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Human Capital Prioritized in Cambodia’s Rectangular Strategy at EuroCham HR Forum

Updated: Aug 20, 2023

Source from: Cambodia Investment Review

February 6, 2023

EuroCham Human Resources Forum in Cambodia at Raffles Hotel Le Royal on February 3, 2023.

European Chamber of Commerce in Cambodia (EuroCham) held its first Human Resources Forum in Cambodia at Raffles Hotel Le Royal on February 3rd, shedding light on the evolving landscape of the human resources sector. The one-day event focused on four critical subjects, including social protection development, legal and practical updates, the skills gap, and employee retention.

The opening remarks were delivered by the Minister of Labor and Vocational Training, His Excellency Dr. Ith Samheng, who spoke about the government’s efforts to prioritize human resources as part of its Rectangular Strategy.

“The development of human resources is key to organizational growth, and the government prioritizes it as a top agenda in Cambodia’s development. Improving human resources creates more decent job opportunities, promotes the dignity of the people, and develops their capacities and skills,” said H.E. Dr. Ith Samheng.

EuroCham Human Resources Forum.

He added that although Cambodia has a significant workforce, it still lacks high-skilled labor to meet the demands of employers. As a result, the Ministry is focusing on developing the workforce and resolving labor disputes, which could potentially increase foreign investment and enhance the value of Cambodian-made products.

Cambodia’s government has implemented its post-COVID recovery and reform agenda through its Strategic Framework for Economic Recovery the framework offers important lessons from the pandemic to ensure an inclusive recovery, outlined via the 3 R’s – recovery, reform, and resilience.

Business owners must register their employees

Mr. Sok Bora, the Director of the Benefits Department at the National Social Security Fund, emphasized the importance of companies registering for all three schemes under the NSSF: the employment injury scheme, the healthcare scheme, and the pension scheme.

H.E. Pheakdey Sambo, the Deputy Secretary General of the General Secretariat for the National Social Protection Council, emphasized the need to improve IT systems to streamline operations and promote the adoption of NSSF schemes.

EuroCham Human Resources Forum.

To verify of you and your company are properly registered under the NSSF foreign workers can download the NSSF application on their smartphones to ensure their employers are properly contributing to the scheme every month.

According to the Ministry of Labor, employers who do not register their business or whose employees do not pay contributions to the social security system or fail to report the number of workers shall be punished as defined in Article 98 of the Law on Social Security.

Private and public sectors working together

The forum also discussed legal and practical updates regarding labor disputes and methods to close the skills gap. Ms. Sambath Heng, a Project Coordinator for the Skill Development Fund, stated that the SDF is working to address the mismatch of skills in Cambodia and transition from an agriculture-based economy to a higher-skilled economy.

The SDF has already implemented 95 projects in priority sectors such as manufacturing, construction, ICT, electronics, and tourism. The private and public sectors are committed to providing the necessary framework to upskill and protect workers as Cambodia strives to maintain its economic and societal growth.

EuroCham Human Resources Forum.

EuroCham Chairman Tassilo Brinzer commented, “We all understand the significance of human resources for the growth of the economy and wider society, and we’re working together to further strengthen this key theme in our development agenda.”

As the country continues to grow, it is crucial to prioritize human resources and ensure that the workforce is equipped with the necessary skills and support to drive the economy forward.

Increasing productivity levels amongst Cambodia’s workforce has been a top priority for development organizations to assist the country to achieve its ambitious aim of becoming an upper-middle country by 2030.

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