(Video) Selected Comments of Samdech Thipadei Hun Manet, at the opening of the 16th Cambodia Vision Conference 2025 theming “Cambodia’s New Growth Strategy: Priorities for High-Quality and Sustainable Development” [Unofficial Translations]

CMF: 04/03/2025

(1) collect and analyze data to achieve consistency and quality in policy formulation

The formulation of policies and/or the formulation of development measures must be based on scientific methodology, not on emotions. Research, data collection and analysis, and the increase of responsibility of institutions are important tasks. If wrong information is collected, the decisions making will be wrong, and the policy formulation will be wrong. This will cause us losses – time and resources […] sometimes, interventions to wrong target cause more problems than solving them […] the Royal Government is taking steps to reform responsible institutions to strengthen, collect and analyze information in order to achieve more consistency and quality in our policy formulation […]

(2) RGC’s working method involves groups of people with resources, knowledge, and skills

CDRI is a key partner. This is how the Royal Government works. It is not based on one person who knows everything, but on a group of people who have resources, knowledge, and skills, who gather together, consult, prepare, and implement policies. After implementation, we always regularly review. Whatever the policy is about, the first thing is to start with a clear analysis of the situation, based on (properly collected and analyzed) data. After a clear analysis, the policy must be implemented in accordance with the geographical and demographic situation. We cannot copy the policies that the World Bank has written for other countries to implement them in Cambodia. We will definitely take some of the experiences from that as a basis, but adapt it to the current situation of Cambodia, the situation that we have directly encountered and collected from the target respondents […]

(3) Macro-level economic growth does not correspond to the micro-level aspects of each sector

I had a chat, on the way in, with Chea Serey, the governor of the National Bank, […] looking at the survey of our economic situation. If you look at the macro-level (economic) aspect, yes, we see economic growth. However, the macroeconomic growth does not correspond to the micro-level aspects of each sector. Normally, it is not possible to say that all sectors of the economy (have grown) 6%. Some may be above 6%, some may be below 6%. For this reason, it is necessary to conduct surveys, especially the retail sector, the small sector (which is) the informal economy because it is related to the livelihoods and trade of the people. I have been monitoring it regularly. Six or seven months ago, we asked for information about several places where shops closed down one after another. Currently, we see that shops are opening […]

(4) Need data for development of any target, research, collect and analyze data from that target.

Sometimes (growth) does not respond to data or even the annual growth rate because the growth rate adds up tourism, manufacturing, industry and agriculture altogether […] if you really want (data) for development of one particular target, you need to conduct research […] data collection, analysis, and target group discussions are important tasks. Go and consult with the persons in question. Do not use data from the industrial and manufacturing sectors to evaluate based on your sentiment and desires of the service sector. You must conduct a survey […] we monitor and supervise the development of policy plans, which is why we have a forum like today. The Royal Government has held meetings with the private sector through numerous mechanisms and we did it once in 2023. maybe I will do it again this year or next year. We will meet with the private sector again […]

(5) Collect data by conducting surveys based on scientific and official data sources

There are more than ten private sector forum mechanisms, whose representatives of each sector I have met to consider what needs to be solved and/or what needs to be adjusted […] these regular meetings are in fact the survey for data collection. Primary data is important, but it must be clearly studied and based on scientific grounds. There are many analyses, of which I often mention two – scientific analysis and emotional analysis. Do not use emotional analysis as the basis for policy making. Data collection is also not about using data from Google for analysis. Definitely, you have to have an official data source that you can base your analysis on or conduct your own survey […]

(6) Accept and synthesize general opinions to verify them with the policy process

The Royal Government is waiting to receive the results of this forum, which is the synthesized general opinions of experts and stakeholders at both national and sub-national levels, to verify them with our policy process, and to determine “where we are going, what problems are there, in which sectors, and how to adjust and/or strengthen them.” This is how the government works. It is not done by one person in a 4-square-meter room and analyzing everything […] I have a doctorate in economics, but do I know the current economic situation in this particular sector better than those who do it directly – collect (data) directly and/or the Ministry of Economy and Finance whose expertise has been doing it directly. I can’t say I know. We have a hierarchy of private sector participation from all sources to take what they know individually, from each side, and synthesize it into policy options […]

(7) Despite careful policy preparation, the economic situation is still volatile

We recognize that despite our efforts to synthesize policies, the economic situation will always be volatile. When we put together policies, there was not yet a trade war. Now, in a month time, we seem to have a trade war coming. If there is to be a trade war, how will it affect the economies of the major powers? And, what are the impacts on each other when they try to impose on each other the reciprocal tariffs? These are some of the questions. When we launched the policy, we predicted that in two to three years’ time AI would be in the creation and use. However, AI has already come much faster than we predicted. This requires a constant monitoring and evaluation to see what we can do, what can we promote to be sustainable? […]

(8) High growth without a foundation, not a real and durable growth

I agree with the statement that “growth will slow down a bit, but be sustainable and resilient” through structural reforms […] house sales and real estate have picked up again, but not as much as before the COVID-19 outbreak. I think that’s the right trend. Previously, it went up high because house buying was mostly for speculation. Some bought up to 100 houses, for instance. This growth trend now is real. High growth without a foundation, may be good for a while but not durable. Gradual growth with a clear foundation is real growth. However, we cannot prohibit it. The economic cycle is like that. Only with that, there will be growth. However, maintaining and considering the fundamental structure of the economy is necessary […]

(9) Input from citizens, experts, civil servants, researchers, the private sector as a center for integrating ideas

To ensure long-term sustainable growth, I would like to encourage everyone to participate in a productive discussion. We welcome your views. Don’t think that you are just a small researcher and the government would not take your findings seriously. It’s not like that. We need to discuss each and every component because this is for Cambodia – our country. The government listens to the citizens, listens to the experts to find ways to solve the challenges. We listen to the citizens for what they need. We listen to the experts to see how we can help each other. We need to have participation from all sectors, from experts, civil servants, researchers, the private sector, including the citizens, to be a center for integrating ideas […]./.