More workers continue to find employment in Cambodia
Laos is in second place with a projected unemployment rate of 1.0%. The expected unemployment rates of other ASEAN countries are: Myanmar (1.79%, Singapore (2.2%), Vietnam (2.46%), Malaysia (3.9%), Philippines (5.8%), Indonesia (5.83%) and Brunei (8.4%).
Hong Vannak, an economic analyst at Royal Academy of Cambodia, said that Cambodia is one of the developing countries that have created jobs for its people in production, domestic trade and export, which have been supported by the government’s efforts to build international, bilateral and multilateral relations with different partners both regionally and globally.
Cambodia generated more than US$2.2 billion of revenue from its international trade within the first five months of this year, a year-on-year increase of 20%. It indicates that domestic production has improved, driven by rising labour.
“This means that our people have a lot of jobs in production and commodities for export,” Vannak said, adding that as a developing country, Cambodia has been attractive for both local and foreign investors who have injected their money into many sectors including agriculture, industry, construction, and tourism.
“Rising investment means creating jobs for people,” he said, adding that Cambodia has good geography and potential sectors especially agriculture and household businesses that can help generate extra income.
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Free trade agreements are also contributing to job creation, as Vannak explained to the Khmer Times, “They enable people’s jobs to be sustainable. For example, workers at garment factories still have continuous jobs. I believe the employment rate is really low for the country.”