PM gauges private sector development, status as ‘key economic growth engine’

Speaking to The Post on October 3, Hong Vanak, director of International Economics at the Royal Academy of Cambodia, highlighted the private sector’s close links to the Kingdom’s production chains. As a rule, strong supply spurs economic growth and development, and leads to increased tax revenues, he said.

“When the domestic private sector’s production capacity is strong, it helps reduce imports and increase exports. The more prosperous the private sector becomes, the more tax revenues the state collects,” Vanak said, positing that a more influential private sector breeds greater foreign direct investment (FDI).

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