Phnom Penh, August 1, 2024 – H.E. HEM Vanndy, Minister of Industry, Science, Technology & Innovation, participated in a panel discussion on the Cambodian Economic Environment and Business Opportunities at the Pinnacle Entrepreneur Forum.

Addressing ASEAN entrepreneurs, Minister Vanndy emphasized the crucial need to embrace standards and quality to enhance market access. He highlighted the impact of mega trends and global disruptions, stressing that both government and industries must adapt. “We must continue to innovate; business as usual is not an option,” he said.

Minister Vanndy highlighted reforms undertaken by MISTI, including transforming the Science, Technology, and Innovation National Laboratory into a public administration institution to better serve the private sector. He called on ASEAN entrepreneurs to invest in Cambodia, particularly in the agro-processing sector, which has the potential for high value addition.

His​ key message to the entrepreneurs was clear: “If you want to survive and thrive in the national, regional, and global markets, you need to formalize and corporatize your business.”

By: Ministry of Industry, Science, Technology and Innovation