PHNOM PENH: Minister of Industry, Science, Technology & Innovation H.E. Hem Vanndy has emphasised the vital role of women-led small and medium enterprises (SMEs) in driving Cambodia’s social and economic growth.
H.E. Minister made the remarks while presiding over the closing ceremony of Cambodian Women Entrepreneurs Day 2024, organised here on Nov. 11 by the Cambodian Women Entrepreneurs Association (CWEA) under the theme “Women Empowerment in Green Economy”.
He noted women’s growing contribution to Cambodia’s business landscape, particularly in small and medium enterprises (SMEs). “Promoting women’s entrepreneurship requires combined efforts of all stakeholders to integrate their businesses into regional and global value chains, harness local resources, and adopt new technologies,” Minister Vanndy said.
Women entrepreneurs lead 69.2 percent of Cambodia’s economic units, according to the Ministry of Planning’s 2022 census. With Cambodia’s economy expected to grow around 6 percent in 2024—driven by sectors like garment exports, non-garment manufacturing, agriculture, tourism, and trade—H.E. Hem Vanndy stressed that women-led businesses are crucial to sustaining this momentum.
The Royal Government of Cambodia is actively implementing strategies and policies designed to support women entrepreneurs, with initiatives focused on enhancing productivity, expanding market access, and providing critical financial resources to help businesses to thrive, said the Ministry of Industry, Science, Technology & Innovation, adding that platforms such as ASEANAccess and KhmerSME offer essential business information in the region to small and medium enterprises (SMEs), equipping them with the tools and resources necessary for sustainable growth and success.
Addressing attendees at the event, the industry minister encouraged SMEs to formalize their businesses, emphasising that doing so would enhance their ability to access support, contribute to the government’s targeted policymaking, and strengthen their long-term business resilience and growth.