Phnom Penh (FN), Dec. 18 – Samdech Techo Hun Sen, President of the Cambodian People’s Party (CPP), said that Cambodia's economy is projected to grow by 6 per cent in 2024 and could reach 6.7 per cent by 2027.

Samdech Techo spoke on Wednesday (Dec. 18) during a closing conference on 2024 achievements and future directions for CPP Mass Movement Committee, held at the CPP’s headquarter.

“Despite recent setbacks, the Cambodian economy has rebounded, achieving a growth rate of 5 per cent in 2023. It is projected to grow by 6 per cent in 2024 and could reach 6.7 per cent by 2027, reflecting Cambodia’s promising economic future,” Samdech Techo underscored.

Samdech Techo Hun Sen noted that under the leadership of the CPP, the country has achieved lasting peace, which serves as the cornerstone for rebuilding and developing the homeland to its present state.

He further highlighted that, owing to this peace, the Cambodian economy has undergone significant transformations, evolving into a modern economy capable of integrating with the global market. The economy has demonstrated remarkable resilience. Indeed, before the onset of COVID19, Cambodia maintained an average annual growth rate exceeding 7 per cent for two decades.

On the occasion, Samdech Techo Hun Sen underlined that the implementation of the "win-win policy" in 1998 established complete peace, which significantly boosted tourism. Tourist arrivals surged from approximately 290,000 in 1998 to 6.6 million in 2019. Although tourism was impacted during the COVID19 crisis, Cambodia received approximately 5.14 million international tourists in the first ten months of 2024, marking a 21.6 per cent increase compared to the same period in 2023. This rebound reflects the resilience of the tourism sector, which is approaching pre-pandemic growth levels.

Samdech Techo emphasised that peace and development are intrinsically linked: without peace, development is impossible, and without sustainable, inclusive, and equitable development, maintaining peace and stability is unachievable.

He added that this reality must be understood by party officials, who are duty-bound to uphold the party’s mission and vision to protect peace and promote development in Cambodia. With peace, citizens enjoy their rights and freedoms. With peace, the nation can thrive and prosper.
=FRESH NEWS