Phnom Penh December 7, 2012—For a decade, Cambodia has sustained strong economic growth despite the global economic slowdown. To maintain this growth, Cambodia should invest more in its most precious resource—its people. As a global knowledge and financial institution, the World Bank is in Cambodia to help.
Today roughly 20 percent of Cambodians—that is 2.8 million people are still poor. Nearly 40 percent of children under the age of five suffer from malnutrition, and 28 percent in the same age group are underweight.
“Investments in human development, particularly in the areas of health and education, need to be a priority in Cambodia to create opportunities for all, especially the poor and vulnerable," said Pamela Cox, the World Bank Vice President for East Asia and the Pacific during her visit to the country this week. “Cambodia has come a long way from where it was, but there are still challenges to overcome, and the World Bank is here to help with those challenges.”
Over the past decade, workforce skills of adults improved at a slower rate than in other countries in East Asia, and the proportion of skilled workers among earners stagnated. A recent World Bank study founded that 22 percent of foreign employers in Cambodia identify skills as a severe constraint to businesses. This means many Cambodians earn less than they could if they had adequate education and skills.