Cambodia is ‘Asian Tiger of the 21st Century’

With an average annual growth rate of 7.7 per cent for the economy between 1998 and 2019, Cambodia is one of the fastest-growing countries in the world and easily the new ‘Asian Tiger of the 21st Century,’ said Anthony Galliano, President of the American Chamber of Commerce and Group CEO of Cambodian Investment Management Holdings, yesterday.

Making a presentation on ‘An Overview of Cambodian Market: What Drives the Economy and What Opportunities Are Rhere for Local, Multinational Companies and Individual Investors,” at the real estate property show at Premier Centre, Sen Sok yesterday, Anthony said Cambodia is now on the same growth trajectory as that of Singapore, Hong Kong, Taiwan and Korea that were billed as Asian Tigers due to their rapid industrialization and over seven per cent growth between the 1960s and 1990s.

He said there is a misguided perception in the world of Cambodia as a poor, underdeveloped country recovering from war and genocide. “But this is far behind Cambodia and almost 50 years ago. Now it is a lower-middle-income country and expected to attain upper-middle-income status by 2030, or even earlier by 2028,” Anthony said.

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