The Cambodian Ministry of Finance and Economics launched the new “2022-2027 Cambodian Clothing, Footwear and Travel Products Industry (GFT) Development Strategy” in late March 2022, with the purpose of integrating the above industries Transform and upgrade to a high value-added manufacturing industry and establish a sustainable and environmentally friendly production chain strategy to respond to the development trend of environmental protection or sustainability. The new strategy is expected to solve the structural problems of Cambodia’s GFT industry and promote the development of Cambodia’s GFT industry and sustainable economic growth.
The United Nations Environment Program (UNEP) lists statistics in recent years that show that the clothing and textile industry has a great impact on the environment. The above statistics also affect public opinion and consumer purchases. habits, choosing more products that meet higher standards and accountability, thus prompting more brand companies to require suppliers to increase their environmental protection efforts in response to consumers’ increasing environmental awareness.
Cambodia’s Ministry of Finance and Economics stated that Cambodia’s clothing, footwear and travel supplies manufacturing industry will export US$11.38 billion in 2021, an annual increase of 15.2%, and is an important pillar of Cambodia’s economic growth. . Although the industry continues to grow, its structure over the past 30 years has remained a low-value-added manufacturing center with limited integration with international supply and value chains, especially in terms of environmental protection or environmental sustainability, which requires policy changes provide additional assistance.
Cambodia’s Ministry of Finance and Economy pointed out that the responsibility of environmental sustainability, such as the use of renewable energy in the production process, is being concerned by international buyers and brand clothing companies. The crisis caused by the COVID-19 epidemic and its disruption to regional and global production and value chains have also brought further challenges and pressures. Therefore, the new strategy is to prepare for the future development of Cambodia’s clothing, footwear and travel goods manufacturing industry. In addition to continuing to strengthen the management of the internal development of the industry, it also adjusts the overall industry to respond to regional and global requirements for environmental sustainability.
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