The event, held here on Thursday, was presided over by H.E. Hem Vanndy, Minister of Industry, Science, Technology & Innovation, and Chairman of the Board of Trustees of Khmer Enterprise.

This initiative aims to enhance business operations, improve competitiveness, and boost export potential, reinforcing the country’s entrepreneurial ecosystem, said the Ministry of Industry, Science, Technology & Innovation (MISTI) in a news release this evening.

“Khmer Enterprise has built a strong foundation and wide-ranging local and international partnerships. With significant achievements, Khmer Enterprise continues to foster an entrepreneurial mindset, develop capacity through comprehensive training, create networking opportunities, mobilise investment, and provide direct financial support to startups and SMEs,” H.E. Hem Vanndy said.

According to MISTI, since 2020, Khmer Enterprise has implemented hundreds of programmes to support entrepreneurship in Cambodia. Business plan competitions for students encourage creativity and an entrepreneurial mindset. Capacity development courses cover essential topics such as financial management, sales and marketing, and export strategies. Additionally, networking events connect startups and SMEs with investors, financial institutions, and key business partners to strengthen the entrepreneurial ecosystem.

H.E. Dr. Chhieng Vanmunin, Delegate of the Royal Government in charge as CEO of Khmer Enterprise, emphasised the government’s commitment to strengthening Cambodia’s startup and SME ecosystem. He stated, “The direct financial assistance provided to startups and SMEs is a testament to the government’s direct support and dedication to building a strong and resilient entrepreneurial ecosystem. This highlighted Khmer Enterprise’s contribution to the current policy framework, aiming to enhance businesses and improve market access.”

Khmer Enterprise remains committed to serving as a national platform for supporting entrepreneurial activities, with a particular focus on startups and SMEs. By fostering a strong and dynamic private sector, Khmer Enterprise aims to enhance business growth and innovation. These efforts align with the government’s broader strategy to drive sustainable economic development and long-term prosperity.

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The meeting, chaired by H.E. HEM Vanndy, Minister of Industry, Science, Technology & Innovation and KE’s Chairman of the Board of Trustees, highlighted significant progress in supporting Cambodia’s entrepreneurial ecosystem, according to the Ministry of Industry, Science, Technology & Innovation’s news release yesterday.

“The 2024 performance reflects the resilience and dedication of KE, which has been instrumental in driving business growth and strengthening our entrepreneurial ecosystem,” Minister HEM Vanndy said. “In 2025, Khmer Enterprise’s mission remains focused on equipping entrepreneurs with the necessary resources, skills, and opportunities to thrive in the global market.

It will be a crucial year to strengthen collaborations with both local and international partners, building a competitive foundation for Cambodia’s sustainable, resilient and inclusive development. KE will take on a more strategic role as a catalyst, promoter, and facilitator in the development of priority sub-sectors of the economy.”

The Board of Trustees expressed its continued support for KE’s vision of fostering innovation, supporting business growth and strengthening partnerships with development agencies and stakeholders within the entrepreneurial ecosystem to create a vibrant environment for startups and SMEs in Cambodia.

As of 2024, KE has provided financial support to 907 grant recipients, through the Khmer Enterprise Assistance Package and SME Fundraising Programme. It has also offered both technical and financial assistance to small and medium enterprises (SMEs) in Cambodia, enabling beneficiaries to secure additional external funding, including approximately US$25.2M in investments and US$12.3M in loans since 2020.

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This flagship initiative provides a crucial platform for stakeholders to convene, exchange insights, and collaborate on enhancing the local business ecosystem, pointed out the Ministry of Industry, Science, Technology & Innovation (MISTI).

“Khmer Enterprise acts as a crucial catalyst for the development of Cambodia’s entrepreneurial ecosystem by fostering vital business connections and aligning stakeholder efforts with the Royal Government’s strategy,” said H.E. Hem Vanndy. “

A key function of Khmer Enterprise is to optimise resource mobilisation and access to key opportunities such as certification, standardisation, and market linkage to ensure that local businesses can thrive both within Cambodia and on the global stage.”

