Seng Sovan
The Phnom Penh Post
ONE effect of the global economic crisis seldom discussed amid reports of a liquidity crisis and garment sector meltdown was the impact on Cambodia’s manufacturing progress.
In 2008, Cambodia was on the brink of attracting large multinational companies looking for new sources of cheap labour and the latest frontiers of market growth. But these firms subsequently “stayed at home”, in the words of Sok Chenda, secretary general of the Council for the Development of Cambodia, as CEOs looked to damage limitation rather than expansion overseas.
In Cambodia’s case, the economic crisis looks to have only stalled – rather than aborted – the start of a long-awaited transition from labour-intensive industry towards more complex manufacturing. And increasingly, it is Japan that is driving this industrial evolution.
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