PHNOM PENH: Prime Minister Hun Sen has shared seven important considerations and directions in the recovery of the Cambodian economy in line with the 'new normal' path 2021-2023.
Speaking at the 2022 Cambodia Outlook Conference on Thursday morning, 6 October, the Prime Minister shared seven key considerations to prioritize the resilience of the national economy as set out in the "Strategic framework and programs to restore and promote Cambodia's economic growth in living with Covid-19 in the new normal path for 2021-2023."
The seven main ideas and goals of the Royal Government, such as through the provision of vaccines, are to promote investment in the health sector to create a strong health system in Cambodia, as well as continue to strengthen the social assistance and social security system and expand coverage, especially by encouraging people in the informal economy to enter the system for protection.
Another is to develop human resources, both in knowledge and skills, by changing the structure of the economy from depending on low-skilled labor to one which depends on high-skilled labor and technology.
At the same time, the development of small and medium enterprises is a top priority, for which technical and financial support will be provided, as well as improving the business environment and encouraging systemic economic participation.
Cambodia must also seize great opportunities by promoting the better implementation of the "Digital Economic and Social Policy Framework of Cambodia 2021-2035," and the "Digital Government Policy of Cambodia 2022-2035."
Additionally, promoting the development of a green economy and climate resilience by supporting the expansion of cooperation on building green infrastructure, promoting energy transition, and the use of green technologies, should also be a main priority.
Finally, the stabilization of financial integration as well as the development of a resilient financial sector as a whole, and the integration of a single component with the participation of the private sector, is an important factor for the future socioeconomic development of Cambodia.
