General

PM Highlights Pentagonal Strategy-Phase I

Prime Minister H.E. Kitti Tesaphibal Pundit Hun Manet this morning laid stress on the importance of the Pentagonal Strategy-Phase I.Addressing to some 18,000 workers and employees in Prey Speu area, Phnom Penh, H.E. Kitti Tesaphibal Pundit said the pr…

Prime Minister H.E. Kitti Tesaphibal Pundit Hun Manet this morning laid stress on the importance of the Pentagonal Strategy-Phase I.

Addressing to some 18,000 workers and employees in Prey Speu area, Phnom Penh, H.E. Kitti Tesaphibal Pundit said the previous strategy focused on People, Road, Water, and Electricity, but for the Pentagonal Strategy-Phase I, we added Technology to ensure the economic growth and sustainability of the nation.

“Our policy does not stand still, but balanced and flexible for the benefit of our people,” he stressed.

Regarding the technology, the new Premier said that Cambodian people already had technological knowledge and skills, therefore the Royal Government has to develop this sector in order to further help them for a better future.

“Our industrial sector must be promoted and enhanced. […] Now we were the producers of some branded products, but we are not just a garment producer, we also have automobile assembly plants, electrical equipment factories, etc., so we also need to develop this technological capacity among the people and to suit and meet the demand of the job markets,” he added.

H.E. Kitti Tesaphibal Pundit Hun Manet said the development strategy had been set forth by the Royal Government of Cambodia (RGC) under the leadership of the ruling Cambodian People’s Party since the Triangle to Rectangular Strategy from phase I to IV.

“We should sharpen it to make it more efficient, so this is the pentagonal strategy,” he added.

The Pentagonal Strategy-Phase I was officially launched by the Royal Government of Cambodia of the 7th Legislature of the National Assembly on Aug. 24 for the growth, employment, equity, efficiency and sustainability to build the national foundation towards realising the Cambodia Vision 2050.

The strategy has Five Mottos, Five Strategic Objectives, and Five Key Priorities. The Five Mottos included, growth, employment, equity, efficiency, and sustainability, while the Five Strategic Objectives are 1. Ensuring crisis-resilient economic growth of around 7 percent per year on average; 2. Creating more jobs, both quantity and quality, for Cambodian people, especially for the youth; 3. Achieving the poverty reduction targeting of below 10 percent and continuing to keep the poverty rate to a minimum level; 4. Continuing to strengthen governance capacity and improving the quality of public institutions, both national and sub-national, to ensure efficiency of public services, continue to strengthen private sector governance, and continue to promote a favourable environment for business, investment, and trade; and 5. Ensuring sustainable socio-economic development and building resilience to climate change.

With Five Mottos and Five Strategic Objectives as stated above, the RGC identifies Five Key Priorities for this strategy, namely People, Road, Water, Electricity, and Technology that are clearly reflected in the Strategic Pentagons in the whole structure of the strategy.

This strategy will further reform and strengthen governance, overarching environment to ensure a conducive environment for the implementation of the entire strategy, and Five Strategic Pentagons: to promote economic growth and social progress.

Source: Agence Kampuchea Presse