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Cambodia still sustains robust growth despite worst floods: Deputy PM
Cambodia would still see robust growth in this year and next year despite worst flood devastation, thanks to strong increases in foreign direct investment, product exports, tourism and recovering construction, the Deputy Prime Minister Sok An, minister of the council of ministers, said Wednesday.
"Despite the damage of floods, Cambodian economy is strongly rebounding, which is projected to be 6 percent and 6.5 percent for 2011 and 2012 respectively," he said during the 2nd day of the 2011 Trade and Investment Conference: Global Challenges, Cambodia's Responses.
"A number of key sectors supporting the economy have showed very positive trends so far this year."
On the foreign direct investment side, he said, during the first eight months of this year, there were 87 projects approved by the Council for the Development of Cambodia. These projects are valued in total at 5.6 billion U.S. dollars, a 250 percent increase over the same period last year. The projects approved included industry, agriculture, and telecommunications ventures.
For the exports, they have increased by nearly 46 percent to 2. 15 billion U.S. dollars, with 80 percent of the exports coming from the garment sector and the rest from the exports of rubber, rice, cassava, corn and other agricultural produces.
In term of tourism, he said, in the first eight months of this year, there was a 15 percent increase in the number of tourists arriving in Cambodia compared to the same months of last year.
"We estimate that there will be nearly 3 million tourists visiting Cambodia in 2011, and the revenue generated by them is anticipated to approach 2 billion U.S. dollars," said Sok An.
xinhuanet
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