24 Feb '12, 2am

Cambodia looks to banking and agriculture to spur growth

Cambodia looks to banking and agriculture to spur growth

Cambodia: Garment-making has been a mainstay of Cambodia's fledgling economy, chalking up between 6 and 7 percent annually for the past four years. But, the country is turning its focus back to the land in the hope that rice growing and other farming produce, will lift growth closer to 8 percent, making it among the world's fastest growing economies. A contrast to and the yearly average GDP growth rate of 7.7 percent over the last ten years, according to the IMF. Cambodia's central bank expects economic growth in 2012 to accelerate to its fastest pace in four years. "One of the priority sector of the government is to develop the agriculture" said Nguon Sokha, Director General, National Bank of Cambodia. "At the moment, growth is driven by the garment sector, tourism sector and construction. Cambodia is an agriculture land so we need to develop based on our natural resource...

Full article: http://www.channelnewsasia.com/stories/economicnews/view/...

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