By: Ek Tha
PHNOM PENH, Oct. 2, 2012 (PQRU) – The IMF has on Tuesday, forecasted that Cambodia’s growth will reach up to 7 percent this year, thanks to growth in the agriculture, tourism and construction sectors.“The economic growth is slow from China to India but economic activity in Cambodia is holding up this year. So overall, our forecast is 6.5 to 7 percent,” said Olaf Unteroberdoerster, of IMF Asia and Pacific Department, when he called on His Excellency Deputy Prime Minister Dr. Sok An.
The Deputy Prime Minister said Cambodia’s GDP per capita in now said to be $930. The poverty line is now estimated to be 25 percent out of the total population of 14 million.
They said the three sectors are the key contributors to the country’s economic growth and inflation of the kingdom is low when compared to countries in the region.
Cambodia has high potential in rice production of approximately 8 million tons for 2011/2012 and exports its surplus rice to Vietnam and Thailand every year.
The kingdom has exported 180,000 tons of milled rice last year and targets 1 million tons of milled rice export by 2015, said the Deputy Prime Minister.
The country’s rubber plantations have increased over time and expecting more harvests and production to come. “Rubber plantations have been growing very fast on red and black soil and we are expecting more production to come,” said His Excellency Dr. Sok An.
The kingdom of wonder also expects to receive around 2.8 million tourists in 2012 and that figure expects to increase nearly 20 percent a year thanks to the country’s security and peace in addition to cultural and eco-tourism.
According to the World Tourism Organization (WTO) prediction, Cambodia will be able to receive 4 million tourists by 2015 and around 8 million tourists by 2020, said the Deputy Prime Minister.Tourists arrive in Cambodia by land, air and cruise ships.
His Excellency Dr. Sok An said that direct flights also play a vital role in contributing towards the tourism industry. He has said all along that once tourists come other sectors will follow suit.
Last night, the Deputy Prime Minister inaugurated the launch of the direct flight of Tiger Airways route from Singapore to Phnom Penh. Last week Kenya ambassador told His Excellency Dr. Sok An that Nairobi wanted to have direct flights with Phnom Penh.
The construction of guest houses and hotels are also mushrooming, showing sign of tourist arrivals increasing.
Cambodia is to host the 37th session of the World Heritage Committee (WHC) next year and this will send another strong message to the outside world that Cambodia is also a tourist destination in Asia.
The Kingdom’s cultural tourism is attracting more tourists to this nation. The UN listed Angkor in 1992 and Preah Vihear in 2008 as World Heritage Sites.
Last year Cambodia’s export of garment products was estimated at $4 billion, said His Excellency Dr. Sok An.
Cambodia is now on the brink of issuing the production permit for US giant Chevron, which discovered oil in Cambodia’s offshore on block A. While, JOGMEC continues the seismic survey in Prea Vihear, said the Deputy Prime Minister.
Cambodia looks to set up joint team between the Royal Government of Cambodia and Chevron so that both sides will speak with one voice when it comes to the issue of oil and gas production, taxation, revenues and other related issues concerning block A.
Deputy Prime Minister H.E. Dr. Sok An also said that Cambodia expects more oil and gas productions from the Overlapping Claims Area (OCA) with Thailand when a deal would be made by both sides.
The government is also working on civil reform on how to improve the delivery of public service and to do that it needs to improve the capacity building of civil servants so that they could serve the people better. END