Duration: 1 hour
The EuroCham team and the Automotive Committee met with H.E. Mr. Hem Vanndy, Minister of the Ministry of Science, Technology, and Innovation and his team on 16th October to discuss common ground and share each other’s vision for helping improve the business climate in Cambodia.
Key areas of discussion included:
✔️ Finding ways to ease regulation and cut red tape to streamline processes and increase investor confidence in Cambodia as it nears the end of its LDC status.
✔️ Encouraging more professionals, especially SMEs, in the informal sector to formalize their businesses and grow with the support of the government and organisations such as EuroCham.
🎤 “The formal and informal sector need to work together and now you have a government that is willing to be a bridge… You cannot build an economy based on a small formal sector and a very large informal sector,” His Excellency said.
✔️ This ecosystem can allow Cambodia to produce more domestically, relying less on imports while strengthening industry at home.
✔️ Combatting the grey market in the auto sector and enforcing standards to encourage automakers like Mercedes to return to the Kingdom
His Excellency Mr. Hem Vanndy was presented with an English and Khmer version of the White Book by Chairman Tassilo Brinzer, after Senior Advocacy Officer Joachim Dautais gave a detailed explanation on the accompanying Advocacy Compass, which aims to streamline information exchange between the public, the private sector, and the public sector.
As mentioned by Executive Director Martin Brisson, EuroCham stands ready to help the Kingdom grow through its varied business service offerings, such as this week’s CSR events, which showcase best sustainable practices and champions leaders in the sustainable business community.