The Asian Vision Institute (AVI) took part in a virtual panel discussion entitled the “Cambodian Economic Outlook 2021” to discuss the successes and challenges faced by the pandemic as well as the outlook for 2021.
The panellists included Nick Beresford, UN Development Programme country representative for Cambodia, Ngo Ravindra international speaker for the World Economic Forum, Chheng Kimlong, president of the AVI, and Lay Sok Heng, deputy director of economic research at the National Bank of Cambodia (NBC).
When asked about how the pandemic had affected Cambodia, Beresford said the first thing to address is how successfully Cambodia has dealt with controlling the virus and protecting public health.
“When it comes to community transmission, it has been very well contained. I say that first because you cannot separate health from the social and economic. Some countries had to learn the hard way that maintaining the health of the population is the smartest economic policy. [However] Cambodia is a very open economy which is very dependent on trade. So, what is unusual about the detrimental impact of the pandemic on Cambodia is its impact has been as much a supply shock as well as a demand shock.”