Duration: 1 hour
EuroCham’s Human Resources Committee successfully hosted its second edition of the HR Forum on 25 April 2024, a flagship event under the theme “Pathways to Success“, hosted at Oakwood Premier Phnom Penh. The forum brought together industry leaders, policymakers, and HR experts to discuss and highlighted some of the key changes in the human resources landscape in Cambodia, including the importance of good HR practices, skills development, and workforce training initiatives.
The full day session covered legal and policy updates, Cambodia’s recent economic progress, the skills gap, and investing in quality of employees. Among the honoured speakers was H.E. Mr. HENG Sour, Minister of Labour and Vocational Training, who provided opening remarks for the full-day forum. He emphasized that the government has prioritised improving human resources in its Pentagonal Strategy. “Keep investing in your staff, that makes the business still relevant and up to date. If you do not invest in your people, you will not be able catch up to the latest knowledge and technology and networking. That is why many people believe that investing in your staff is not an experiment, but an investment. There will be a return on your investment, so please do not stop investing in your staff.” he said.
Dr. Antoine Fontaine, Vice-Chairman of the Human Resources Committee, Founding Partner of ANANT Law Firm, and Vice-Chairman of CAMFEBA, provided updates on foreign employment in Cambodia, social protection measures, minimum wage adjustments, termination contracts in case of insolvency, and forthcoming regulations.
Mr. Faya Hayati, Senior Economist, Macroeconomics, Trade & Investment, World Bank, presented on Cambodia’s economic progress and the role of human capital for its future. The afternoon session of the forum centered on a skills gap assessment by Mr. Zandre Van Straten, Service Coordinator of EuroCham Cambodia. Mr. Van Straten presented survey results on skills gaps in the workforce and promoted training programmes co-financed by Swisscontact and the Skills Development Fund. In a recent survey
conducted by EuroCham and Swisscontact, it was revealed that 74% of businesses in Cambodia are facing challenges due to skills gaps, while nearly 50% lack clarity on available training support. “To sustain Cambodia’s current pace of economic growth, we are supporting the development of training proposals which will be co-financed by the Skills Development Fund (SDF), and EuroCham’s in house Training Academy will provide customized and subsidized training solutions aimed at addressing
these critical labour needs”, he said.
Mr. Narath CHHEAV, Chairman of the Human Resouces Committee, said: “Investing in people not only results in a more skilled, productive, and engaged team, but it also leads to higher employee retention and loyalty. When employees understand that their employer cares about their professional development, they are more likely to be engaged and committed to their work