National Strategy for Informal Economic Development to Achieve Three Goals at Once

Phnom Penh, October 10, 2023 --

The launch of the National Strategy for Informal Economic Development 2023-2028 will achieve three goals at the same time, i.e. alleviating poverty and social inequality, strengthening social and economic resilience, and boosting economic growth.

The remarks were made by Samdech Moha Borvor Thipadei Hun Manet, Prime Minister of the Kingdom of Cambodia, at the official launching ceremony of the National Strategy for Informal Economic Development 2023-2028, held at Sokha Phnom Penh Hotel this morning.

The Premier added that the National Strategy focuses on improving the lives of the people, which aligns with the main goal of the Royal Government of Cambodia.

The aim is to encourage people in the informal economy to register to be in the formal one so that the Royal Government is able to manage data clearly and to put in place interventions quickly and effectively on time and on target," Samdech Thipadei Hun Manet explained.

An informal economy (informal sector or shadow economy) is part of any economy that is neither taxed nor monitored by any form of government.