Phnom Penh: H.E. Hem Vanndy, Minister of Industry, Science, Technology and Innovation and Chairman of the Coordinating Committee for Informal Economy Development, presided over the official launch of the Operational Plan on Social Security Formalisation 2024-2026. This marks another important step by the National Social Protection Council (NSPC) to strengthen support mechanisms for the development of Cambodia’s informal economy, as outlined in the National Strategy for Developing the Informal Economy 2023-2028, said the Ministry of Industry, Science, Technology and Innovation (MISTI).
According to Agence Kampuchea Presse, the development of the informal economy and the social protection system are interconnected and complementary foundations promoting the national economy and citizens’ well-being. H.E. Hem Vanndy emphasized this at the opening ceremony, highlighting the Royal Government of Cambodia’s focus on enhancing the capacity, resilience, and competitiveness of the informal economy. This focus is channeled through prioritizing social protection, crisis resilience, and support services for informal economy actors.
The National Strategy for Developing the Informal Economy specifies the NSPC’s roles under Key Measure 3, which involves providing social protection and support, and Key Measure 4, which focuses on capacity building and service delivery for those entering the system. H.E. Minister stated that social security registration is a crucial mechanism for implementing the strategy, enabling informal economy actors to register and pay to access National Social Security Fund (NSSF) benefits.
According to MISTI, as of March 22, 2025, the Digital Platform for Onboarding the Informal Economy has received 36,824 applications, which include 1,949 as employees, 1,226 as micro-enterprises, and 33,649 as self-employed individuals. The Social Security Formalisation Plan is expected to act as a catalyst encouraging informal economy participants to enroll in the social security system, particularly in the healthcare regime, in line with the principle of ‘Leaving no one behind,’ added the same source.