Cambodia Shares Experience on Informal Economy Development with Nepal

Cambodian Minister of Industry, Science, Technology and Innovation H.E. Hem Vanndy on Aug. 20 received a Nepalese delegation from various ministries-institutions keen to learn from Cambodia's experience in developing its informal economy. The Nepalese officials, facing similar challenges in their country, sought to understand Cambodia’s strategies for transitioning informal enterprises into the formal sector, a critical component of both nations' economic and social development efforts, according to the Ministry of Industry, Science, Technology and Innovation. Minister Vanndy outlined Cambodia’s efforts to tackle issues in the informal sector, emphasising the strong support of Samdech Moha Borvor Thipadei Prime Minister and the government's commitment to formalising these economic entities, which constitute a significant majority of the economy. The Nepalese delegation expressed particular interest in Cambodia’s approach to intra-governmental coordination and the development of digital platform for re gistration of the informal sector. H.E. Hem Vanndy advised the delegation on the importance of data collection and clear communication with stakeholders to ensure successful implementation. Source: Agence Kampuchea Presse