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Garment sector credited for recognition as mini-tiger economy
28 Aug '10
1 min read
On the back of a roaring success in the garment export sector, Cambodia's economy has been considered as a 'mini-tiger', according to a report drawn up by Swiss banking giant UBS, on emerging markets.
This has happened the report adds, despite a lack of attention from international investors. The report which has been compiled by the Securities Asia division of UBS adds that, Cambodia was one of the largest beneficiaries of the decade's globalization boom.
Of the 80 emerging countries surveyed by the bank, only six – Cambodia, the Czech Republic, Hungary, Slovak Republic, Thailand and Vietnam, recorded more than a 25 percent increase in manufacturing exports as a share of GDP from 1997 to 2008.
Reacting to the news, Ken Loo, Secretary General of the Garment Manufacturers' Association said that with wages for garment workers rising in China and Vietnam, Cambodia stood to attract additional interest from investors.
This has happened the report adds, despite a lack of attention from international investors. The report which has been compiled by the Securities Asia division of UBS adds that, Cambodia was one of the largest beneficiaries of the decade's globalization boom.
Of the 80 emerging countries surveyed by the bank, only six – Cambodia, the Czech Republic, Hungary, Slovak Republic, Thailand and Vietnam, recorded more than a 25 percent increase in manufacturing exports as a share of GDP from 1997 to 2008.
Reacting to the news, Ken Loo, Secretary General of the Garment Manufacturers' Association said that with wages for garment workers rising in China and Vietnam, Cambodia stood to attract additional interest from investors.
Fibre2fashion News Desk - India
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