Cabinet Ministers Approve Draft Report on Progress in Industrial Development Policy Implementation

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AKP Phnom Penh, August 14, 2020 –The weekly cabinet meeting, chaired here this morning by Samdech Akka Moha Sena Padei Techo Hun Sen, Prime Minister of the Kingdom of Cambodia, approved the draft report on the progress in the implementation of Cambodia Industrial Development Policy (2015-2025) in 2017-2018.

According to H.E. Phay Siphan, Minister Attached to the Prime Minister and Chairman of the Royal Government Spokesperson Unit, the draft report shows that relevant ministries-institutions and sub-national administrations have been carrying out this policy with accountability and on the right track toward the goals as set by 2025.

The implementation of Cambodia Industrial Development Policy in 2017-2018 has attained positive progress, but faced some challenges and risks which required continued participation and cooperation from all stakeholders – national institutions, private sector and development partners.

Cambodia Industrial Development Policy (2015-2025), launched on Aug. 26, 2015, is a guide to boost the industrial development in Cambodia through economic diversification, competitiveness strengthening, and productivity enhancement. Its vision is to change from labour-intensive industry to skilled-labour industry by achieving three main goals – increase the share of industrial sector in the country’s GDP to 30 percent by 2025, promote the diversification of exported products beside garments and boost the export of processed products, and support the small- and medium-sized enterprises (SMEs).

By Heng Panha