Consultancy firm says Cambodia’s high vaccination rates has economy on track for 6%+ GDP growth rate next year

The Phnom Penh based investment & consultancy firm Mekong Strategic Partners have published a report highlighting Cambodia’s ultra-high levels of vaccination rates. The report concluded that the economic evidence is clear that high vaccination rates improve economic outcomes as well as health outcomes – Cambodia is on track for >6% GDP growth in 2022.

According to the report titled Vaccination Nation: Unmasking Cambodia’s Vaccination Success Cambodia should complete its vaccine program 8 months ahead of plan and up to 12 months before neighboring countries. Cambodia is now one of the first countries in the world to be rolling out booster shots and vaccinating children.

“This report shows how Cambodia has outperformed virtually all developing countries and many developed countries, and is on track to complete its program around eight months ahead of schedule, it says.

“The success of the program means Cambodia has now been able to start vaccinating teenagers, and providing booster shoots. While the Delta strain remains a threat, Cambodia is well placed to manage it, and return to some degree of normality much sooner than its neighbours it added.

Cambodia’s international business community remain ‘bullish’ on the local economy despite the recent GDP growth downgrade citing an ultra-fast vaccination drive and multiple bilateral and multilateral trade agreements to be implemented next year.

Gross Domestic Product (GDP) growth is forecasted to be 2.5% this year, down from the previous projection of over 4%, according to the government news outlet AKP. The downgraded has been forecast as investors ‘wait and hold’ due to ongoing COVID border and business restriction causing uncertainty in Cambodia’s economy.

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