According to MISTI, the 2nd Ecosystem Networking Day featured a comprehensive presentation that showcased Khmer Enterprise’s achievements over the past four years, introduced new initiatives, and highlighted collective efforts through the release of its Annual Book.

Additionally, the event facilitated a dialogue among representatives from various ministries-institutions, embassies, development partners, business associations, and other stakeholders, focusing on strengthening partnerships to support local entrepreneurs.

To date, Khmer Enterprise has engaged with approximately 57,000 individuals and supported 760 grantees across the nation. As a government trust, Khmer Enterprise has been implementing programmes and collaborating directly with partners and beneficiaries.

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The meeting took place here on Aug. 7, under the chairmanship of H.E. Hem Vanndy, Minister of Industry, Science, Technology & Innovation, and Chairman of the Board of Trustees of Khmer Enterprise.

The new strategic plan was presented for implementing core programmes and highlighted projects that are aligned with the Pentagonal Strategy Phase I of the Royal Government of Cambodia, said the Ministry of Industry, Science, Technology & Innovation (MISTI).

The new strategic plan aims to promote entrepreneurship across the country with a focus on four sectors: services, agriculture, ICT, and manufacturing, it pointed out.

“Khmer Enterprise has achieved commendable progress in the first half of 2024, yet significant challenges remain ahead. It is crucial for our SMEs to embrace new technologies, access technical skills and formal financial services, and commit to high standards and quality. This will enable them to compete effectively in both local and international markets,” said H.E. Hem Vanndy.

The Board of Trustees expressed its support for Khmer Enterprise to pursue the 2024 plan, which focuses on several key initiatives: expanding entrepreneurship support programmes, enhancing market competitiveness, encouraging SMEs to adopt technology, and broadening the promotion of an entrepreneurial culture throughout Cambodia, MISTI underlined.

According to the same source, as a government trust, Khmer Enterprise plays a crucial role in developing the entrepreneurial ecosystem in Cambodia. It offers resources, training, and support that empower entrepreneurs to transform their ideas into viable businesses and drive expansion. The organisation’s support programmes are designed to enhance capacity, boost competitiveness, and stimulate business growth throughout the country.

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This collaboration aims to build, develop, and support initiatives that create a thriving ecosystem for attracting investments in startups and Micro, Small, and Medium Enterprises (MSMEs).

The IDI , a leading Cambodian investment body with over 100 member companies, has recently established twelve sub-committees under its Investment Committee.

These sub-committees, focusing on key sectors like education, technology, trading, fund-raising, entertainment, food & beverage, finance, manufacturing, agriculture, real estate, healthcare, and tourism, will play a crucial role in driving investment.

A meeting was held yesterday at the IDI office to determine the leadership positions for these sub-committees. The composition of Chairpersons and Vice Presidents is now finalized.

This combined effort between the Cambodian government and IDI demonstrates a strong commitment to supporting Cambodia’s entrepreneurial future and attracting investment across various industries.

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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.

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Mr. Takahashi reiterated the commitment of JCA to elevate the business relationship between Japan and Cambodia to the next level. With the recent inauguration of JCA office in Cambodia, he emphasized the potential for facilitating direct communication and collaboration between Japanese and Cambodian businesses, thereby streamlining processes rather than just relying on diplomatic channels.

JCA just opened its office in Cambodia on April 1, 2024, a move that is expected to catalyze further engagement between Japanese SMEs and their Cambodian counterparts, fostering mutual growth and exploration of niche markets in ASEAN and beyond.

Underscoring the importance of ground presence, Minister Vanndy said that Cambodia will leverage the JCA office to gain insights into Japanese innovations and explore avenues for collaboration beyond domestic markets. He emphasized new potentials within Cambodia’s SME ecosystem and the ministry’s commitment to enhancing its public services, particularly the national quality infrastructure to support industries.

Identifying key sectors for potential collaboration, including agro-processing, green technology, and electronics, he highlighted Cambodia’s interest in attracting Japanese investment, particularly in areas that add value to local produce and enhance productivity.

