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ADB touts Cambodia’s strong economic prospects

The Asian Development Bank (ADB) has upwardly revised its 2010 growth forecasts for Cambodia, boosting them from 4.5% to 5%. The success enjoyed by the agricultural, garment and tourism sectors were the main reasons cited for the predicted increase in the higher forecasts.

The report also focused on the benefits generated by the growing Chinese investment into the Kingdom. In the first six months of 2010, Chinese investment in Cambodia increased by 119%, compared to the same period last year.

On a related matter, the US has announced it is pledging an additional $17 million to its current economic assistance program for Cambodia. The additional funds will focus on improving agricultural production and on helping small and medium-sized enterprises (SMEs) to expand.

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