Phnom Penh (FN), Nov. 23 – Cambodian Prime Minister Hun Manet presented four insights on global trends for discussions on Thursday (Nov. 23) during Cambodia Outlook Conference 2023 at Sokha Hotel Phnom Penh.

The premier highlighted several key observations related to the evolving global environment:

1. A significant shift from a monopolistic economic design and global governance to the emergence of a multipolar system.

2. Increased reliance on the regional economy for driving development, particularly as major economies experience lower growth and deeper integration.

3. Growing momentum in digital advancements, especially in artificial intelligence, presenting opportunities for enhanced productivity, shortened learning durations, and widespread short-term deployment.

4. Challenges in securing funding for development amid tightening monetary policies, particularly affecting middle-income countries. Issues include insufficient size and poor coordination among various actors, including multilateral, bilateral, and private entities.

Samdech Thipadei underscored that Cambodia's open economy makes it susceptible to both positive and negative changes from external factors, impacting its medium-to-long-term growth potential.

On the occasion, the premier envisions the conference as a platform for honest and constructive exchange of ideas, encouraging active participation in discussions and joint responsibility for Cambodia's future.

At the same time, Samdech Thipadei expressed the desire for the study by the Cambodia Development Resource Institute (CDRI) to go beyond raising awareness. He expects it to serve as a key reference document for collaboration with the Royal Government in developing strategic plans and policies including addressing current and future challenges, such as Cambodia's graduation from least developed country status by 2027, strengthening and diversifying the economic base, and building socio-economic resilience to achieve Cambodia's long-term vision.