Cambodia achieves economic miracle but much remains to be done

While Cambodia has achieved nothing short of a “miracle” in terms of economic development, there is still much to be done if the Kingdom wants to improve or sustain such progress and the financial/ non-financial wellbeing of its people in the long run. The 2019 Global Sustainable Competitiveness Index released last week by SolAbility ranked Cambodia second to last among countries in Southeast Asia. SolAbility described itself as a sustainable intelligence think-tank. It started operations in 2005 as a Swiss-Korean joint venture.

According to SolAbility, the Index measures current and future capability of countries to generate and/or sustain financial and non-financial income and wealth for its population. There are 116 indicators grouped into five pillars of sustainable competitiveness that determine the ranking of each country. The indicators are taken from authoritative sources such as the World Bank and various United Nations agencies.

The five pillars of sustainable competitiveness are natural capital, resource intensity, intellectual capital, governance and social cohesion. The index has been published yearly since 2012. Cambodia is ranked 86th globally, which placed it ahead only of the 103-ranked Philippines, which occupies the bottom spot among countries in the region.  There were 180 countries included in the survey.

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