A aerial view of Phnom Penh showcases some of the many tall buildings which grace the rapidly-developing capital city. Hong Menea
Government spokesman Pen Bona has shared his confidence that the government’s goal of Cambodia obtaining high-income status by 2050 will be attained.
He believes that by 2050, the Kingdom will be home to a resilient, strong and inclusive economy.
The government has laid out a detailed strategic plan, setting its sights on becoming an upper-middle-income country by 2030 and a high-income one by 2050.
Bona said that in laying out his vision in the government’s Pentagonal Strategy, Prime Minister Hun Manet has set realistic targets.
He was addressing a February 16 press conference on the achievements of Manet’s seventh-mandate government in its first six months.
He explained that the term “high-income” is not about more than just immediate profit.
“Income is important, but the economy must be resilient, strong and inclusive. Resilience means an economy that is not easily affected or shaken by anything. Strength is also crucial, so that nothing can easily bring the economy down. Inclusiveness means that dividends must be distributed equitably among the people,” he said.
On the political front, Bona described the government’s 2050 goal as for the Kingdom to be strong, peaceful and politically stable, with a priority on the rule of law and social justice. It will be an independent, authoritative state which enjoys sovereignty, territorial integrity and high prestige on the international stage, which is treated as an equal by all other nations.
“Cambodia will be a country where all citizens receive all social protections whenever they have problems. I have previously discussed the government’s six priority policies, each of which is key to reaching our 2050 goals,” he said.
He also discussed the government’s plans for human resource development, explaining that the first side of the Pentagonal Strategy emphasises the building of human capital with at least one specific skill set.
While addressing the February 19 groundbreaking ceremony of the Chak Angre Krom-Prek Pra Bridge across the Bassac River in Phnom Penh, Manet explained that during the six months of his government, he had attended the inauguration of many significant infrastructure developments.
Some of the major achievements he mentioned included the inauguration of the Koh Pich-Koh Norea Bridge, a section of National Road 5, the new Siem Reap-Angkor International Airport and the groundbreaking of a deepwater port expansion in Preah Sihanouk province.
In addition, this June, he will inaugurate a port in Kampot province, and in 2025 he will also inaugurate a new international airport, the Kingdom’s largest.
“So we now have a lot of infrastructure systems in place, We are negotiating to construct an expressway from Phnom Penh to Bavet and organising studies to build one from the capital to Poipet, via Siem Reap. We are also examining the possibility of expanding our northern rail network,” he said.
Yang Peou, secretary-general of the Royal Academy of Cambodia, cautioned that in the context of the global economic crisis spurred by the Covid-19 pandemic, the Russia-Ukraine war, the problems in the Red Sea, and so on, the goals will be challenging.
“However, it is important to remember that the government is actively working on its reforms. If they are implemented successfully, we will see many improvements, so if even if we don’t reach the goal, we will be very close to them. I am very optimistic about this,” he said.
