Friday, November 27, 2009
Reference: UN points to Cambodia weakness in garment sector, Bangkok Post, November 28, 2009
In a UN sponsored report, Cambodian economist Sophal Chan and his team identified weaknesses and opportunities in Cambodia's economy that may be used as a road map for economic development. The report identifies the agriculture sector as the near term engine of economic growth and calls for converting forest lands to farmland, increasing productivity by adopting new crop strains and farming methods, and being responsive to changes in the global marketplace for agricultural products. The report also finds that ready made garments and tourism, the current mainstays of the economy, are not competitive and therefore the goal for the longer term should be to make significant improvements in these areas as well as to diversify into other service and value added manufacturing areas listed by the authors. The recent dog and pony show by a certain high profile foreigner on how Cambodians can "make money" stands in comical contrast to this rational and well grounded analysis by Cambodia's own home grown economists.