What is the economic development of Cambodia? What changes have brought to Cambodia by the “Belt and Road”?

Rapid national economic growth

Cambodia is one of the countries with the most stable economic growth in Southeast Asia, and is the country with the most relaxed investment policy among ASEAN countries. Cambodia's GDP has maintained a growth rate of 7% for eight consecutive years. The rapid growth of GDP has made Cambodia one of the fastest growing countries in Southeast Asia. It is estimated that from 2019 to 2020, Cambodia's GDP growth rate will continue to grow and remain at around 7%. It is called the Asian New Tiger by the Bank of Asian Development Bank. 

The Belt and Road beneficiary country

Cambodia is an important node of the Belt and Road in Southeast Asia. With its good geographical position, it is rapidly emerging and has become an emerging market in Southeast Asia. The 10-year development plan proposed by Cambodia and China's the Belt and Road Initiative are the best win-win points for China and Cambodia.

 Rapid urbanization

In recent years, Cambodia is in the process of rapid urbanization. 16.2% of people leave the countryside to find jobs every year. It is predicted that within 10 years, the population of Phnom Penh will grow by 133% to reach 7 million.