China Premier Li Keqiang is the latest among world leaders to announce a visit to Cambodia as part of the Asean Summit this week in Phnom Penh. More than 100 high schools will get science classrooms and libraries on their campuses and hundreds of teachers trained on science education as part of a $70-million loan package announced by the Asian Development Bank.
The Cambodian economy could grow by 5.3% this year, said ADB economists on Wednesday, pointing to a manufacturing rebound as helping to drive renewed growth.
Cambodia’s economic growth this year is expected at 1.9 percent, down from an earlier estimate of 4 percent, the Asian Development Bank said on Wednesday, as services continued to contract amid Covid-19 disruptions.
Gold exports through “private transactions” jumped some 676 percent, from $388 million to $3 billion last year, with some attributing the surge to investors selling their holdings due to a price rise, and others suggesting a potential link to gold smuggling to Vietnam.
The Asian Development Bank on Tuesday revised Cambodia’s expected economic contraction this year from 5.5 percent to 4 percent, noting growth in non-garment exports thanks in part to demand for work-from-home electronics.
The Asian Development Bank has warned that Cambodia’s rapid economic growth has been put at risk by a growing gap between the skills demanded by industry and the poor education and training of the population.
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