• Your Excellency Dr. Phan Phalla, Secretary of State, Ministry of Economy and Finance

• Distinguished Representatives from the Royal Government of Cambodia

• Esteemed colleagues, ladies, and gentlemen.

Good morning, Chom Reap Sour! 

 On behalf of the United Nations Development Programme (UNDP), I extend my heartfelt gratitude to H.E. Dr. Phan Phalla, the Team of the General Department of Policy, and particularly, the New Economy Department, at the Ministry of Economy and Finance for spearheading this initiative, and to everyone here today for your commitment to shaping Cambodia’s future.

As we gather this morning, I am reminded of the progress Cambodia has achieved over the past few decades before the COVID-19 disruption and the progressive recovery it has achieved so far. Cambodia stands at a critical juncture in financing its development ambitions set out in the Pentagonal Strategy and Vision 2050. It still relies largely on foreign aid and concessional financing for its development in a rapidly shifting development context, global uncertainties, rapid technological advancements, and evolving global markets. The country’s access to grants, concessional financing, and favorable trade terms will reduce over time after LDC graduation as the country develops, requiring strategic transformations to harness opportunities and posing significant challenges for public finance and the implementation of the Pentagonal Strategy. This is further exacerbated by climate challenges and rising demands for sustainable practices to manage environmental externalities. 

In this highly uncertain and complex context, will Cambodia achieve the consistent 7% annual GDP growth until 2050 needed to achieve the Pentagonal Strategy’s ambitious targets and Vision 2050, as projected by UNDP, the World Bank, and CDRI. A proactive, adaptive, and dynamic approach and leadership are needed to seize emerging opportunities and mitigate potential risks.

Excellencies, Ladies, and Gentlemen,

This is where foresight plays a critical role. Foresight is more than a tool; it is a mindset, a structured way of thinking that helps us explore possible futures, question our assumptions, and navigate complexities with clarity and purpose. It enables us to identify drivers of change, envision alternative scenarios, and align our actions today with our long-term aspirations.

For Cambodia, foresight offers a unique opportunity to align national priorities with the realities of a rapidly changing world. Precisely, foresight can be leveraged to inform the new sources of growth; identify growth models that would generate quality jobs, identify skill trends, and prepare the labor force for new opportunities. It will chart the possible ways forward for achieving the Kingdom’s development ambitions. 

Excellencies, Ladies, and Gentlemen,

Today’s workshop is a crucial step in this journey. By bringing together government institutions, UN Agencies, development partners, think tanks, the private sector, and civil society, we are fostering a collaborative foresight ecosystem, a space where diverse perspectives can converge to create innovative solutions and resilient pathways. This workshop is about actionable recommendations, collective ownership, and shared accountability for Cambodia’s future.  Let us use this platform to reflect on key questions: 

• What are the major disruptions locally, regionally, and globally that could impact Cambodia’s ability to achieve its long-term goals? 

• What are the most important drivers of change that we need to consider first? 

• How can foresight help us address uncertainties, and seize opportunities for growth and positive transformation?

I want to emphasize that today’s conversations are just the beginning. The foresight roadmap we are shaping together is a dynamic framework that will evolve as we continue to learn, adapt, and innovate. The outcomes of today’s discussions will be critical in shaping the National Foresight Roadmap and implementation plan. This roadmap will serve as a guide for policymakers, development practitioners, and other stakeholders as we work together to contribute to a future that is sustainable, inclusive, and prosperous. It will generate needed input for risk-informed and future-looking decision-making. 

Excellencies, Ladies, and Gentlemen,

In closing, I would like to reaffirm UNDP’s commitment to supporting the Royal Government of Cambodia to navigate complexity and uncertainty with confidence. We stand alongside the Royal Government in developing Cambodia’s Foresight Roadmap. We are here to facilitate dialogue, provide technical expertise, and strengthen capabilities to embed foresight into national planning and decision-making processes. We are proud to support YOUR journey, which will make Cambodia stronger and more resilient. 

I wish you a fruitful discussion and thank you all in advance for your active participation and look forward to your invaluable contributions. 

Thank you, Som Arkun.