{"id":10838,"date":"2021-02-01T11:35:00","date_gmt":"2021-02-01T04:35:00","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=10838"},"modified":"2021-06-04T15:58:30","modified_gmt":"2021-06-04T08:58:30","slug":"cambodia-china-trade-deal-to-boost-cambodias-economy-by-4","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/cambodia-china-trade-deal-to-boost-cambodias-economy-by-4\/","title":{"rendered":"Cambodia-China trade deal to boost Cambodia\u2019s economy by 4%"},"content":{"rendered":"<p><span data-contrast=\"none\">Tourism and construction, including exports and agriculture will drive the country\u2019s recovery<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:120,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<figure id=\"attachment_10845\" aria-describedby=\"caption-attachment-10845\" style=\"width: 1000px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"size-full wp-image-10845\" src=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/02\/shutterstock_1074065588.jpg\" alt=\"\" width=\"1000\" height=\"667\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/02\/shutterstock_1074065588.jpg 400w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/02\/shutterstock_1074065588.jpg 600w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/02\/shutterstock_1074065588.jpg 620w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/02\/shutterstock_1074065588.jpg 190w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/02\/shutterstock_1074065588.jpg 1000w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-10845\" class=\"wp-caption-text\">Developing cityscape of Phnom Penh, Cambodia. slyellow\/Shutterstock<\/figcaption><\/figure>\n<p><span data-contrast=\"none\">According to Economy and Financing Ministry\u2019s standing secretary of state\u00a0<\/span><span data-contrast=\"none\">Vongsey<\/span><span data-contrast=\"none\">\u00a0<\/span><span data-contrast=\"none\">Vissoth<\/span><span data-contrast=\"none\">,\u00a0<\/span><span data-contrast=\"none\">Cambodia\u2019s economy is predicted to recover four percent in 2021<\/span><span data-contrast=\"none\">, following a challenging year<\/span><span data-contrast=\"none\">\u00a0of COVID-19<\/span><span data-contrast=\"none\">\u00a0that caused a\u00a0<\/span><span data-contrast=\"none\">decline of 3.1 percent<\/span><span data-contrast=\"none\">, reported\u00a0<\/span><a href=\"https:\/\/www.thestar.com.my\/aseanplus\/aseanplus-news\/2021\/01\/28\/cambodian-economy-projected-to-rebound-by-4-this-year-officials\" target=\"_blank\" rel=\"noopener noreferrer\"><span data-contrast=\"none\">The Star.<\/span><\/a><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:120,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">The main drivers of Cambodia\u2019s economy are tourism,\u00a0<\/span><span data-contrast=\"none\">construction<\/span><span data-contrast=\"none\">, garment and footwear exports, and agriculture.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:120,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Vissoth<\/span><span data-contrast=\"none\">\u00a0said, \u201cgrowth in all sectors is forecast to bounce back this year after\u00a0<\/span><span data-contrast=\"none\">experiencing<\/span><span data-contrast=\"none\">\u00a0a recession last year due to the COVID-19.\u201d\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:120,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">He also mentioned that the recently signed Cambodia-China Free Trade Agreement<\/span><span data-contrast=\"none\">\u00a0<\/span><span data-contrast=\"none\">will b<\/span><span data-contrast=\"none\">e\u00a0<\/span><span data-contrast=\"none\">a\u00a0<\/span><span data-contrast=\"none\">key factor in boosting economic growth.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:120,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Chheang\u00a0<\/span><span data-contrast=\"none\">Vannarith<\/span><span data-contrast=\"none\">, director general of the General Department of Policy at the Ministry of Economy and Finance, indicated that the service sector, which includes tourism, transport and\u00a0<\/span><span data-contrast=\"none\">telecom<\/span><span data-contrast=\"none\">, trade, and real estate, was projected to increase by 3.4 percent.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:120,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/www.asiapropertyawards.com\/en\/cambodian-airports-and-hotels-enforce-preventive-covid-19-measures\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>More: Cambodian airports and hotels enforce preventive COVID-19 measures<\/strong><\/a><\/p>\n<p><span data-contrast=\"none\">However, rising protectionism, as well as the ongoing spread of COVID-19 and riskiness in trade preferences could drawback growth.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:120,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">\u201cFor Cambodia, careful lifting to travel restrictions will help to revive tourism and related services,\u201d said David Freedman, country economist for the Asian Development Bank (ADB) in Cambodia.<\/span><\/p>\n<p><span data-contrast=\"none\">\u201cAlthough the time frames f<\/span><span data-contrast=\"none\">or re-<\/span><span data-contrast=\"none\">opening<\/span><span data-contrast=\"none\">\u00a0remain somewhat uncertain, the recent progress on vaccine approvals internationally is very encouraging.\u201d\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:120,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tourism and construction, including exports and agriculture will drive the country\u2019s recovery\u00a0<\/p>\n","protected":false},"author":12,"featured_media":20977,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[177,1070,1069,322],"class_list":["post-10838","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-cambodia","tag-growth","tag-services-sector","tag-tourism","news_country-cambodia","news_country-china","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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