Cambodia launches five-year development plan

09, Nov. 2019

PHNOM PENH, VNA - Cambodian Prime Minister Samdech Techo Hun Sen on November 7 launched a national strategic development plan for 2019-2023 with a budget of 60 billion USD.

Addressing the launch ceremony, PM Hun Sen said the five-year plan aims to ensure sustainable economic growth of about 7 percent each year, and reduce the poverty ratio to less than 10 percent.

He underlined the significant role of the plan in supporting the country’s goal of becoming an upper middle income country in 2030 and a high income nation in 2050.

Meanwhile, Cambodian Minister of Planning Chhay Than said the Cambodian Government will provide 27.5 percent of the capital for the implementation of the plan, while the other 72.5 percent will be sought from the private sector.

Under the plan, the Southeast Asian country will prioritise the development of human resources, roads, water and power resources. - VNA