​‘Developed’ by 2050: PM | Phnom Penh Post

‘Developed’ by 2050: PM

National

Publication date
07 June 2013 | 03:01 ICT

Reporter : Phak Seangly

More Topic

Following recent speeches praising Cambodia’s stability under his leadership, Prime Minister Hun Sen took to the podium yesterday to gaze into the Kingdom’s future prospects for development and growth.

“Step-by-step from a country that has experienced both war and peace, we have achieved excellent development to this point,” he said in a speech in Prey Veng province, while inaugurating a university.

This year would see Cambodia move from a low-income to a lower-middle-income nation, Hun Sen claimed, before outlining future development goals.

“We are looking to 2030 for when we become an upper-middle-income nation, and towards 2050 for when Cambodia turns into a developed country,” he said.

The World Bank classifies economies as low-income if they have a gross national income (GNI) per capita of $1,025 or less, lower-middle income for a GNI of $1,026-$4,035 and upper-middle income for $4,036-$12,475.

According to World Bank data, Cambodia’s GNI per capita was $820 in 2011.

Avoiding the “middle-income trap” – in which developing economies struggle to compete with the exports of low-cost manufacturing nations and high-tech developed nations – would be crucial for Cambodia, Hun Sen said.

“The development of human resources is a priority . . . No country manages to develop without strong human resources,” he said, adding that the Kingdom would need to create a highly skilled “knowledge economy”.

“Myself and other leaders may not survive until 2050. But we must prepare our vision.”

Contact PhnomPenh Post for full article

SR Digital Media Co., Ltd.
'#41, Street 228, Sangkat Boeung Raing, Khan Daun Penh, Phnom Penh, Cambodia

Tel: +855 92 555 741

Email: [email protected]
Copyright © All rights reserved, The Phnom Penh Post