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Private sector indispensable partner in development: PM

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HIgh-rise buildings stand along the river in Phnom Penh in April. Hong Menea

Private sector indispensable partner in development: PM

Prime Minister Hun Sen has said stakeholders need to further strengthen Cambodia’s private sector, which was an indispensable partner contributing greatly towards the development of the Kingdom.

Hun Sen made the remark at the inauguration of the multi-specialised “Techo Aphivadh Building” at Calmette Hospital in Phnom Penh on May 23.

“The Cambodian private sector made significant donations towards the construction and equipping of this building, so I would like to see the Kingdom’s private sector strengthened.

“The private sector has contributed to national development by creating jobs, with their profits also playing a part in the development of the education, health and other sectors.

“During the fight against Covid-19, the private sector joined with us to buy hospitals and with the purchase of vaccines, which highlights the need for us to work together,” Hun Sen said.

The prime minister said the global economy, as well as Cambodia’s, had not improved as much as expected after the Covid-19 pandemic due to the Russia-Ukraine war, with sanctions slowing growth.

“Sanctions create problems. They not only hurt the country being sanctioned, but also the country imposing the sanctions. And our country, which isn’t involved, is also affected.

“This is why the economy is not yet good enough, and so we need to strengthen our country’s economy by taking the right measures along with boosting growth,” he said.

Cambodia Chamber of Commerce (CCC) vice-president Lim Heng said the private sector and the state were inseparable, with both indispensable partners in boosting national economic development.

“The private sector in Cambodia has always enjoyed good cooperation with the government.

“Whenever the prime minister goes abroad for meetings or discussions, the Cambodia Chamber of Commerce, chaired by Neak Oknha Kith Meng, acts as a secretariat providing advice.

“It also takes the opportunity to meet with the private sector in that country and hold business discussions focusing on attracting investors from that country to invest in Cambodia,” Heng said.

The government had often in the past shown its commitment to a healthy private sector by providing various incentives, such as on tax, and helping resolve problems it had faced, he added.


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