Vision and innovation, keys to entrepreneurial success according to Dr. Hay

To succeed in business, it is essential to have a clear vision, adequate means, and seize the right opportunities, explained Dr. Hay Ly Eang, founder and president of Confirel-PPM, during an economic conference titled "Starting as a family and growing according to company standards," organized by Business Cambodia at Chip Mond Mall on December 8th.

Addressing about a hundred participants, both experienced and novice entrepreneurs, Dr. Hay Ly Eang emphasized that the mere intention to start a business is not enough. A clear vision of the product one wishes to develop and knowing how to exploit one's strengths are crucial. He illustrated his point by sharing his personal experience. At 36, aware that innovation was his major asset, he focused on creating novel products rather than copying existing concepts. Dr. Hay Ly Eang stressed the importance of defining long-term objectives and considering the fastest means to achieve them. However, he also emphasized that without favorable opportunities, it is difficult to reach one's goals.

He then discussed his own career. In 1992, eager to help his country emerging from almost thirty years of civil war, he returned to Cambodia to bring medicine donations. With his expertise in pharmacy and the legacy of Kinal, he created pharmaceutical factory PPM in 1996. The concept of Confirel, although conceived in 1980, was only realized in 2001 when conditions were favorable. 

The question-and-answer session following his presentation had to be cut short due to the 60-minute time limit imposed by the organizers.