PM Hun Sen Sets Ambitious Goal for Cambodia’s Economic Advancement, to be a high middle income country by 2030

• 5 June 2023
• Local News
• 1810 Views

Prime Minister Hun Sen has unveiled an ambitious vision to propel Cambodia towards achieving high-middle-income status by 2030, reinforcing the government’s commitment to sustainable development. During a momentous graduation ceremony at the Royal University of Law and Economics on June 5, the Prime Minister expressed confidence in Cambodia’s ability to surpass the challenges posed by the global pandemic, climate change, and geopolitical uncertainties.

As Cambodia strives to shed its least developed country status by 2027, Prime Minister Hun Sen emphasized the nation’s determined trajectory towards becoming a high-middle-income country. Despite the adverse impacts of the ongoing crisis, the Prime Minister highlighted the optimistic economic forecast that supports this goal, reflecting the country’s resilience and potential for growth.

“Cambodia is steadfast in its pursuit of graduating from the least developed country status by 2027, and we are resolute in achieving our vision of becoming a high-middle-income country by 2030 as outlined in our sustainable development goals. Despite the challenges we face, the current economic growth provides a solid foundation for reaching our targets,” Prime Minister Hun Sen affirmed.

The Royal Government of Cambodia has laid out an ambitious roadmap, aiming to elevate the country’s status to a high-middle-income country by 2030 and a high-income country by 2050. This strategic vision aligns with international standards, with high-middle-income countries defined by a per capita gross national income ranging from US$4,256 to US$13,205 annually, while high-income countries surpass the threshold of US$13,205.

The visionary aspirations set forth by Prime Minister Hun Sen demonstrate Cambodia’s unwavering commitment to progress and economic prosperity. The nation’s drive towards attaining high-middle-income status by 2030 reflects its determination to create an inclusive and prosperous future for all its citizens.

• Analysis