Phnom Penh: The Ministry of Industry, Science, Technology, and Innovation (MITSI) will host the 2nd National Day of Micro, Small, and Medium Enterprises (MSMEs) this week to highlight the vital role of businesses and solve challenges for future growth.
According to Agence Kampuchea Presse, the event, themed ‘MSMEs Readiness for LDC Graduation,’ aims to underscore the crucial role of MSMEs in the nation’s economic development and prepare these businesses for future challenges and opportunities, particularly in light of Cambodia’s upcoming graduation from Least Developed Country (LDC) status.
The ministry stated, “This national event will bring together entrepreneurs, government institutions, development partners, and private sector leaders to celebrate and advance the vital role of MSMEs in Cambodia’s economic development and prepare for future challenges and opportunities.”
The celebration is scheduled to take place at Sokha Phnom Penh Hotel and Residence on June 26. Key activities will include an MSME product exhibition, panel discussions, regulatory compliance workshops, and discussions on incentives and support mechanisms for MSMEs. There will also be a focus on promoting Cambodian products in local markets, and expanding into regional and international markets, with a side event called PackTalk Cambodia.
In 2024, the Royal Government of Cambodia designated June 27 as National MSME Day to boost job creation, strengthen supply chains, and foster both domestic and international market expansion.
The latest report from the Ministry of Industry, Science, Technology and Innovation indicates that there are 44,514 registered small and medium-sized enterprises and handicrafts in Cambodia, with 8,011 of these owned by women.