Ken Loo, secretary-general of the Garment Manufacturers Association in Cambodia, said the garment-textile sector in 2020 will depend much on the outcome of the decision of the European Union on the Everything But Arms (EBA) trade deal.
“If the EBA is retained, our sector should be able to continue to experience growth,” he said.
“We should continue to see a revival in exports to the USA – our exports should continue to experience decent growth to the USA. We expect to see more investors in both garment and travel goods next year.”
He added that the sector will continue focusing on improving productivity and efficiency as well as invest more in training and increasing skills for workers.
Meanwhile, In Channy, president and group managing director of ACLEDA Bank and president of the Association Bank of Cambodia (ABC), said the financial sector performed well in 2019 and it will continue enjoying a healthy growth rate in 2020 thanks to political stability and favourable macro-economic situation.
“In 2020, we foresee that the outstanding loans and deposits will increase around 10 percent and 12 percent respectively. The growth will depend solely on the overall economic growth, peace and stability. Our growth plan is dependent on the economic growth of Cambodia,” he said.
Ha Jong Weon, vice-chairman and chief operations officer of the Cambodia Securities Exchange (CSX), said the CSX performed well in 2019. The daily average trading was US$73.55 million in the first 11 months of 2019, while it was only $2.92 million in the same period of 2018, he cited.
“Our mission in 2020 is to find a tech company to join the stock market,” he said.