Cambodia is working toward achieving its vision of attaining upper-middle-income status by 2030 in a resilient, inclusive and sustainable manner. The Kingdom has been aided in the process by support from the Australian embassy and its related development projects.
The Cambodia Australia Partnership for Resilient Economic Development (CAPRED) stated that Australia was collaborating with eminent Cambodian researchers at the Cambodia Development Resource Institute (CDRI) to explore key questions regarding the country’s economic growth, in a November 17 joint press release.
According to the statement, the “Cambodia Vision 2030: An Assessment of Cambodia’s Upper-Middle-Income Target for Resilient, Inclusive and Sustainable Growth” initiative was implemented in response to a government request to CDRI during the Cambodia Annual Outlook Conference (COC) in October 2022.
It aims to evaluate the country’s long-term growth potential and identify optimal policies for achieving sustainable growth.
The CDRI has conducted consultation workshops, engaging stakeholders from the government, development partners, business associations, research institutes and civil society. In addition to data collection and analysis, the institute is undertaking a comprehensive policy review and considering social impacts, such as gender participation and the environmental effects of growth, as per the joint statement.
“Cambodia was severely impacted by recent global crises, including the Covid-19 pandemic and the war in Ukraine. The study is crucial in demonstrating how Cambodia can recover and also surmount obstacles to its goal of achieving upper-middle-income status by 2030,” Australian ambassador Justin Whyatt stated.
Eng Netra, executive director of CDRI, commented on the country’s critical juncture in its long-term development transformation.
“As we navigate the complexities of a post-pandemic world, our commitment to thorough research and insightful policy evaluation is essential in charting our course,” she explained.
“Cambodia Vision 2030 embodies a deep ambition and the vision of a prosperous future. Our research aims to provide objective and insightful analysis, directing Cambodia towards its aspirations amidst changing regional and global dynamics,” she added.
Preliminary findings of the study will be discussed at the upcoming COC on November 23, with the final report scheduled for release at the 2024 COC, as per the press release.