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MoSVY Sec State Supports Establishment of Business Clubs That Contribute to Growth

PHNOM PENH: The Secretary of State of the Ministry of Social Affairs, Veterans and Youth Rehabilitation (MoSVY), Em Chan Makara, has spoken in support of the establishment of business clubs that can contribute to the development of the country.

Presiding over the opening ceremony of a training course on business welfare and business governance at KC Market in Phnom Penh on Sunday afternoon, 12 February 2023, Secretary of State Em Chan Makara shared that the government pays great attention to promoting trade, both locally, and globally. He added that recently, when the Prime Minister of Cambodia visited China and attended the Cambodia-China Business Forum, he called for more Chinese investment in Cambodia.

The MoSVY Secretary of State said that in the context of such strong government support, the establishment of business groups will also provide many opportunities, and will be stronger than isolated trade.

"Unity is what I support,” he said. "I remember the former King said that if the Khmer [people] do not unite, [they will] die, but if the Khmer [people] unite, [they] will live and develop."

Vmove Club Honorary President, Khit Chhoeun, said that one of the potential weaknesses of a business is the isolation of the businessman. He said that when businessmen gather together, they can generate many new investment ideas to participate in national development.

Vmove Business Club was established to bring together local and foreign business people who aim to share ideas and help each other in investing in Cambodia.

Vmove Board Chairman, Heam SunAnn, said that Vmove is moving forward and gaining momentum. He added that in recent weeks, his club has contacted many foreign investors, including those from Korea interested in Cambodian agricultural products, those from Singapore interested in investing in the financial sector, and investors from other countries such as Malaysia and the United Arab Emirates who also express interest in investing in Cambodia.

Secretary of State, Em Chan Makara, also presided over the signing of a Memorandum of Understanding between Vmove Club and the Commercial Arbitration School.

He remarked that setting up a business club is easy, but maintaining sustainability is difficult and suggested that the club should have a clear structure and business plan, and make sure to study vulnerabilities to identify the club’s strengths, weaknesses and opportunities to become stronger and make more progress.

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