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Business Luncheon: Cambodia’s Middle Income Journey – Issues And Challenges
11/10/2016 @ 11:30 am - 2:00 pm
Join BritCham on Tuesday 11th October with Guest Speaker Mr. Srinivasa Madhur, Senior Economic Advisor to the Ministry of Economy and Finance, who will share his perspectives on the immediate and the medium term challenges that Cambodia faces in its middle income journey.
Cambodia has just passed a major development milestone – graduation from a low-income country (LIC) to a lower-middle income country (LMIC). In July this year, the World Bank did this upgrade, as Cambodia’s per capita gross national income moved above the threshold of $1045. Cambodia is the last ASEAN country to achieve this feat, on the footsteps of Myanmar in 2015, Laos in 2011, and Vietnam in 2010.
Graduating to LMIC has been a major achievement for the country, especially considering that about 20 years ago, it had a per capita income of just about $200. In the mid-1990s, this feat would have been hardly possible to envisage, as the country then was facing plenty of daunting social, economic, and political problems.
Recent years’ annual economic growth in the neighbourhood of 7 percent is also very much in line with the medium-term target set by both the RGC’s phase three of the Rectangular Strategy (RSIII) and the National Strategic Development Plan (NSDP) for the period 2014-2018. With these creditable economic, performance, the country has indeed travelled a long distance from its shaky foundations in the mid-1990s.
That said, Cambodia also has a long way to travel in its middle income journey. The country needs to continue its strong economic performance but at the same time achieve substantial structural transformations not just economically but also socially.
11.30 – 12.00: Registration
12.00 – 12.45: Lunch is served
12.45 – 12.50: Opening remarks by BritCham
12.50 – 13.40: Speaker Presentation
13.40 – 14.00: Q&A