Political Tensions Are Hampering Development

[geovalin]

KhmerTimes/Chheang Vannarith

Cambodia has done rather well on economic development and poverty reduction with an average annual GDP growth rate of 7 percent over the last decade but it scores low on political reforms and institutional building. Corruption, economic inequality, social injustice, and environmental degradation are some of the symptoms of bad governance.

Moreover, the ongoing political tensions between the two main political parties – the Cambodian People’s Party (CPP) and the Cambodia National Rescue Party (CNRP) – has hindered the progress of economic reform. Domestic and foreign investors are becoming more cautious in investing or expanding their investment in the Kingdom.

The “Culture of Dialogue” initiated in July 2014 by the two parties has ebbed and flowed over time. The political tensions that erupted in November have marred the process of political reconciliation between the two parties. The lack of political trust has become the key stumbling block in having any effective dialogue between the two parties.

read more: http://www.khmertimeskh.com/news/19214/political-tensions-are-hampering-development/