The Ministry of Commerce organised a workshop yesterday to train more than 40 government officials from across the country on issues pertaining to market intelligence.
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Suon Vichea, director of the Trade Training and Research Institute (TTRI), said at the workshop that enhancing market intelligence is critical to overcome some of the major barriers local products face when penetrating foreign markets.
He said the goal of the workshop was to train government officials on areas like market trends and export requirements. He said officials will pass this knowledge on to businesspeople.
Market intelligence generally refers to any information relevant to companies’ markets, which is gathered and analysed to enable accurate decision-making, particularly in areas like market opportunity, market penetration and market development.
“The training will help commerce officials understand the new systems and tools used to analyse market trends, market potential, market size, market growth, etcetera,” Mr Vichea said.
“With a clear understanding of market intelligence, our officials can help traders and businesspeople who want to boost their sales at home and abroad.
“Our officials will now be better equipped to help businesses make decisions regarding what products to focus on, how much to produce, who to partner with and where to export.”
Samheng Bora, Undersecretary of State at the ministry, said the initiative is part of ministry’s efforts to boost trade and investment in the Kingdom. He said these efforts target particularly the country’s human capital.
“TTRI is working to upskill government officials and businesspeople to enhance productivity,” he said.