Logo of Phnom Penh Post newspaper Phnom Penh Post - GIZ fund of $4.5M to reinforce Kingdom’s SMEs

GIZ fund of $4.5M to reinforce Kingdom’s SMEs

Content image - Phnom Penh Post
Ministry of Industry and Handicrafts undersecretary of state Son Seng Huot and a GIZ representative signed off on the aid on Thursday at the “National Website for Small and Medium Enterprises” workshop in Phnom Penh. Thou Vireak

GIZ fund of $4.5M to reinforce Kingdom’s SMEs

German international development organisation Deutsche Gesellschaft fur Internationale Zusammenarbeit (GIZ) will provide $4.5 million in aid to promote a small- and medium-sized enterprise (SME) development project in four Asean countries, including Cambodia.

In Cambodia, Ministry of Industry and Handicrafts undersecretary of state Son Seng Huot and a GIZ representative signed off on the aid on Thursday at the “National Website for Small and Medium Enterprises” workshop in Phnom Penh.

However, neither party disclosed the financial share for the Kingdom.

GIZ said the assistance falls under the Asean-German Cooperation’s Strengthening Regional Structures for Small and Medium Enterprise Promotion in Asean project.

Lor Sathya, the deputy director-general of the ministry’s General Department of Small and Medium Enterprises and Handicrafts, said the three-year project will be implemented in Cambodia, Laos, Myanmar and Vietnam.

The funds will help SMEs access critical public services related to business processes, as well as technological education, new technologies, various services and business communication networks, Sathya said.

“The project will help strengthen the ability of Cambodian SMEs to gain access to the international market and facilitate the context of policies and regulations in the regional business environment.

“Establishing appropriate information relay systems, consultation networks and structure to the development of Cambodian SMEs will help strengthen their ability to compete with foreign SMEs,” he said.

GIZ country director for Cambodia Gunter Riethmacher said the project aimed to improve information systems and promote services for SMEs within the framework of the Asean Strategic Action Plan for SME Development 2016-2025.

He said it will also improve the Asean SME Service Centre, reinforce the National SME Information Centre and promote national SME services for internationalisation.

“The GIZ agreements on Asean Small and Medium Enterprise Projects 2019-2021 is also to develop the National SME Information Centre for Cambodia and its action plan,” he said.

A survey from the ministry said 71 SMEs need assistance in improving in certain areas – including hygiene standards, market research, service development and packaging, technology, human resources and labour, access to finance, business registration and taxation.

MOST VIEWED

  • Ministry issues warning over coronavirus outbreak

    The Ministry of Health on Wednesday asked the public to be on “high alert” as a new virus wreaks havoc across Asia. However, no cases have been reported in the Kingdom thus far. The 2019 Novel Coronavirus (2019-nCoV) has raised the alarm for its similarity to

  • Call for boycott of Angkor unacceptable

    Dear Editor, I wish to express my strong disagreement on the article published by Traveller for their website with the title Best places to go in 2020: 12 destinations you should avoid. Below is my opinion of the article. It is obviously free for the Traveller to

  • No power shortages next dry season, says energy minister

    Minister of Mines and Energy Suy Sem has assured the public that Cambodia will not suffer power shortages during the next dry season. Speaking on local TV on Tuesday, Sem projected a rise in power demand during 2020’s dry season – which starts in November and

  • Gov’t slams NGO over 2019 corruption report

    The government on Thursday slammed a report that described the Kingdom as highly corrupt. Government spokesperson Phay Siphan dismissed the latest Transparency International (TI) report as “just an advertisement of NGOs to promote their own interests”. Released on Thursday, the report puts Cambodia near the

  • Gov’t takes steps to lower logistics, transport costs

    With the threat of losing trade privileges in the EU drawing closer, the government is taking measures to reduce logistics and transportation costs to safeguard the Kingdom’s competitiveness. The EU is due to decide whether or not to withdraw the Kingdom’s trade privileges

  • App to connect farmers to millions

    The Ministry of Agriculture, Forestry and Fisheries has soft-launched a mobile app that connects farmers with potential buyers and gives them access to critical market information. The ministry’s Agriculture Marketing Office chief Meach Yady said the ‘CamAgriMarket’ app gives farmers a platform to showcase