World Bank Reaffirms Strategic Support for Cambodia’s Path to High-Income Status by 2050

• Proeksa Meas
• 27 March 2026
• Construction Focus
• 946 Views

Vice President Carlos Felipe Jaramillo identifies five key sectors to drive job creation and sustainable economic growth

The World Bank has pledged to continue its robust support for Cambodia’s ambitious economic agenda, focusing on five high-potential sectors designed to accelerate job creation and elevate the Kingdom’s socio-economic standing. The commitment was underscored during a high-level meeting between Samdech Moha Borvor Thipadei Hun Manet, Prime Minister of Cambodia, and Carlos Felipe Jaramillo, World Bank Vice President for East Asia and the Pacific, at the Peace Palace on March 17, 2026.

Mr. Jaramillo commended Cambodia’s developmental trajectory and expressed strong alignment with the government’s long-term vision of transitioning into a high-income nation by 2050. He emphasized that the World Bank’s current global priority is assisting partner countries in generating sustainable employment opportunities. For Cambodia, the Bank has identified five critical pillars for growth: agriculture and agri-business, tourism, manufacturing, healthcare, and infrastructure development.

Central to this strategy is a deepened partnership with the private sector, which Mr. Jaramillo characterized as the primary engine of economic vitality and job creation. By fostering a more resilient and dynamic investment environment, the World Bank aims to ensure that Cambodia’s growth remains inclusive and capable of navigating global economic uncertainties.

In response, Prime Minister Hun Manet expressed gratitude for the World Bank’s enduring partnership and its specific contributions to the implementation of the Pentagonal Strategy—Phase I. He briefed the delegation on the government’s multifaceted approach to building national resilience, which includes heavy investment in human capital, vocational training, and education. The Prime Minister also highlighted ongoing reforms in the financial sector and initiatives to enhance the competitiveness of small and medium enterprises (SMEs) while attracting high-value international investment.

The meeting reflects a growing synergy between Cambodia’s national development goals and international financial support, as the Kingdom works to modernize its production capacity for both domestic and export markets.

• sustainable development
• Economic development
• WB
• Key sectors