The government wants to play a bigger role in helping local businesses remain competitive and, to this end, the Ministry of Industry, Mines and Energy (MIME) has launched a new award to recognise companies that have achieved high produc-tivity standards.
Ten companies will be awarded in September this year under the initiative, called the 5S Productivity Award. 5S is a Japan-based workplace organisation method – which will also be used as judging criteria – focusing on increasing efficiency and safety through methods such as “sorting”, or eliminating unnecessary processes, and “standardising”, or keeping procedures simplified. …
Cambodia’s economic growth could surpass previous estimates and hit 8.7% this year, Prime Minister Hun Sen said in a speech yesterday.
Earlier government forecasts estimated growth of 6% for 2011, though increasing garment exports and a strong recovery in the tourism sector have stimulated the economy above expectations, according to the prime minister.
“We originally projected the economic growth rate at 6% for the year. However, two months ago, the National Institute of Statistics predicted growth of 8.7%,” he said at a ceremony for the National University of Management students at the Diamond Island Exhibition Center.
However, the prime minister highlighted the Kingdom’s need to diversify its exports in light of the economic uncertainty facing the European Union and United States… “Depending on garment and footwear exports and the tourism sector alone is not enough to sustain the country’s economic growth…” he said.
(May Kunmakara, p.1)