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Cambodia’s economy forecast to grow over 5pc in 2022

PHNOM PENH (XINHUA) – Cambodia’s economy is expected to grow over five per cent in 2022 after the Southeast Asian nation has fully re-opened since November, buoyed by its high vaccination rates, Prime Minister Samdech Techo Hun Sen said yesterday.

“The success of the COVID-19 national vaccination campaign has allowed Cambodia’s economy to grow at a faster-than-expected rate,” he said during a handover ceremony of 300,000 doses of COVID-19 vaccine donated from Poland.

“Cambodia’s economy is projected to grow by around three per cent in 2021 and will continue to grow by more than five per cent in 2022, mainly thanks to the full re-opening of the country, and the return of the socioeconomic activities to normal across all sectors,” he added.

The kingdom’s economy is mainly driven by agriculture, tourism, garment exports, and real estate and construction.

So far, Cambodia has administered at least one dose of COVID-19 vaccines to 14.35 million people, or 89.7 per cent of its 16 million population, the Health Ministry said, adding that 13.75 million people, or 86 per cent, have been fully vaccinated with two required shots.

Most of the vaccines used in the country’s inoculation programme are China’s Sinovac and Sinopharm.

“Undoubtedly, vaccination is the key measure to control the spread, to end the COVID-19 crisis, and to re-open socio-economic activities safely in the new normal,” Hun Sen said.

Cambodia has well controlled the spread of COVID-19. The kingdom has reported zero death from the disease for 26 days straight, according to the Health Ministry.

Locals buy flowers ahead of the Lunar New Year celebrations at a market in Phnom Penh. PHOTO: AP