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Workers

Hun Manet Calls for Financial Relief for Returning Workers

Strategic Insights

— 1 min read

As tens of thousands of Cambodian migrant workers are expected to return from Thailand due to economic uncertainty, Prime Minister Hun Manet has called on the Association of Banks in Cambodia (ABC) and the Cambodia Microfinance Association (CMA) to ease the financial burden on workers with outstanding debts. The Prime Minister emphasized the government's readiness to handle the situation, while highlighting the importance of national solidarity in times of challenge. He noted that Cambodia is experiencing a shortage of tens of thousands of workers across various sectors, making it a crucial moment for reintegration.

Key Takeaways:

  • The Prime Minister has instructed relevant ministries and institutions to facilitate border crossings, provide temporary shelter, food, and basic health services for returnees.
  • The Ministry of Labour and Vocational Training is prepared to help returning workers secure jobs, noting that Cambodia is experiencing a shortage of tens of thousands of workers across various sectors.
  • The Ministry of Economy and Finance is developing economic and social intervention packages to improve the livelihoods of returnees.
  • The Prime Minister called on the financial sector to consider ways to ease the financial burden of returning workers with existing debts within their capacities and for a limited period.
  • The Association of Banks in Cambodia and the Cambodia Microfinance Association have expressed strong support for the Prime Minister's initiative and will explore loan restructuring and other feasible mechanisms to provide relief to affected borrowers.
  • Both associations pledged to continue working closely with the National Bank of Cambodia and other stakeholders to ensure that financial institutions contribute effectively to national socio-economic stability.

Statistics:

  • Tens of thousands of Cambodian migrant workers are expected to return from Thailand due to economic uncertainty.
  • 10s of thousands of workers are facing a shortage of employment opportunities in various sectors.
  • The Ministry of Economy and Finance is developing economic and social intervention packages to improve the livelihoods of returnees.

Sources:

  • Official social media page of Prime Minister Hun Manet
  • The Association of Banks in Cambodia (ABC) and the Cambodia Microfinance Association (CMA) joint statement issued on June 14
  • The Ministry of Labour and Vocational Training
  • The Ministry of Economy and Finance

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