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More Long-Term Thinking These Days: Economist

Cambodia may still be facing some challenges from the global financial crisis, but it has recently shown some good trends, especially in long-term investment, a leading economist said Thursday.

“In the year 2010, there is a great impression that long-term investment is the most important need for the economy, as well as local people,” said Kang Chandararoth, president of the Cambodia Institute for Development Study, as a guest on “Hello VOA.”

That would include investment in mining, power and infrastructure, he said.

Thinking has shifted away from a recent attitude of short-term investment and quick money, he said.

Cambodia’s main earners continue to be tourism, construction, agriculture and manufacturing. Earlier this year, the IMF predicted a 5 percent economic growth rate for 2010.

Kang Chandararoth advised farmers to not only cultivate for subsistence, but to consider the needs of the marketplace.