Cambodian Prime Minister Samdech Techo Hun Sen said here on Monday that the Southeast Asian nation is projected to graduate from a least developed country status by 2027.
“I’m very confident that Cambodia will graduate from least developed country status by 2027 at the latest and will achieve our goal of becoming an upper-middle income country in 2030,” he said in a speech during the graduation ceremony of nearly 6,000 students at the Royal University of Law and Economics.
“Maintaining peace and political stability is the most important prerequisite to achieve these targets,” he said.
Hun Sen said the kingdom’s economy has recovered well in the post-COVID-19 pandemic era, with GDP growth being forecast at 5.6 percent in 2023, up from 5.2 percent in 2022.
Cambodian Ministry of Commerce’s undersecretary of state and spokesman Penn Sovicheat said the Regional Comprehensive Economic Partnership (RCEP) agreement, the Cambodia-China Free Trade Agreement, and the Cambodia-Republic of Korea FTA will help Cambodia graduate from its least developed country status and achieve its goals of becoming an upper-middle income country in 2030 and a high-income nation by 2050.
Source: Xinhua
