Phnom Penh (FN), Mar. 14 – Cambodian Prime Minister Hun Manet urged the private sector to unite rather than compete against each other, emphasizing that the country's small size makes individual competition unsustainable. He encouraged businesses to collaborate with ministries and state institutions, contributing ideas, efforts, and shared responsibility to enhance Cambodia’s competitiveness and appeal.
The premier spoke on Friday (Mar. 14) during the closing ceremony of the 2024 Cambodian Oknha Association annual meeting at Premier Centre Sen Sok in Phnom Penh.
Premier Hun Manet stated: “Let’s work together—think, act, and find solutions. The government will support where possible and be transparent where it cannot. I want the private sector and the state to be true partners in driving progress. Since becoming Prime Minister, I have addressed this in every forum: the private sector must think, act, and take responsibility. This collective effort is our national strength in enhancing Cambodia’s attractiveness and competitiveness.”
“Cambodia is a small country, and if we do not unite, we will only compete among ourselves and lose against others. Collaboration is key. This does not mean imposing rigid targets or conditions but rather agreeing on fair competition principles while working together to enhance our nation's appeal,” the premier added.
On the occasion, Samdech Thipadei Hun Manet urged investors to attract foreign partners to manufacture components and process locally sourced raw materials, strengthening Cambodia’s industrial production. He emphasized that private sector participation is vital to sustaining economic momentum, with Cambodia’s economy projected to grow by 6.3% in 2025, driven by export-oriented industries.
Samdech Thipadei Hun Manet expressed confidence in Cambodia’s economic outlook, projecting an average annual growth rate of 6.5% in the short to medium term.
Notably, Cambodia’s economic recovery is reflected in rising international trade, with total trade volume reaching nearly $55 billion in 2024—a 16% increase from 2023. Exports grew by 14% to approximately $26 billion, while imports rose by 16% to around $28 billion.
=FRESH NEWS
