Logo of Phnom Penh Post newspaper Phnom Penh Post - Business climate gets low marks

Business climate gets low marks

Business climate gets low marks

CAMBODIA was ranked behind most other Southeast Asian nations in a UN survey of global economic competitiveness released Monday, which found that more investment was needed in skills training for the Kingdom's workforce.

The report coincided with two other joint studies from the World Bank, Asia Foundation and International Finance Corporation (IFC), which concluded that Cambodia needed to improve its business climate.

"Increasing Cambodia's competitiveness is a necessity, not a choice, if the country is to sustain economic growth, reduce poverty and keep pace with its ASEAN neighbours," the report by the UN Development Programme said.

Phnom Penh was ranked behind all 23 provincial capitals in the Provincial Business Environment Scorecard, which was produced by the Asia Foundation and IFC. Kampong Cham was ranked at the top for ease of doing business.

"There are some excuses, but it is crucial that Phnom Penh does see some improvements in the business environment," said Veronique Salze-Lozac'h, regional director of economic programs for The Asia Foundation. The World Bank study found corruption to top the list of obstacles to business.

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