Kampuchea Will Focus On The Manufacturing Level Of Garments And Footwear.

Kampuchea's economy has been benefiting from the relocation of garment factories from Thailand and other places. The relative benefits of its cheap labor have not changed over the past 10 years. Its industrial sector lacks diversification, and is limited to clothing and food. The complexity of its manufacturing industry is still low, and most manufacturing industries are still family oriented and lack of international market. competitive power 。

According to the Mekong Quarterly Outlook released by ANZ bank, Kampuchea will also enhance its value chain as the Mekong sub region economy moves to the high technology industry as long as the government continues its efforts.

The report said that Asia Traditionally, the country has cascaded into value chains, and poorer countries have attracted low tech industries, such as the textile industry, which have been expelled from other countries by higher wages.

5 countries in the Mekong sub region - Kampuchea, Laos, Burma, Vietnam? Both Thailand and Kampuchea enjoy the comparative advantage of labour intensive industries such as clothing and footwear. Kampuchea also has exports of high labor intensive industries, accounting for more than 80% of total exports, which is higher than that of Vietnam.

However, the bank predicts that there will be structural changes in Kampuchea. The government's support will be the same as that of the Korean and Japanese governments in guiding economic development, such as the recent industrial development reform.

The "Rectangular Strategy" of Kampuchea will promote its economic development to the middle and high income countries in 2030, and its Industrial Development Policy, launched in March 10, will gradually diversify industries, such as light industry and agricultural enterprises.