24-8-2023 (PHNOM PENH) Cambodia’s recently inaugurated Prime Minister, Hun Manet, has introduced the “Pentagonal Strategy-Phase I 2023-2028” during the inaugural cabinet meeting of his term. The strategy aims to propel economic growth, foster employment opportunities, ensure fairness, improve efficiency, and sustain environmental viability as part of Cambodia’s path towards achieving the Cambodia Vision 2050.
Prime Minister Hun Manet articulated his vision during the event, emphasizing that the next 25 years represent a new era for Cambodia. He expressed the nation’s aspirations to elevate its national pride to levels akin to the illustrious Angkor era, aiming to construct a robust, thriving, glorious, and prosperous nation, ultimately becoming a high-income country by 2050.
“The Royal Government of Cambodia has identified five primary focal points for the Pentagonal Strategy-Phase I, namely people, infrastructure, water resources, electricity, and technology,” he affirmed.
The prime minister further elaborated that the strategy’s fundamental mission is twofold: to safeguard the hard-earned peace and to expedite national development. The goal is to reach the pivotal milestone of attaining upper-middle-income status by 2030 and subsequently evolving into a high-income nation by 2050.
Additionally, he highlighted the strategy’s commitment to reinforcing the resilience of five critical sectors: the public sector, economic sector, financial sector, human and social capital sector, and the environment sector with an emphasis on climate change mitigation.
Hun Manet declared that the strategy envisions achieving crisis-resistant economic growth, averaging around 7 percent annually, generating more employment opportunities for Cambodian citizens, particularly the youth, reducing the poverty rate to below 10 percent, enhancing governance capabilities, elevating the quality of public institutions, and ensuring sustainable socioeconomic development.
“The government firmly believes in its capacity to surmount any challenges, obstacles, or crises. It is committed to leading Cambodian society towards greater development, progress, and prosperity by laying a solid and resilient foundation, instilling confidence in the realization of the Cambodia Vision 2050,” he affirmed.
Hun Manet, aged 45, assumed the role of prime minister following his Cambodian People’s Party’s (CPP) resounding victory in the general election on July 23, securing 120 out of 125 parliamentary seats.
