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Cambodia unveils National Policy Framework for Economic Productivity
Phnom Penh recently announced the implementation of the National Policy Framework for Cambodia’s Economic Productivity 2022-35 to raise the potential of investment and trade and improve national economic productivity, according to Aun Pornmoniroth, minister of economy and finance and chairman of the National Committee for Economic Productivity of Cambodia.
During the official launch ceremony, Pornmoniroth said the socio-economic policy framework aims at achieving economic security and well-being of the people by raising income, support the needs of the nation, address the challenges and risks of disruption in the global supply chain and energy insecurity by increasing access and capacity.
The nation aims to achieve a high value-added economy by improving the competitiveness of Cambodia’s production, services, trade and investment, he was quoted as saying by Cambodian media reports.
He said the Cambodian National Productivity Framework has set the vision to build and enhance national economic productivity, based on a highly skilled and innovative workforce, to promote better socio-economic development, and strengthen economic security and social welfare.
When the framework is fully implemented, the country’s economy will improve, products will see more value addition, production and services will improve, and the country will be better connected to regional and global economies.
The framework will also lead to Cambodia having increased income and the ability to improve livelihoods, attract high value-added investment, reduce poverty and lower the cost of providing public services to the people, he said.
The external demand and the domestic economy’s return to normalcy will give a big boost to economic expansion, said a summary report of the ministry.
The foreign exchange reserve would increase to $22.14 billion, the report added. Fibre2Fashion
Source: https://www.khmertimeskh.com/501181261/cambodia-unveils-national-policy-framework-for-economic-productivity/