Cambodia Urges Enhanced Research and Innovation for 2050 Development Goals

On the afternoon of Monday, the 13th waxing moon of the month of Dutiyasaad, Year of the Rat, the 8th solar cycle, Buddhist Era 2570, corresponding to July 27, 2026, His Excellency Dr. Thoun Vattana, Second Vice President of the Senate, presided over a monthly cabinet meeting to review work progress and provide direction for future tasks. During the meeting, His Excellency Dr. Vattana urged all officials to enhance their spirit of teamwork, initiative, and research. He emphasized focusing on national sectors such as agriculture, industry, and services to improve work quality and contribute inputs for policy formulation and national development. This directive aligns with the high recommendations of Samdech Techo Hun Sen, President of the Senate, who has highlighted the importance of long-term vision in policy formulation and implementation to avoid the middle-income trap and achieve Cambodia's goal of becoming an upper-middle-income country by 2030 and a high-income country by 2050. Concurrently, His Excellency Dr. Vattana also discussed the progress of Cambodia's economic development over the past two decades, emphasizing the significant contribution of the financial sector in expanding access to finance for citizens and businesses. He urged the working group to continue researching and seeking solutions to challenges within this sector to enhance the stability and resilience of the financial sector. On this occasion, the meeting also reviewed the progress of preparations for the workshop on "Cambodia's Economic Situation and the Path Towards 2050," scheduled to take place on August 3, 2026. The workshop will be attended by approximately 270 participants, including Senators, Members of Parliament, policymakers, researchers, development partners, representatives from the private sector, and other stakeholders, to jointly discuss and exchange views on Cambodia's economic situation and the path towards 2050. All rights reserved: Soth Ly