trap” – in which developing economies struggle to compete with the exports of low-cost manufacturing nations and high-tech developed nations – would be crucial for Cambodia, Hun Sen said.

“The development of human resources is a priority . . . No country manages to develop without strong human resources,” he said, adding that the Kingdom would need to create a highly skilled “knowledge economy”.

“Myself and other leaders may not survive until 2050. But we must prepare our vision.”

MOST VIEWED

  • Wing Bank opens new branch in front of Orkide The Royal along Street 2004

    Wing Bank celebrates first anniversary as commercial bank with launch of brand-new branch. One year since officially launching with a commercial banking licence, Wing Bank on March 14 launched a new branch in front of Orkide The Royal along Street 2004. The launch was presided over by

  • Siem Reap airport to close after new one opens

    After the new Siem Reap-Angkor International Airport (SAI) opens in October, the existing complex serving the northwestern province will be “completely closed”, according to State Secretariat of Civil Aviation (SSCA) spokesman Sin Chansereyvutha. SAI developer Angkor International Airport Investment (Cambodia) Co Ltd (AIAI) last month

  • Girl from Stung Meanchey dump now college grad living in Australia

    After finishing her foundational studies at Trinity College and earning a Bachelor’s degree from the University of Melbourne in 2022, Ron Sophy, a girl who once lived at the Stung Meanchey garbage dump and scavenged for things to sell, is now working at a private

  • Rare plant fetches high prices from Thai, Chinese

    Many types of plants found in Cambodia are used as traditional herbs to treat various diseases, such as giloy or guduchi (Tinospora cordifolia) or aromatic/sand ginger (Kaempferia galangal) or rough cocklebur (Xanthium Strumartium). There is also a plant called coral, which is rarely grown

  • Ministry using ChatGPT AI to ‘ease workload’; Khmer version planned

    The Digital Government Committee is planning to make a Khmer language version of popular artificial intelligence (AI) technology ChatGPT available to the public in the near future, following extensive testing. On March 9, the Ministry of Post and Telecommunications revealed that it has been using the

  • Cambodia returns 15M Covid jabs to China

    Prime Minister Hun Sen said Cambodia will return 15 million doses of Covid-19 vaccines to China for donation to other countries. The vaccines in question were ordered but had not yet arrived in Cambodia. While presiding over the Ministry of Health’s annual meeting held on