Cambodia is going to mark its first National Day of Micro, Small, and Medium-sized Enterprises (MSME Day 2024) on June 27, under the theme: “Better MSME Ecosystem for Better Growth.”

The event will be presided over by H.E. Akka Pundit Sapheacha AUN Pornmoniroth, Deputy Prime Minister and Minister of Economy and Finance.

According to the Ministry of Industry, Science, Technology and Innovation, the upcoming celebration will facilitate partnerships and networking opportunities among MSMEs, government, private stakeholders, and development partners to support the growth and competitiveness of the sector. It will also seek to contribute to the development of an inclusive and supportive enabling ecosystem for MSMEs to thrive in Cambodia.

The United Nations General Assembly has designated June 27 as International MSME Day to highlight the critical role MSMEs play in sustainable, inclusive, and resilient economic growth. Globally, MSMEs constitute 90 percent of businesses, 60-70 percent of employment, and 50 per
cent of GDP.

In Cambodia, MSMEs are the backbone of the economy, playing a crucial role in employment, food security, and poverty reduction. With the potential to increase value-added, diversify products and services, expand markets, and integrate into global value chains, MSMEs are key drivers in Cambodia’s journey to becoming an upper middle-income economy by 2030 and a high-income country by 2050.

The National MSME Day 2024 aims to increase awareness and provide MSMEs with practical insights and best practices for unlocking their growth potential and global competitiveness through formalisation and compliance, standards adoption, access to finance and market intelligence utilisation.

Source: Agence Kampuchea Presse