During the recent inauguration of the Cambodia Confederation of Investors Association (CCIA) at Diamond Island Convention and Exhibition Centre, Cambodian Prime Minister Hun Manet highlighted the critical importance of maintaining compliance to foster a competitive and orderly business environment. The event, held on Thursday, May 9, served as a platform for discussing key factors that contribute to the robustness of the investment climate in Cambodia.
Prime Minister Hun Manet emphasized the necessity of a collaborative approach between the private sector and the government to uphold order and enhance competitiveness. By working closely, both sectors can ensure that operations are carried out within the framework of established regulations, creating a more predictable and accountable market environment.
“In business, the alignment of efforts between the private sector and the Royal Government is crucial. It is imperative that we operate under agreed principles and continuously strive for excellence in compliance. This collaboration will facilitate smoother executions of projects and will strengthen the trust between public and governmental institutions and amongst businesses themselves,” stated Hun Manet.
Hun Manet pointed out that forming the Association under a common set of principles was of utmost importance. Members are expected to adhere strictly to these guidelines to ensure the organization’s effectiveness and continuity. He stressed that deviation from these standards might jeopardize the stability of the collective, underscoring the importance of unified commitment to the rules.
Drawing an analogy to traffic laws, the Prime Minister explained just as road rules enable vehicles to navigate safely and cohesively, similarly, stringent adherence to business regulations ensures that all members operate effectively without conflicts. This analogy was used to illustrate how compliance acts as a facilitator for coordinated action and prevents business disruptions, just as traffic laws prevent road mishaps.
Furthermore, Hun Manet stressed the need for enduring contributions from both state institutions and the private sector to sustain business longevity in Cambodia. By fostering a cooperative relationship, entities on both sides can contribute to creating a more appealing and competitive business landscape, crucial for attracting more investment and fostering economic growth.
The call to action by the Prime Minister underscores a vision for a disciplined, integrated, and competitive market that is crucial for Cambodia’s future economic trajectory, setting a tone of commitment and cooperation for all stakeholders involved in the nation’s investment framework
Source: Fresh News
