Hun Manet Says Cambodia Remains on Track to Graduate from Least-Developed Status by 2029
Prime Minister Hun Manet said Cambodia remains firmly on track to graduate from the United Nations' Least Developed Country category by the end of 2029, the Khmer Times reported on October 6. He cited sustained economic growth, rising incomes and improvements in human development indicators as the factors supporting the transition.
The government views LDC graduation as a milestone toward upper-middle-income status and, eventually, high-income status by 2050. Cambodia has been an LDC since joining the World Trade Organization in 2003, and its garment and footwear exports have long relied on tariff preferences granted to least-developed countries.
Hun Manet acknowledged that graduation will mean losing certain trade preferences and concessional financing. The government says it has been preparing through reforms, stronger competitiveness, human capital development and economic diversification, including agro-processing, tourism and the digital economy.
On the same day, Cambodia and Japan agreed to prioritise cooperation on railway network rehabilitation and urban rail systems, with technical studies, site visits and working groups planned. For Chinese businesses in Cambodia, graduation is both a cost question, as preferences fade, and a confidence signal that markets and infrastructure are maturing.
Published by GSM · USA (original Chinese edition)
Photo: 图：柬埔寨总理洪玛奈肖像。摄影：BPMI Setpres/Muchlis Jr，公有领域，来源：Wikimedia Commons
