Phnom Penh – A recent roundtable discussion organized by the Royal Academy on May 29th brought together leading economists and senior state officials to address a crucial question: What principles underpin Cambodia’s pursuit of national product stability? Among the distinguished speakers, Dr. Ky Sereyvath, a prominent economist, highlighted numerous challenges impeding the advancement of local production.
Dr. Sereyvath specifically pointed to deficiencies in technical support and, critically, the absence of a comprehensive master plan for managing locally available raw materials. He emphasized that these issues significantly hinder efforts to promote national products effectively. From an economic perspective, Dr. Sereyvath asserted that the state bears a paramount responsibility in fostering and supporting the stability of national products.
He further stressed the necessity for close collaboration between the government and producers to ensure stringent quality and safety standards for all domestically manufactured goods. “Product quality is an essential factor for ensuring stability in national products, and the private sector cannot achieve this alone; it requires the active involvement of the government,” Dr. Sereyvath stated. He elaborated on the need for proper registration processes overseen by the relevant ministries, noting that current registration procedures for local products are often complex and lack adequate technical assistance.
In light of these observations, Dr. Ky Sereyvath strongly urged the government to prioritize the development of a master plan for both production and raw material management. Furthermore, he advocated for the state to act as a vital intermediary, facilitating connections between raw material sources and various industrial supply chains to ensure a more integrated and robust local production ecosystem.
