People visit Angkor Wat in Siem Reap province. (VOD)

World Bank Projects Negative Growth in Cambodia, a First Since 1994

Cambodia could see negative growth this year — for the first time since 1994 — due to the pandemic-spurred economic crisis, the World Bank projected on Friday, estimating even more severe hits to the nation’s key industries than it did two months ago.

Construction workers at a building site in Phnom Penh in January 2015 (Philip Brookes/Flickr)

World Bank Warns of Economic Risks Amid Strong Growth

Possible E.U. trade sanctions, rising indebtedness and slowing foreign investment — which “peaked” last year — pose substantial risks to the Cambodian economy despite continuing strong growth, the World Bank said in its latest country update.

A garment factory worker in Cambodia (ILO)

Increase Business Productivity, Upskill for Better Jobs, World Bank Says

Cambodia needs to diversify exports and upskill its labor force, with productivity in its dominant garment export industry stagnating compared to competing economies in part because workers don’t have the “skills to attract higher-value FDI, nor do they have the means to acquire those skills,” according to a new World Bank report.