THE business community and industry experts are optimistic of the nation’s future with the appointment of a new government head and young blood which would drive the economy forward, following Cambodian People’s Party (CPP) landslide victory.
Unofficial results of the July 23 polls show that CPP swept 120 out of 125 seats.
The entrepreneurs believe that the growth would be sustained by micro, small and medium enterprises (MSMEs) and by embracing a digital economy.
Among them, Anthony Galliano, group CEO of financial services firm Cambodian Investment Management Co Ltd said a government which is stable is a key factor in evaluating country risk and investment in a country.
Based on the election results, a status quo is anticipated in governance with growth and development remaining steady, but the entry of new and younger leaders could accelerate positive changes going forward.
“Investors seek certainty, especially in the areas of political and economic risk, and the election results and succession plans (happened) as expected, with no degree of uncertainty,” he said.
Prime Minister Hun Sen announced his resignation as Cambodia’s Prime Minister on July 26, while appointing Hun Manet, a deputy commander-in-chief of the Royal Armed Forces and his eldest son, to replace him.Galliano is confident that the incoming government is “very pro-business” and would look to increase and diversify foreign investment.
He said Cambodia enjoyed the global spotlight with the “spectacular” handling of the Asean chairmanship and SEA Games. — The Phnom Penh Post/ANN
