The Pentagonal Strategy is a new development strategy for Cambodia, launched by the Royal Government of Cambodia on August 24, 2023. It aims to foster economic growth, job creation, equity, efficiency, and sustainability over the next 25 years.
Pentagonal Strategy Cambodia
The strategy is divided into five phases, each lasting five years. The first phase, which is currently in effect, focuses on building the foundation for Cambodia’s future development. This includes strengthening governance, investing in human capital, and developing the private sector.
The other four phases of the Pentagonal Strategy are:
- Phase 2 (2028-2033): Accelerating growth and development
- Phase 3 (2033-2038): Becoming an upper-middle-income country
- Phase 4 (2038-2043): Becoming a high-income country
- Phase 5 (2043-2048): Becoming a global hub for sustainable development
The Pentagonal Strategy is ambitious, but it is also realistic. It takes into account the challenges that Cambodia faces, such as poverty, inequality, and climate change. However, it also builds on Cambodia’s strengths, such as its young population, its strategic location, and its commitment to peace and development.
The Pentagonal Strategy is a major turning point for Cambodia. It is a sign that the country is serious about its future and that it is committed to becoming a prosperous and sustainable nation.
Here are the five key priorities of the Pentagonal Strategy:
- Build human capital: This includes investing in education, healthcare, and skills development.
- Diversify the economy and enhance competitiveness: This includes promoting exports, attracting foreign investment, and developing new industries.
- Develop the private sector and employment opportunities: This includes creating a favorable business environment and providing support to small and medium-sized enterprises.
- Promote resilience, sustainability, and inclusive development: This includes addressing climate change, protecting the environment, and reducing poverty and inequality.
- Strengthen the digital economy and society: This includes investing in information and communications technology, and promoting digital literacy and skills.
The Pentagonal Strategy is a comprehensive and ambitious plan for Cambodia’s future. It is a testament to the country’s commitment to peace, development, and prosperity.
Full Pentagonal Strategy: https://mfaic.gov.kh/files/uploads/1XK1LW4MCTK9/EN%20PENTAGONAL%20STRATEGY%20-%20PHASE%20I.pdf