Garment Sector Development Strategy 2022-2027 Launched

• Kongleaphy Keam
• 22 March 2022
• Uncategorized
• 1893 Views

The Ministry of Economy and Finance has officially launched the “Cambodia Garment and Footwear, and Travel Goods Sector Development Strategy 2022-2027” to promote the development of the garment sector in Cambodia.

The launch ceremony was held on 21 March in the presence of HE Aun Pornmoniroth, Deputy Prime Minister and Minister of Economy and Finance.

Key objectives of the strategy are to strengthen human resources to increase productivity and build career paths for workers, to improve working conditions and welfare of workers and employees, and to promote domestic and foreign investment in the industry.

Attracting investment in the connective industries and promoting market diversification for footwear exports are included in the strategy’s main points.

From the late 1990s to 2008, garment exports accounted for more than 95% of Cambodia’s total exports and remained more than 70% after the global financial crisis in 2008 to the present. Meanwhile, the kingdom has been diversifying the export of other products such as bicycles, auto parts and electronic components.

• Policy and Strategy