PHNOM PENH– April 5, 2024 – Khmer Enterprise, a Cambodian government agency focused on entrepreneurship development, distributed financing packages to 38 new businesses and small and medium enterprises (SMEs) during a handover ceremony. This initiative aims to empower these businesses to stabilize their operations, improve their functionality, and unlock their export potential.
The ceremony was presided over by His Excellency Hem Vandy, Minister of Industry, Science, Technology and Innovation, and Chairman of the Board of Directors of Khmer Enterprise. He highlighted Khmer Enterprise’s commitment to strengthening Cambodia’s entrepreneurial ecosystem, particularly for businesses in the government’s priority sectors. By providing financial and technical assistance, Khmer Enterprise aims to enhance the competitiveness of Cambodian businesses and expand their markets, ultimately contributing to job creation and economic growth.
SMEs are the backbone of Cambodia’s economy, employing roughly 70% of the workforce and contributing approximately 58% of the GDP. Since 2020, Khmer Enterprise has implemented various programs to offer direct financial aid to hundreds of new businesses and SMEs across the country. Their support goes beyond just funding, encompassing initiatives like nurturing entrepreneurship among high school students, providing training for innovative businesses, and connecting entrepreneurs with investors.
Speaking at the ceremony, HE Dr. Chheang Vann Monin, Executive Director of Khmer Enterprise, announced the launch of a new program – the Khmer Enterprise Assistance Package ++. This program provides additional benefits to entrepreneurs who have previously participated in Khmer Enterprise’s programs and achieved success.
“The aim is to further strengthen the capabilities of these entrepreneurs, increase their market share, and boost the overall efficiency of their operations,” Dr. Monin remarked.
This initiative by Khmer Enterprise demonstrates their continued commitment to fostering a thriving entrepreneurial environment in Cambodia, empowering businesses to not only survive but also thrive in the post-pandemic economic landscape.
