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PM Praises U.S. Sanctioned Tycoon Ly Yong Phat’s Role in National Development

Prime Minister Hun Manet, senior government officials and Senator Ly Yong Phat attend a school inauguration in Kampong Thom province, November 3, 2026. (STPM Facebook)
Prime Minister Hun Manet, senior government officials and Senator Ly Yong Phat attend a school inauguration in Kampong Thom province, November 3, 2026. (STPM Facebook)

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Prime Minister Hun Manet at a school inauguration on Tuesday praised tycoon Ly Yong Phat, a senator, and his leadership of Cambodian Okhna Association for its contribution in supporting education and national development.

The public recognition was made amid sanctions imposed by the U.S. Department of Treasury on Yong Phat in September 2024, with Cambodia’s Foreign Affairs Ministry at the time denying the move and calling it “unjust and politically-motivated”. 

“[I] praise and thank Oknha Ly Yong Phat, president of the Cambodian Oknha Association, and association members, who have been and continue to work alongside the Royal Government in national development,” Hun Manet said during the inauguration ceremony in Kampong Thom province.

According to him, since its establishment, the association has participated in numerous humanitarian activities for the benefit of the people and the nation, including infrastructure development.

Provincial governor Nuon Pharat also thanked Yong Phat and his members for contributing $2.3 million for five school constructions in the province.

Yong Phat, who attended the event, spoke on behalf of the association, pledging their commitment to support nation development.

“We commit to [maintain] strong solidarity and [gather] resources to take part in developing the nation and society, especially education and building human resources,” he said.

Chhay Sinarith, head of the Commission for Combating Online Scams, said in August that the Anti-Corruption Unit arrested 15 high-ranking officials and law enforcement officers in four scam-related cases. Last month, he told Nikkei Asia that the government was investigating two senators’ properties, one of them being Yong Phat’s.

Cambodia remained on the lowest Tier 3 ranking of the U.S. State Department’s latest Human Trafficking report, which covers from April 2025 through March 2026. The report stated that the government demoted eight officials allegedly involved in scam crimes but reported no investigations, prosecutions or convictions of government employees. 

It said authorities also took no action against the U.S.-sanctioned senators, Kok An and Yong Phat, despite evidence linking scam centers to companies they own or control. Both senators have denied involvement in scam operations.

Seng Vanly, an independent Cambodian political analyst, said that Hun Manet’s praise of Yong Phat highlights a “deep divide between Cambodia’s internal political system and its international obligations”.

“The response severely weakens Cambodia’s claims that it is fighting forced labor and online fraud. Praising sanctioned figures harms the country’s global reputation,” he said.