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376289
Tue, 08/04/2015 - 14:06
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WIEF Roundtable To Support Cambodia's Strategic Efforts To Refocus Investments In Economic Sectors

From Sharifah Pirdaus Syed Ali PHNOM PENH (CAMBODIA), Aug 4 (Bernama) -- The World Islamic Economic Forum (WIEF) Foundation's roundtable here aims to support Cambodia's strategic efforts to refocus investments in economic sectors. WIEF Chairman, Musa Hitam, said the objective was to create employment, elevate standards of living and drive sustainable growth. Musa said the discussions would focus on education, small and medium enterprises (SMEs) and microfinance, which could be instrumental in shaping and setting the pace of a country's economic development. "Education could be the 'brain', SMEs the 'backbone' and microfinance the 'limbs' for a fully functioning economy like Cambodia in achieving its long-term aspiration to attain stability, sustainability and prosperity," he said in his speech at WIEF Phnom Penh Roundtable 2015 here Tuesday. Musa said given the vast reservoir of resources and knowledge present at the roundtable, recommendations for development of an effective education system, thriving SME landscape and effective and sound micro-financial systems could very well emerged. Also present were Cambodia's Deputy Prime Minister and Minister of National Assembly-Senate Relations and Inspection, Dr Men Sam An, and Minister attached to the Prime Minister and Secretary of State Ministry of Labour and Vocational Training, Oknha Othsman Hassan. Musa said at present, Cambodia's economic performance was largely driven by only half of its population and empowering the rest of the country's eight million population with relevant skills and tools, the nation would experience significantly greater economic prosperity and equitable growth. He said the roundtable would also provide a starting point for regional and local businesses to explore the opportunities locally and how they could benefit from the ASEAN Economic Community. In her keynote address, Dr Men commended the WIEF Foundation for its strategic selection of the three areas of focus. She hoped the programmes would also trigger other industries to accelerate the nation’s economic growth and alleviate poverty, adding that for over two decades, the country's economic growth was maintained at over seven per cent. The roundtable, she said, took place while government was looking to reform deeply in all areas to ensure efficiency of public services and promote investment opportunities, this could help propagate Cambodia as the business and investment destination to business people. Over 250 delegates from around the world attended the roundtable here. --BERNAMA

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