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Cambodia: North-eastern provinces to be set up as fifth economic pole
Cambodia’s agro-industry development may focus on setting up the northeastern provinces as the country’s fifth economic pole to promote the conversion of raw agricultural materials into value-added products and stimulate economic growth.
This was revealed by Prime Minister Hun Sen in a closing annual meeting on reviewing works in 2022 and set objectives in 2023 of the Ministry of Agriculture, Forestry, and Fisheries on Friday.
Cambodia’s current economic poles are Phnom Penh, Preah Sihanouk province, and Siem Reap province. Recently, the government has announced a group of provinces – including Pursat, Battambang, Banteay Meanchey and Pailin as fourth economic poles.
“I hope that we will be able to establish the fifth economic pole in the north-east part of the country, including Kratie, Stung Treng, Ratanakiri, and Mondulkiri provinces, focusing on the agri-industry sector as core development,” the Prime Minister said.
The economic poles are simultaneous, coordinated investments in many sectors to support self-sustaining industrialization in a country.
“The establishment of the economic pole is expected to strengthen border trade partnerships and stimulate economic growth in the region,” he said.
Senior economist Ky Sereyvath, director-general of the Institute of China Studies at the Royal Academy of Cambodia, said that the economic pole provides support to various sectors in business and commerce.
“Establishing the economic poles is important because the government is paying attention to the competitive advantage of the designed provinces,” Sereyvath said on March 14.
In February, the premier announced that the government has planned to establish the fourth economic pole based on “fish and rice” potential in Cambodia’s north-western provinces.
This is in line with the Cambodia-China initiative of establishing a ‘Fish and Rice Corridor’ centred on north-western Cambodia and the Tonle Sap Lake area and to develop modern ecological agriculture near the lake.
It will accelerate the planning of Cambodia’s modern agriculture development, explore cooperation in digital agriculture, and support the upgrading of Cambodia’s aquaculture, tropical plantation, and other competitive sectors.
Source: https://www.khmertimeskh.com/501262573/north-eastern-provinces-to-be-set-up-as-fifth-economic-pole/