The Committee for Coordinating the Informal Economic Development convened its 2nd committee meeting at the Ministry of Industry, Science, Technology & Innovation (MISTI) on March 4, 2024 to announce the committee members and discuss action plans and indicators imperative for the realization of the key measures being introduced.

The National Strategy for Informal Economic Development 2023-2028 aims to develop the informal sector to become an important driving force for sustainable, inclusive, and resilient development. It is part of the government's broader vision to transform Cambodia into an upper middle-income country by 2030 and a high-income country by 2050.

As Chair of this inter-ministerial committee, H.E. HEM Vanndy emphasized significance of the strategy and the need for detailed action plans from participating ministries-institutions, citing a few good examples of action plans presented by the Ministry of Labor and Vocational Training, General Department of Taxation, and the National Bank of Cambodia (NBC). He encouraged ministries-institutions, sub-national administrations, associations, and the private sector to establish their own action plans with clear timeline and indicators to achieve the overarching objective.

Through these discussions, members have enhanced their understanding of the national strategy and the roles and responsibilities of line ministries-institutions.

The meeting called upon and agreed to actively promote key measures being introduced by ministries-institutions, ensuring their comprehensive understanding and effectiveness among the target audience, particularly prioritizing the beneficiaries of the national strategy at the local level.