Cambodia on track to reach IDP goal by 2025

Cambodia is on track to reach its industrial development policy (IDP) goal by 2025, according to a report. In 2015, the Cambodian government introduced a 10-year IDP 2015-2025, aiming to increase the share in the industrial sector to 30% of the GDP by 2025. The policy also aim to register small and medium enterprises up to 80% and 95%, respectively, by 2025 with 50% and 70% of them with proper accounting records and balance sheets. According to the report, the official registration of small, medium and large enterprises increased from 37%, 72% and 93% in 2010 to 76%, 87% and 98% in 2018, close to the 2025 target. The report also shows that the industrial sector gross value added to GDP ratio increased from 27.7% in 2015 to 32.6% in 2018, beyond the target set in 2015. (Source: khmer Times)