PHNOM PENH – Prime Minister Hun Manet has spoken of remarkable progress in the granite stone sector, highlighting it as his first achievement upon taking office.

“The sector has experienced a fourfold increase in growth from September 2023 to September 2024, following the implementation of tax exemptions,” he said on Nov. 21.

“If taxes were the reason for disrupting the sector, we had to reduce export tax rates. Thus, I signed a sub-decree authorizing the reduction of export tax rates on some natural stone products. 

“According to the report, the granite sector has increased significantly, achieving a fourfold increase in just one year.”

However, the PM said tax exemptions were not the sole reason for this success. Close collaboration among the inter-ministerial commission, officials and private sectors were driving this growth.

“The close collaboration between the government and private sector in this sector serves as a good sample for other sectors to follow. This experience is one I will always remember and support to ensure its sustainability,” he said.

“If I were to write a book after my retirement, I would also include the success of the granite sector as one of the most memorable achievements during my early tenure as PM.”

The PM acknowledged that mineral resources are nonrenewable but said they were crucial for countries’ growth.

“I support the Ministry of Mines and Energy measures to restrict mining activities in heritage, historical, cultural and other protected areas,” he said.

In Sept. 2023, the government cut the export duty on unprocessed natural stone from 30 to 10 percent. The stone types include marble, travertine, ecaussine, granite, porphyry, basalt, sandstone and other calcareous monumental and building stones.

Processed natural stones are taxed from zero to 20 percent. These include setts, curb stones, flagstones, mosaic cubes, tiles, cubes and similar articles, marble, travertine, alabaster and granite.