Development Trends in Cambodia
The National Assembly yesterday approved a $15 billion national development plan, which aims at boosting gross domestic product by 6 percent a year between 2010 and 2013.
Eighty-six of the 89 lawmakers present at the Assembly voted to approve the Natinal Stategic Development Plan of 2009 to 2013, which aims at strengthening the economy, and revises targets set out in the previous five-years plan, which expires this year.
Tuon Thavark, director general of the Planning Ministry, told reporter during a break in the session that donors would have to pay for a large sum of the total amount of public spending set out within the plan.
“The govenement would plan to spend about $6 billion to implement the main priorities within the five-years plan. On average we need about $1.2 billion per year,” he said. “Our own money in the national budget amount to spend $200 million… In short we need about $1 billion more [annually].”
The remaining $9 billion will be generated from the private sector, Mr. Thavarak said.
In a May 5 letter to the National Assembly, Prime Minister Hun Sen said he expected $10.8 billion, or more than two thirds of the projected $15 billion cost, to come from foreign donors and investors.
“It is expected that GDP will grow from 0.1 percent in 2009 to about 6 percent from 2010 to 2013,” the prime minister said in the letter.
Speaking at the National Assembly, Planning Minister Chhay Than said the government would devise an investment program to ensure the five-year plan was implemented accordingly.
“The Ministry of Finance and Economy will find capital to support and guarantee the implementation process,” he said.
The National Strategic Development Play lays out goals in poverty reduction, school enrollment and infrastructure needs, among other aspects.
Yim Sovann, spokeman for the opposition SRP, said the government should look closely at the recommendations from civil society and the implementation effectively.
“If the [implementation] is like it is today, I don’t believe that this plan will be a success,” he said.
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