(Kampong Speu): Cambodian Prime Minister Hun Manet stated that extracting mineral resources domestically is the right course of action to support national development, as it helps meet essential construction needs while significantly reducing costly imports.

The premier spoke on Tuesday (May 20) at an inauguration ceremony of the Conch KT Cement Factory in Aural District, Kampong Speu Province.

Samdech Thipadei added that the growing demand for materials like stone and cement for building homes and infrastructure. He noted that local mining is a reasonable and strategic approach, not unique to Cambodia but widely practiced across Asia to drive development.

Samdech Thipadei underscored, "We have two choices. One is to import everything, even just a single sack of cement. But then, how much would a house cost? And where would the money come from? So, we must be economical. Extracting mineral resources domestically to support development brings many benefits. No country refrains from doing this—but it must be done responsibly, with clear principles and thorough impact assessments."

Prime Minister Hun Manet also highlighted that local mining provides several key benefits, including reducing reliance on imports, enabling domestic production of essential materials like cement, creating jobs for local communities, with over 103,000 people currently employed in the mining sector, and significantly boosting national revenue through taxes and royalties, which increased from around USD 20.54 million in 2020 to nearly USD 100 million in 2024.

On the occasion, Samdech Thipadei underlined that as national revenue grows, those funds are reinvested across vital sectors including civil servant salaries, social services, healthcare, road construction, education, and hospitals, to further accelerate the country’s development.
=FRESH NEWS