The Royal Government of Cambodia launched here on Tuesday the National Strategy for Informal Economic Development 2023-2028 to promote the protection and capacity building, productivity and resilience of the informal economy.
The launching ceremony was held at Sokha Phnom Penh Hotel under the presidency of Samdech Moha Borvor Thipadei Hun Manet, Prime Minister of Cambodia with the participation of high-ranking officials and representatives of the private sector and informal economy.
An informal economy (informal sector or shadow economy) is part of any economy that is neither taxed nor monitored by any form of government.
The “National Strategy for Informal Economic Development 2023-2028” is set out with the vision of developing the informal economy to have access to the formal system and become an important driving force in improving the lives of the people and can contribute to the maximum to achieving sustainable development, environment, resilience and crisis resilience.
According to H.E. Hem Vanndy, Minister of Industry, Science, Technology and Innovation, the national strategy is aimed to enhance the protection and capacity building, productivity and resilience of the informal economy, as well as to promote and accelerate participation in the formal economy in order to ensure the resilience, predictability and progress of business, trade, and investment in Cambodia.
