Prosperity: Expanding Economic Opportunities
The core objective is to support national transition towards upper middle-income status through sustainable and inclusive growth pathways. The Rectangular Strategy prioritizes transformation towards a greener, skills-based economy linked to innovation and the Fourth Industrial Revolution. UNDP signature solutions – (1) keeping people out of poverty, (4) sustainable planet, and (5) closing the energy gap – underpin the theory of change and programme formulation.
UNDP will maintain support for the CDC, Ministry of Planning and the Ministry of Economy and Finance (MOEF) to plan, finance, coordinate and monitor the NSDP, working with the support of Australia, the European Union and Sweden. This will include embedding tracking and accountability mechanisms within national and sub-national systems and programmes.
Maximizing equitable and green economic growth
The national industrial development policy provides a roadmap towards structural transformation, greater productivity, higher value-added and diversification. UNDP will continue partnering with the CDC to support implementation, recognizing that Cambodia is likely to begin preparations for graduation from least developed country (LDC) status in the next decade. UNDP will continue to work with ministries of Mines and Energy, Environment, and Economy and Finance to develop renewable energy solutions. Working with the private sector, UNDP will focus on de-risking solar investments.
Creating greater value and combating rural poverty
Upgrading agricultural value chains is essential to improving agricultural productivity and helping the rural poor become more resilient to external shocks. Using blended finance and working with the Ministry of Commerce (MOC), UNDP will facilitate improvements in farm-level productivity and profitability to expand and enhance value-chains and promote export diversification, especially in the cassava sector. UNDP will support government efforts to meet the national Goal 18: end the negative impact of mines and explosive remnants of war, and promote victim assistance. Working with the Cambodian Mine Action and Victim Assistance Authority (CMAA), with the support of Australia, Canada and Switzerland, UNDP will support making land safe and productive. UNDP will develop graduation-based models of social protection to help end extreme poverty by boosting household productivity.
Upgrading the skills of the next generation
To maximize the demographic dividend, remain competitive, and ensure growth stays inclusive, working age people need to be able to access skills training while remaining in employment. With Switzerland, Sweden, United Nations organizations, and research organizations, UNDP will strengthen the capacity of the Ministry of Labour and Vocational Training (MOLVT) in policy-focused research, information management, innovation, monitoring and communications. UNDP will work with the National Employment Agency (NEA) and private sector on expanding work opportunities for young people, through entrepreneurship and using innovative tools and media.
Recognizing women’s contribution and securing their economic empowerment
In collaboration with the Ministry of Women’s Affairs, Sweden and the Cambodia Development Resource Institute (CDRI), UNDP will provide a gender-based analysis of the national economy to inform gender equality policies and enhance economic performance. UNDP will sponsor initiatives to empower women and girls as entrepreneurs and within the labour market.
Leveraging private finance
UNDP will deepen its Goals-related engagement with the private sector and chambers of commerce, including the expansion of social impact finance. UNDP will work with the Phnom Penh Special Economic Zone (PPSEZ) on low-cost housing, clean energy, waste recycling and upgrading skills through the Sustainable Special Economic Zones initiative.