March the start date for economic survey
March the start date for economic survey
The Ministry of Planning is set to conduct a once-in-a-decade survey beginning in March to gather more accurate data on economic entities in Cambodia, more than 745,000 of which were listed in official registries as of last year.
Speaking at a training course on data collection for the economic survey on February 15, ministry permanent secretary of state Rin Virak on February 15 underlined the importance of training interviewers, supervisors and new trainers for the undertaking.
He said data would be collected on businesses engaged in production and service activities, in fields such as minerals, manufacturing, electricity and gas, clean water and sanitation, and others as determined by UN international standards.
Hang Lina, director-general of the ministry’s National Institute of Statistics, likened the survey to a population census, saying officials will interview all economic entities that register by March 1, which she noted would be categorised by operations such as sales and by locality.
The ministry recorded 745,141 economic entities as of last year, she said, adding that officials have been deployed to register more, with 150 interviewed for the upcoming survey.
“The economic survey is indispensable, as the compiled data will facilitate the formulation of policies to address the 2030 sustainable development goals, as well as assessments of whether the Cambodian economy is able to fulfil plans of attaining upper middle-income status,” Lina said.
Cambodia Chamber of Commerce vice-president Lim Heng said the survey will provide essential information for domestic and foreign players to gain valuable insight into the state and direction of the economy, identify potentially lucrative sectors where resources are lacking, and more effectively determine what types of investments are needed.
Businesses today tend to merely follow in the footsteps of others, leading to market disequilibrium, he said, adding that the survey could help highlight the strengths and weaknesses in each field, and provide a better guide for investors to study markets, by region, where demand significantly outstrips supply.
The economic survey is conducted every 10 years, and results of this year’s will be compiled in 2023.
