Phnom Penh: The Ministry of Industry, Science, Technology, and Innovation (MISTI) concluded a significant two-day training session on Strategic Budget Planning, Annual Budget Planning, and Performance Agreements on March 28. The training saw the participation of 214 officials who enhanced their practical skills in budget formulation, public procurement, performance agreements, and the Financial Management Information System (FMIS).

According to Agence Kampuchea Presse, H.E. Hem Vanndy, Minister of MISTI, emphasized the importance of this training during the closing ceremony. He highlighted that MISTI is entering a transformative phase in budget and financial management, with its general departments, institute, and center set to become fully delegated budget entities starting in 2025. This transformation coincides with preparations for the Strategic Budget Planning for 2026-2028 and the Annual Budget Planning for 2026.

In addition to the training session, the Minister officially launched MISTI’s Strategic Plan for the Government of the 7th mandate. The plan outlines seven strategies, 17 action clusters, and 89 key actions designed to drive dynamic, resilient, and innovation-led economic development. H.E. Hem Vanndy also detailed six levels of institutional capacity crucial for institutional effectiveness, including strategic thinking, policy development, action planning with clear prioritization, resource mobilization, operationalization of the plan, and robust monitoring and evaluation systems.

Furthermore, the Minister encouraged MISTI’s Public Financial Management Reform Working Group to maintain collaboration with the General Secretariat of the PFM Reform Steering Committee. He urged the trainees to apply their newfound knowledge, support each other across departments, and cultivate a learning culture based on the motto: ‘Those with more knowledge guide those with less, who in turn can teach those who have none.’