Middle-class growth catalyst for private sector expansion, says Industry Minister
Middle-class growth catalyst for private sector expansion, says Industry Minister
Hem Vanndy, Minister of Industry, Science, Technology & Innovation MISTI), highlighted Cambodia’s socio-economic development and the burgeoning middle class as catalysts for the private sector’s expansion, at the LSH’s 25th anniversary celebration on Saturday.
According to the Ministry, LSH is a major importer and distributor of food and non-food products in Cambodia. It has established partnerships with suppliers from over 20 countries to provide a diverse range of over 4,000 stock-keeping units (SKUs), from well-known international brands to meet the needs of Cambodian consumers.
Speaking at the event, Ng Chor Yee, LSH’s Managing Director, reflected on the company’s journey from a small import business with just five employees in 1999 to a thriving enterprise with over 300 employees.
Teo Lay Cheng, Ambassador of Singapore to Cambodia, commended LSH for providing a range of food products for locals and foreigners living, working, and visiting Cambodia. These offerings allow, especially foreigners in Cambodia to experience the comforting flavours of home, whether at local markets, in restaurants, or while preparing their favourite recipes.
Vanndy attributed the company’s success to its vision, commitment to quality and customer service, and the country’s socio-economic progress over the past two decades.
As Cambodia aims to become an upper-middle-income country, the purchasing power of its citizens, particularly the middle class, is expected to grow. This anticipated economic progress will enhance market demand, aligning with LSH’s objectives to fulfil consumer needs in an evolving retail landscape, he said.
The Minister encouraged LSH to continue innovating, expand its market reach by importing high-quality products, invest in human resource development, and explore opportunities to integrate local quality products into its distribution network, with an eye toward future export potential.
He invited LSH and the private sector to take advantage of MISTI’s public service reforms, which include enhanced access to product registration and upgraded laboratory capabilities to meet the growing demand for improved food safety.
