Related Keywords: 5 percent this year, annual Cambodia Textile Summit, Cambodia, compared with 7 percent last year, cost of doing business, Garment Manufacturers Association Cambodia, increase productivity, loosing competitive advantage, low-cost destination, minimum wage hike, remain competitive in foot loose industry, see a slower percentage of growth
Cambodia likely to see a slower percentage of growth, at around 5 percent this year compared with 7 percent in 2016, Ken Loo, secretary-general of the Garment Manufacturers Association in Cambodia said at the annual Cambodia Textile Summit.
According to data from the Customs Department, Cambodia exported $7.3 billion worth of apparel and footwear products in 2016. The sector accounts for more than 70 percent of the country’s total exports with the vast majority of its products destined for the EU, US and Canada.
