(Phnom Penh): The Royal Government of Cambodia considers small and medium-sized enterprises (SMEs) a strategic priority for job creation, domestic production and long-term economic growth, Deputy Prime Minister and Minister of Economy and Finance Aun Pornmoniroth said on Thursday (Jun. 11).
Speaking at the opening of the first Federation of Associations for SMEs of Cambodia (FASMEC) Forum, held under the theme “Supporting and Protecting SMEs to Promote Domestic Production and Competitiveness,” Aun Pornmoniroth highlighted the crucial role SMEs play in Cambodia’s economic development.
The forum, jointly organised by the General Department of Customs and Excise of Cambodia (GDCE) and FASMEC, brought together government officials, private-sector representatives, business associations, SMEs and other stakeholders to strengthen public-private dialogue, disseminate policies and address challenges facing the SME sector.
FASMEC Chairman Te Taing Por described SMEs as a vital engine of Cambodia’s economy and the backbone of domestic production. However, he noted that the sector continues to face challenges, including limited access to financing, technology adoption and market access.
He welcomed the forum and expressed confidence that cooperation between GDCE and FASMEC would help address these obstacles and create a more favourable business environment for SMEs.
Kun Nhem, Director General of GDCE, said the customs authority has continued implementing reforms and modernisation programs aimed at facilitating trade, reducing business costs and improving private-sector competitiveness.
He highlighted progress in customs digitalisation, the implementation of the National Single Window system and customs incentives for SMEs, which have helped shorten customs clearance procedures and improve public service efficiency.
Kun Nhem expressed confidence that stronger cooperation between GDCE and FASMEC would enhance public-private partnerships, improve the business climate, facilitate trade and increase the competitiveness of Cambodian products.
Aun Pornmoniroth praised the joint initiative by GDCE and FASMEC in organising the forum, calling it an important platform for strengthening cooperation between the government and the private sector while promoting SME development in Cambodia.
He reaffirmed that the government considers SMEs a strategic priority for job creation, domestic production and economic growth. At the same time, the government has encouraged the consumption of locally made products to reduce reliance on imports, strengthen economic resilience and reinforce the country’s production base.
To support SME development, the government has introduced a range of policies and measures, including tax incentives, improvements to the business environment, trade facilitation, enhanced access to finance, credit guarantees, entrepreneurship promotion, digital technology adoption, skills development, and product standardisation.
The deputy prime minister also informed participants about the development of a national SME strategy and the establishment of a digital registration and classification mechanism through the CamDX platform to improve SMEs’ access to government support.
He further provided recommendations to GDCE, FASMEC, relevant ministries and SMEs, emphasising the need to continue strengthening trade facilitation, implementing fiscal incentives, enhancing public-private dialogue, expanding access to finance and supporting capacity building. He also encouraged SMEs to improve product quality, adopt digital technologies and strengthen competitiveness to expand into domestic and international markets.
During the event, GDCE and FASMEC signed a memorandum of understanding on cooperation to support SME development. The agreement aims to strengthen public-private partnerships, establish more effective dialogue and information-sharing mechanisms, enhance awareness of customs procedures and help SMEs benefit from government incentives and trade facilitation measures.
The two-day forum features technical presentations, panel discussions and question-and-answer sessions covering SME registration, support policies, tax incentives, trade facilitation and export-import promotion, all aimed at enhancing awareness and supporting the growth of Cambodia’s SME sector.
=FRESH NEWS
