Cambodia Aims for High-Income Status Through Three-Year Rolling Investment Program

Phan Sophal, Deputy Governor of Kampong Cham Provincial Administration, stated that the sub-national three-year rolling investment program is a vision to transform Cambodia into an upper-middle-income country by 2030 and a high-income country by 2050. He made these remarks on the morning of September 9, during a workshop on the integration of the three-year rolling investment program (2027-2029) for the administration of communes and districts in Cheung Prey district, Kampong Cham province. He emphasized that effective local development involves local authorities and institutions preparing clear development plans, consulting with all relevant parties, and integrating resources from all stakeholders. The sub-national investment program is a component in achieving the vision of transforming Cambodia into an upper-middle-income country by 2030 and a high-income country by 2050. Phan Sophal further clarified that the process of preparing plans and investment programs at the sub-national level is a crucial step in supporting the achievement of long-term national development vision. The seventh legislature of the National Assembly, under the leadership of Prime Minister Samdech Thipadei Hun Manet, has launched the first phase of the "Pentagonal Strategy," focusing on growth, employment, equity, efficiency, and sustainability, with the aim of transforming Cambodia into an upper-middle-income country by 2030 and a high-income country by 2050.