Mr. Kazunori KATO, Executive Director & Secretary General of JCA, outlined two initial strategies of the new office, focusing on co-producing products with Cambodian SMEs and initiatives to provide technical and vocational training to bolster Cambodian workforce. He shared his positive impressions from a recent business delegation visit to Cambodia.

In addition to collaborating with Cambodian businesses, associations, federations and chambers of commerce, Minister Vanndy also proposed that JCA work with Khmer Enterprise, a government trust dedicated to supporting Cambodian startups and SMEs. He said this partnership will capitalize on Khmer Enterprise’s expertise in providing technical training and funding support to foster synergies between Japanese SMEs and Cambodian enterprises.

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The founder of the company warmly welcomed us and stated their ambitious plan to expand their business and bring technology to Southeast Asia. Next step, we plan to conduct a joint feasibility study for the investment in MainStream Aquaculture technology in Cambodia and establishing a distribution hub based in Cambodia to supply for local market and export to ASEAN market and other FTA markets.

Mainstream was founded in 2001 with a vision to build a “business for the future” by becoming the world’s leading provider of recirculating aquaculture products. Over two decades of innovation, Mainstream Aquaculture has developed proprietary technology in the form of land-based aquaculture systems and a Barramundi selective breeding program that has enabled its growth. The vertically integrated company has become one of the largest Barramundi producers and suppliers in the world and has evolved its vision with the aim of becoming the world’s leading supplier of premium white fish.

As part of promoting trade and investment between Cambodia and Australia, the Innovation and Development Investors Association (IDI) in partnership with ID Capital Plc. (IDC), Khmer Enterprise (KE), Council for the Development of Cambodia (CDC), and Victorian Chamber of Commerce and Industry (VCCI) organized an Agribusiness, Trade and Investment Mission to Australia of Cambodian companies operating in the agriculture and food sector.

The Mission organized in conjunction with Cambodia-Australia Business Forum and ASEAN-Australia Summit of the year. This is a unique opportunity for Cambodian companies operating in the agriculture and food sector to connect with Australian companies during the mission.

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This exclusive event, spearheaded by the Innovation and Development Investors Association (IDI), ID Capital Plc. (IDC), and Khmer Enterprise (KE), promises to unlock new horizons for Cambodian ventures Down Under.

This mission provides a golden platform for Cambodian businesses to shine a spotlight on their finest agriculture and food products. Think vibrant tropical fruits, succulent seafood, and innovative rice varieties – all set to tantalize the taste buds and business savvy of potential Australian buyers and partners.

Beyond showcasing their wares, participants will have the chance to forge valuable connections with diverse industry players across the Australian landscape. From retail giants to innovative processing companies, e-commerce platforms, and logistics providers, the networking opportunities are vast and promising.

This mission isn’t just about immediate deals; it’s about planting seeds for future growth. Participants will gain expert insights into exploring exciting investment opportunities, particularly in the burgeoning green and agri-tech sectors of the Australian market.

The organizers are committed to fostering inclusive business practices. Participants will learn how to integrate Gender Equality, Disability and Social Inclusion (GIDSI), and Environment, Social and Governance (ESG) principles into their operations, ensuring sustainable and responsible growth.

This mission is tailor-made for a diverse range of agribusinesses:

• Commercial farms and agriculture cooperatives
• Agri-SMEs and processors, including traders and logistics providers
• Horticulture, aquaculture, rice, and livestock businesses
• Agri-tech companies: machinery, green-tech, digital services, and agri-tourism providers
• Food and beverage manufacturers, distributors, and service providers, including FMCG companies

This Australian mission follows the footsteps of the hugely successful US Business Delegation led by IDI and IDC in November 2023. That trip generated significant interest and connections for Cambodian businesses, proving the power of these missions to fuel international expansion.

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The competition aims to accelerate the impact and promote best practices of inclusive business in the country. Two deserving winners will receive a financial grant of up to $20,000 to implement their innovative solutions that make the value chain more equitable and sustainable.

The competition is open to only certified and potentially inclusive businesses. Applications can be submitted from today until November 15, 2023.

An official launch event was held recently to provide more details about the competition and how to participate.

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