PHNOM PENH: A multilateral memorandum of understanding (MOU) was signed last week between the Techo Startup Center, Khmer Entrepreneurs, the Cambodia-Japan Cooperation Center, and the Cambodia-Japan Association for Business and Investment (CJBI).

The MoU signing ceremony was attended by HE Dr. Taing Nguon Ly, Executive Director of the Techo Startup Center, H.E Dr. Chheang Vann Monin, Executive Director of Khmer Enterprise, Mr. Seang Nimol, Deputy Director of the Cambodia-Japan Cooperation Center, and Dr. Khim Leang, Vice President of the Cambodia-Japan Association for Business and Investment (CJBI).

The MoU will extend the groundwork for cooperation and activities aimed at promoting the sustainable development of Cambodia's small and medium enterprises, better access to finance for these small and medium enterprises, and strong business relationships between Cambodian and Japanese companies, with high expectations that this partnership will benefit the Cambodian economy.

Cambodia is a developing country with a growing number of new businesses. However, local MSMEs and SMEs are frequently unfamiliar with all legal procedures or how to properly register their businesses, but with the introduction of a digital registration platform, starting a business in Cambodia has become easier.