Intellectual Property, A Key Tool To Promote Trade, New Businesses And FDI

Phnom Penh, May 02, 2024 --

Intellectual property is an essential tool for promoting trade in goods and services, new businesses and micro, small and medium enterprises, and foreign direct investment (FDI) through value added, commercialisation, creation of source of finance, innovation promotion, and research and development through technology transfer.

The remarks were made by H.E. Mrs. Cham Nimul, Minister of Commerce and Chair of the National Committee for Intellectual Property, while she and H.E. Hem Vanndy, Minister of Industry, Science, Technology & Innovation, were presiding over the World Intellectual Property Day 2024, at Hyatt Regency Phnom Penh on April 30.

The commerce minister also requested all stakeholders to work together to prevent intellectual property infringement, which is an obstacle to innovation, and strongly hoped that the Intellectual Property Day 2024 will continue to cultivate a common spirit in promoting awareness raising campaigns, which is closely linked to the people’s lives and benefits all areas of society.

For his part, H.E. Hem Vanndy spoke highly of the World Intellectual Property Day, saying that it serves as an important platform to raise awareness about intellectual property, technological advancement and innovation among the public, especially innovators, researchers, and students.

At the end of the celebration, H.E. Mrs. Cham Nimul and H.E. Hem Vanndy presided over the launching ceremony of five intellectual property-related projects, including: 1) Inclusive Growth Project: Promoting Cambodian Entrepreneurs with Disabilities through Intellectual Property Education and Business Branding, (2) Project for Skill-based Learning and Mentoring for Design School, (3) Launch of IP Web Application, (4) Launch of Distance Learning Platform on Intellectual Property, and (5) Launch of Intellectual Property Analysis Programme for Business.

This year’s celebration of the World Intellectual Property Day 2024 was held under the theme “IP and SDGs: Building our common future with innovation and creativity.”