Cambodia : A Country in Transition

Cambodias economy was one of the fastest growing in the world during 19992019, with an average growth rate of more than 7.5 percent per annum. It was driven by garment exports, agriculture, construction, and tourism. The government is keen to make Cambodia a technology driven, upper middle-income country by 2030. Cambodia has made remarkable progress in economic growth and poverty reduction. Growth has also been inclusive. But, an uncertain global trading environment and increased competition regionally means that Cambodia cannot continue to rely on its past sources of growth. The upgrading and diversification of the economy, including through services and manufacturing, is the need of the future. In 2020, Cambodias economy has been hit hard by the global COVID-19 outbreak. Rebounds in economic activity in China and in other major world markets can only improve Cambodias growth prospects. This book is an attempt to provide an insight into the transition processes that have been taking place in Cambodia, an increasingly important member of ASEAN, during the last three decades.