Pentagonal Strategy-Phase I Focuses on Five Key Priorities

Phnom Penh, August 24, 2023 --

The Royal Government of Cambodia (RGC) of the 7th Legislature of the National Assembly has launched the Pentagonal Strategy-Phase I for Growth, Employment, Equity, Efficiency and Sustainability: Building the Foundation Towards Realising the Cambodia Vision 2050, as the socio-economic policy agendas to effectively implement the “Political Platform”.

The launch of the new strategy took place during the first plenary session of the Council of Ministers for the 7th Legislature of the National Assembly, held under the chairmanship of Prime Minister H.E. Kitti Tesaphibal Pundit Hun Manet, at the Peace Palace in Phnom Penh this morning.

H.E. Kitti Tesaphibal Pundit said the strategy has Five Mottos, Five Strategic Objectives, and Five Key Priorities.

The Five Mottos included, growth, employment, equity, efficiency, and sustainability, while the Five Strategic Objectives are 1. Ensuring crisis-resilient economic growth of around 7 percent per year on average; 2. Creating more jobs, both quantity and quality, for Cambodian people, especially for the youth; 3. Achieving the poverty reduction targeting of below 10 percent and continuing to keep the poverty rate to a minimum level; 4. Continuing to strengthen governance capacity and improving the quality of public institutions, both national and sub-national, to ensure efficiency of public services, continue to strengthen private sector governance, and continue to promote a favourable environment for business, investment, and trade; and 5. Ensuring sustainable socio-economic development and building resilience to climate change.

“With Five Mottos and Five Strategic Objectives as stated above, the RGC identifies Five Key Priorities for this strategy, namely People, Road, Water, Electricity, and Technology that are clearly reflected in the Strategic Pentagons in the whole structure of the strategy,” he underlined.

H.E. Kitti Tesaphibal Pundit Hun Manet said that overall, the structure of the Pentagonal Strategy-Phase I has Core of the Strategy: to reform and strengthen governance, Overarching Environment: to ensure a conducive environment for the implementation of the entire strategy, and Five Strategic Pentagons: to promote economic growth and social progress.