Cambodia officially launches “Digital Platform for Onboarding the Informal Economy”

The Digital Platform for Onboarding the Informal Economy was officially launched yesterday morning under the presidency of Prime Minister Hun Manet.

Mr. Hun Manet stated that today's achievement reflects the efforts and attention of the Royal Government to supporting and facilitating citizens engaged in occupations, work, and businesses in the informal economy

In his address to the launching ceremony, the Prime Minister highlighted the significance of this development in the implementation of the "National Strategy for Informal Economy Development 2023-2028," a key policy initiative of the Royal Government of the 7th Legislature of the National Assembly. He announced its implementation at the end of 2023.

Mr. Hun Manet stated that today's achievement reflects the efforts and attention of the Royal Government to supporting and facilitating citizens engaged in occupations, work, and businesses in the informal economy. The government is also creating opportunities for these citizens to develop and expand their businesses, with the goal of improving their living standards and well-being.

The Premier also encouraged all citizens engaged in informal business to register, and instructed the relevant authority to facilitate the registration process in a straightforward manner.

This registration is an initiative to gain a deeper understanding of the activities of individuals and entities engaged in the informal economy. It is not designed with the objective of simplifying the collection of taxes.

H.E. Hem Vanndy, Minister of Industry, Science, Technology and Innovation and Chairman of the Coordinating Committee for the Development of the Informal Economy, stated that in order to achieve the vision of transforming Cambodia into an upper middle-income country by 2030 and a high-income country by 2050, promoting the informal economy is a priority and essential task to enhance competitiveness and boost economic diversification with the goal of reducing poverty and social inequality.

The International Labour Organization (ILO) has identified the informal economy as a significant feature of the Cambodian business landscape. According to their findings, 88.3% of the workforce is engaged in informal employment.

AKP