Student Archive | Research Series | January-June 2023
Linna Eng, Jessica Ea, Khyleng Sim, Putheavidh Loeung, Students, Bachelor of Accounting and Finance, CamEd Business School
ABSTRACT
The Cambodian garment industry has seen rapid growth over the past decades, which has also lifted many Cambodians out of poverty. As a result, Cambodia became a good source of low-cost clothing manufacturing due to its favorable trade agreements and low labor costs. This extra source of revenue contributed significantly to the growth of the Cambodian economy, especially by providing employment opportunities for Cambodian women, which led to the reduction of poverty and rising living standards. On the other hand, there are major issues stemming from the industry as well, such as environmental pollution, labor abuse, and a lack of competitiveness. The Cambodian government has recognized the issues and has drafted several plans to improve the industry. Moreover, some other recommendations from other authoritative organizations, such as the IFC and EuroCham, highly encouraged improving our infrastructure, improving energy costs, and diversifying.
Keywords: Market demand, international market, garment
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