Cambodia has a tragic history but has recovered remarkably since the 1991 Paris Peace Agreements and continues to harbour great aspirations. It aims to become an upper-middle-income country by 2030 and a high-income country by 2050.
To realise these aspirations, Cambodia must address various constraints to achieve more inclusive growth that is also sustainable and resilient. This type of growth should be driven by, as well as generate, decent paying and sustainable jobs in the formal and informal sectors.
To do this, Cambodia needs a new phase of structural transformation. So far, the limited amount of diversification of its economy has not affected the rapid pace of growth but only its quality and inclusiveness.