Cambodia Hosts 1st National Day Of Micro, Small, And Medium Enterprises

On June 27, 2024, Cambodia hosted its 1st National Day of Micro, Small, and Medium Enterprises (MSMEs), under the theme “Better MSME Ecosystem for Better Growth.”

Presided over by H.E. Dr. Aun Pornmoniroth, Deputy Prime Minister, Minister of Economy and Finance, the event was dedicated to celebrating the vital contributions of MSMEs to the nation’s economy and fostering an environment of innovation, sustainability, and inclusive growth.

The first National MSME Day featured a series of activities, including MSME product expos, networking sessions, and panel discussions. This hybrid event brought together policymakers, entrepreneurs, business leaders, development partners and stakeholders from across the country to share insights, exchange ideas, and explore opportunities for collaboration and growth.

The Royal Government of Cambodia (RGC) has designaged June 27 every year as the National MSME Day, underscoring Cambodia's commitment to achieving the United Nations' Sustainable Development Goals (SDGs) for 2030. It also aligns with the ASEAN Strategic Action Plan for SME Development 2016-2025.

H.E. HEM Vanndy, Minister of Industry, Science, Technology & Innovation, said the the RGC has prioritized MSME development through a comprehensive ecosystem, providing support in key areas such as policy formulation, access to finance, entrepreneurship promotion, technology adoption, skills development, product standards enhancement, and ease of doing business.

“We recognize the critical role that MSMEs play in driving economic growth, creating jobs, and fostering innovation,” said Minister Vanndy. “The 1st National MSME Day is an opportunity to showcase the achievements of our entrepreneurs and to provide them with the information, tools and resources they need to thrive in an increasingly competitive domestic, regional and global markets.”

MSMEs make up 90% of all businesses, employing 60% to 70% of the workforce and contributing 50% of the global GDP. Within ASEAN, MSMEs account for 97.2% to 99.9% of all businesses and contribute 44.8% of the GPD of member countries.

According to the 2022 census by the National Institute of Statistics of the Ministry of Planning, Cambodia has 753,670 MSMEs employing nearly 3 million people with approximately 1.8 million of them being women. This sector contributes 63% to the national GDP and employs over 70% of the workforce, not including the agricultue sector.

The National MSME Day 2024 was organized by the Ministry of Industry, Science, Technology, & Innovation, in collaboration with GIZ, CAPRED, UNIDO, Khmer Enterprise, SME Bank and various business associations.