2004年-世界发展银行全球_Seizing_the_Global_Opportunity___Investment_Climate_Assessment_and_Reform_Strategy_for_Cambodia_162页_13mb

Cambodia: Seizing the Global Opportunity - Investment Climate Assessment and Reform Strategy

Core Content

This report, prepared for the Royal Cambodian Government by the World Bank Group, outlines the investment climate assessment and reform strategy for Cambodia, emphasizing the need for policy reforms to support private sector development, economic diversification, and improved public service delivery. It was developed following extensive consultations with the government, development partners, and the private sector.

Main Objectives

The report aims to:

• Enable the private sector to lead growth.
• Help diversify the economy.
• Increase the role of the private sector in public service delivery.

Key Findings

Productivity and Growth

• Despite rapid economic growth, Cambodia's productivity remains low compared to its regional competitors (Bangladesh, India, China, Pakistan).
• Total factor productivity and labor productivity are particularly weak.
• Corruption, weak rule of law, informal practices, and complex regulations are key factors limiting productivity.
• Cambodia has one of the highest bribery rates among surveyed countries, with over twice the share of sales revenue paid in bribes compared to Bangladesh.
• The country has the most annual inspections, the highest cost per capita to register businesses, and the second-highest time spent by management dealing with officials.

Investment Climate

• The private sector is highly informal, especially in rural areas.
• Informality limits access to credit, trade with the formal sector, and long-term growth.
• The informal sector maintains high inventory levels to buffer against supply disruptions.
• The lack of integrated markets and formal institutions hampers the ability of firms to engage in competitive transactions and trade outside local markets.

Diversification

• The National Poverty Reduction Strategy (NPRS) emphasizes diversification, particularly through post-harvest agro-industry.
• Agro-industrial firms are largely constrained by local markets and personal relationships.
• There is a significant need for trade-supporting institutions to enable formal, arm's length transactions and reduce risk and cost.

Recommendations

The report proposes several reforms to improve the investment climate and support private sector development:

1. Streamline Trade Facilitation – Reduce clearance times and unofficial costs.
2. Remove Impediments to Diversification – Develop institutions to support trade and formal transactions.
3. Strengthen Rule of Law – Improve legal and regulatory environments.
4. Leverage Private Sector Value Chains – Enhance supplier development and integration.
5. Strategic Review of CamControl – Improve customs and inspection processes.
6. Enhance Governance for Private Participation in Infrastructure – Introduce competition and transparency.
7. Strengthen Institutional Learning – Support business associations and forums.
8. Accelerate Leasing and Access to Finance – Promote financial mechanisms that support growth.

Government Actions and Commitments

The Government has shown political will to implement reforms:

• Established a Special Inter-Ministerial Task Force on Trade Facilitation and Investment Climate.
• Introduced a Twelve Point Plan to improve the investment climate and trade facilitation.
• Reform measures include:
  • Establishing a cross-agency reform team.
  • Consolidating inspection mandates and introducing selective inspections based on risk.
  • Implementing a Single Administrative Document and Single Window process.
  • Automating information flows across agencies.
  • Streamlining business registration procedures.
  • Recognizing ethical behavior in the private sector.

These reforms are to be implemented urgently by December 2005 and are aligned with Cambodia's entry into the World Trade Organization (WTO).

Economic Overview

GDP Growth by Sector (1997-2003)

Employment Distribution (2001)

Poverty and Economic Impact

• Cambodia has a per capita income of $280.
• 36% of the population lives below the poverty line ($0.46–$0.63/day).
• 50.4% of children under age five are underweight.
• The garment sector has been a major driver of industrial growth, growing from $28 million in 1995 to over $1.35 billion in 2002.
• Manufacturing employs less than 9% of the workforce, while agriculture employs over 70%.
• Manufacturing jobs significantly reduce poverty incidence (4% vs. 80% in agriculture).

Conclusion

The report highlights the critical need for institutional and policy reforms to enhance the investment climate, support economic diversification, and improve public service delivery. The private sector, particularly in the garment industry, has played a pivotal role in economic growth and poverty reduction, but its potential is constrained by inefficiencies, corruption, and lack of integration with formal markets. The Government's commitment to reform, as evidenced by the establishment of the Special Inter-Ministerial Task Force and the Twelve Point Plan, is a positive step toward leveraging Cambodia's position in the global economy.