Phnom Penh (FN), Jun. 27 – Cambodian Prime Minister Hun Manet stated that he will continue to encourage and support the private sector, but reminded them not to assume that the government will always favour them.

The premier spoke on Thursday (Jun. 27) at the celebration of the first National Day of Micro, Small, and Medium-sized Enterprises (MSME Day 2024), held at Diamond Island Convention and Exhibition Centre.

"The Royal Government of Cambodia continues to strongly encourage and support the private sector, offering significant assistance during these challenging times. However, I urge the private sector not to rely indefinitely on government favours. A mindset dependent on perpetual state support hinders progress and innovation,” the premier underlined.

Samdech Thipadei mentioned Cambodia's goal to achieve prosperity by 2050. He stressed the importance of transitioning from a least developed country by 2029, which will entail losing certain export preferences and facing reduced international lending. To achieve prosperity, Cambodia must strengthen itself and not rely indefinitely on favours from other countries.

"This is a crucial task, and I believe the private sector must exert itself. While the government will provide assistance, I urge the private sector to enhance its capacity to become a larger, more robust player," the premier added. "Enhancing small and medium enterprises will be pivotal for bolstering the private sector and ensuring a strong economy in the future."
=FRESH NEWS