Phnom Penh (FN), May 2 – Cambodian Prime Minister Hun Manet said that enhancing citizens' livelihoods is not only about increasing income, but also reducing expenses.

The premier spoke on Thursday (Apr. 5) during an inauguration of Toyota assembly plant in the Royal Group Phnom Penh Special Economic Zone.

Samdech Thipadei highlighted Cambodia's transformation from being an importer of various goods to becoming a producer of its own materials and products. Cambodia has the capability to manufacture cars for the market, although through foreign companies rather than domestic ones. The products manufactured in Cambodia boast high quality and affordability, aligning with the Royal Government's objectives to cater to the needs of the Cambodian people.

"To improve the living standards of the people, it's crucial not only to raise their salaries but also to control their expenses, enabling them to afford more and allocate funds for other purposes. Therefore, maintaining a stable inflation rate annually is of utmost importance," the premier underscored.

On the occasion, the premier elaborated that if the prices of goods were to increase by 30 or 40 percent within a year, it would pose significant challenges. Therefore, the Royal Government consistently strives to ensure that salary increments are feasible while making essential products accessible to the people.

Samdech Thipadei also voiced optimism, foreseeing continued investment attractiveness in the kingdom's skilled labour force, bolstered by peace, political stability, and robust macroeconomic conditions. This, he believes, will sustain and attract further investment in industries reliant on such skills.
=FRESH NEWS