By the end of 2015, there are more than 40,000 factories across Cambodia, employing a total of over 1,000,000 workers, pointed out Prime Minister Samdech Akka Moha Sena Padei Techo Hun Sen in his five-page message to his compatriots on the occasion of the Khmer Traditional New Year to be held this week.

Of the total number, he added, more than 1,400 factories are heavy industries with about 860,000 workers, and 39,000 are small enterprises and handicrafts with some 194,000 workers.

Industrial development is a strategy stated clearly in the government's Rectangular Strategy-Phase III in order to transform this potential sector into another source of Cambodia's economic growth, underlined Samdech Techo Hun Sen.

In March 2015, the Royal Government of Cambodia adopted the Industrial Development Policy (IDP) 2015-2025 which is the country's new growth strategy to further promote inclusive and sustainable economic growth in the long run.

The policy embraces 4 key strategies: reducing the price of electricity and increasing power supply coverage for industrial and agricultural sectors to promote business confidence, productivity and investment; developing transport and logistics infrastructure across Cambodia but especially along three prioritized transport routes essential for industrial development, connectivity, competitiveness and private sector needs - Phnom Penh to Sihanoukville, Phnom Penh to Bavet, and Phnom Penh to Poipet; developing a mechanism to strengthen labour market and technical skills to ensure adequate labour supply and improved productivity; and transforming Sihanoukville into a multipurpose special economic zone and future green industrial development zone for ASEAN.

Source: AKP