Cambodian Prime Minister Hun Sen hopes for 5.6 percent economic growth this year and 6.6 percent next year

This morning, Prime Minister Hun Sen delivered a speech to an audience of nearly 20,000 workers at Bavet City’s Manhattan Special Economic Zone. While noting a slight decrease in the garment and footwear industries, he emphasized the consistent expansion of various sectors, with special emphasis on the entertainment industry.

“Our exports in the first quarter of this year experienced a notable surge, with an increase of $1.2 billion, marking a significant 40 percent growth compared to the same period last year,” he stated. He further expressed optimism that Cambodia’s economy is on track to achieve the targeted growth rate of 5.6 percent this year, with the potential to reach 6.6 percent next year.

Prime Minister Hun Sen emphasized the steadfast commitment of the Cambodia People’s Party to maintaining peace, freedom, and development in all sectors of the country. The government’s continuous endeavors involve generating new employment opportunities on an annual basis, with a minimum goal of 30,000 positions, to ensure gainful employment for the people of Cambodia. Furthermore, starting from August this year, the government will initiate a training program benefiting 1.5 million underprivileged youth.

Manhattan Economic Zone’s Green Transformation:Plan to Build Thousands of Worker Housing Units Annually

During the event, Mr. Clement Yang, Chairman of the Manhattan Special Economic Zone (MSEZ), presented the “Manhattan Economic Zone 2.0” project to Prime Minister Hun Sen. The initiative aims to establish a “Green Economic Zone” and develop housing facilities for local workers. Mr. Yang outlined the plan to construct 400 housing units this year, with a long-term objective of building 1,000 units annually. The Prime Minister commended and recognized the project, emphasizing its alignment with the government’s primary objectives of attracting foreign investments and establishing processing plants to harness Cambodia’s abundant resources, create value-added contributions to the economy, and attract technology investments with higher wages to Cambodia.

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