Phnom Penh (FN), Dec. 16 – Cambodian Prime Minister Hun Sen said that by registering informal economy workers, the Royal Government will gain access to essential data, enabling it to provide targeted and rapid support, particularly during crises such as natural disasters or pandemics.

The premier spoke on Monday (Dec. 16) at the launching of the digital platform for informal economy registration, held at Sokha Phnom Penh Hotel.

Samdech Thipadei compared the registration of informal economy workers to a key that opens the door to formal financial services. This includes access to credit or investment capital from financial institutions to expand businesses, thereby avoiding reliance on informal loans with high interest rates. Additionally, registered informal workers can open savings and merchant accounts with financial institutions, as specified in the National Bank of Cambodia’s circular issued on 9 October 2024.

The premier highlighted another significant benefit of registration: the ability to become a member of the National Social Security Fund (NSSF) under specified conditions, facilitating easier contributions and access to healthcare benefits for workers and their families.

Samdech Thipadei noted that the Royal Government has already expanded the Equity Fund programme to assist vulnerable families and targeted informal economy groups. The NSSF scheme has been extended to cover public sector employees, self-employed individuals, dependants of NSSF members, and the general public on a voluntary basis. Combined with other social assistance initiatives, these programmes currently cover over 7.3 million people.

“By registering informal workers, the Royal Government can access data to provide timely and targeted support, especially during crises such as the COVID19 pandemic. In short, the Royal Government can assist effectively by knowing who you are and where you are,” the premier underscored.

Prime Minister Hun Manet further explained that registration will also enable informal workers from poor and vulnerable families to receive free healthcare through the Health Equity Fund at state hospitals nationwide. This is a crucial step towards achieving universal health coverage, a cornerstone of the Government’s vision for national development based on equity, inclusion, and resilience.

Meanwhile, Prime Minister Hun Manet stressed that the digital registration system is designed to assist, not burden, informal workers. Participation is entirely voluntary, with no coercion, and measures are recommended to prevent exploitation that goes against the Government’s objectives.

The prime minister encouraged informal economy workers to register and take advantage of the benefits available, which aim to improve living standards and contribute to national economic development.
=FRESH NEWS