PHNOM PENH —
The World Bank and Asian Development Bank issued a report on Tuesday, urging Cambodia to improve its electricity supply and workforce in order to be competitive.
The Investment Climate Assessment also says Cambodia needs to improve its financial payment structures.
Intermittent electricity, informal payments and a low-skill labor force are all major constraints to doing business in Cambodia, the report says.
“Cambodia has made great strides in diversifying into new products and attracting more sophisticated investors, and we hope our joint report will help stimulate a healthy public debate leading to a better business environment for private sector development,” World Bank Cambodia Country Manager Alassane Sow said in a workshop with government officials, businesses and others.
“Indeed, following a slowdown from the global financial crisis and more recent political uncertainty, Cambodia has seen a recovery in foreign direct investment, as it integrates more deeply into regional value chains for industries like garment and textiles,” he said.