8/13/2019 ECONOMY- FAR EAST
1/2
Challenges ahead of CLMV and the role of regional partners
Cambodia
Lets have a look at Cambodian economy.
Cambodia is one of the fastest-growing economy, with
double-digit growth rates and macro-
economic stability except in 2008 crisis.
Challenges are high poverty rate, wide income gap, poor human
resource and low production
base.
Cambodia continues to attract investors because of its low
wages, plentiful labor, proximity toAsian raw materials, and
favorable tax treatment.
The service sector is heavily concentrated on trading activities
and catering-related services
They need a better education system like any other emerging
economy.
Lao PDR
Lao PDR has been facing numerous challenges and is one of the
least developed countries (LDCs) in the
world. Some of the areas Lao is working are-
Alandlockedcountry, it has inadequate infrastructure and a
largely unskilled work force.
Strengthening the private sector by promoting SMEs-financial,
labor, and real estate markets;
Tourism industry by promoting historical tourism in the country
as a sustainable tourist friendly
destination
Also, they are trying to change their monetary reforms
Myanmar
Four economic objectives (Basic Economic Guidelines towards
Democratic State) are:
The lack of an educated workforce skilled in modern technology
contributes to the growingproblems of the economy
They want to evolve all of their markets, so they are looking at
a market based orientation
improvement
Initiative to keep the national growth in hands of the state and
the national peoples.
Vietnam
Main development objectives for the years to come:
To sustain high economic growth;
They dont want to be tag under a poor nation by the end of
2020
