Cambodia’s plans to buy vaccine lifts business confidence

The decision to purchase COVID-19 vaccines for the kingdom’s citizens is set to boost business confidence and the prospect of economic recovery.
By: | December 14, 2020

Cambodian prime minister Hun Sen has tasked his health and finance ministries to set aside the budget to buy one million doses of the COVID-19 vaccine. He has also requested the Minister of Health to liaise with the World Health Organization as to where to source the vaccines from. 

The prime minister said: “I also advised [that] the Minister of Finance allocate budget for the first purchase of one million doses, [which will] be given to those working in high-risk areas. One million doses [is sufficient] for 500,000 people (because one person needs two vaccinations).”  

Cambodia Chamber of Commerce vice-president Lim Heng said businesses and investors worldwide have been eagerly waiting for the vaccine because once it is available to all, it would be a good indicator for the recovery of the global economy.

He added that the news of the vaccine developments has boosted confidence among investors enough to spur them to make their post-COVID-19 business and investment plans. Even as the kingdom is still in a pandemic mode, the Council for the Development of Cambodia has been approving general investment projects monthly, he said. 

READ: Cambodia: Govt issues stricter COVID-19 measures for factories

Anthony Galliano, the newly elected president of the American Chamber of Commerce in Cambodia (AmCham), said: “The economic risks are being managed to mitigate the impact and are balanced with the health and safety of the people. This government’s management and performance can only spark investor confidence and, in my opinion, will result in increased investor confidence and investment.” 

He added that the tourism sector may take much longer to rebound with much depending on the state of the airline industry and the still-to-be determined health and safety protocols that will be enforced.