The government-funded Khmer Enterprise (KE) and the American Chamber of Commerce in Cambodia (AmCham) have forged a partnership that will centre on building and promoting a sustainable and workable ecosystem for small- and medium-sized enterprises (SME) and entrepreneurs in the Kingdom.
A memorandum of understanding (MoU) was signed to this effect on September 3 by KE CEO Vanmunin Chhieng and AmCham president Anthony Galliano.
AmCham said in a statement: “The MoU solidifies a cooperative relationship whereby both have reciprocal commitments to support a vibrant entrepreneurial ecosystem and cultivate entrepreneurial activities driving innovation and value-added creation in Cambodia’s economy.
“The MoU creates a collaboration framework with an agreement to hold joint and co-branded events, training workshops, seminars, business matchings, business promotions, pitching events and entrepreneurial culture promotions.”
Under the MoU, “AmCham will provide capacity upgrading, mentorship and share information on American business in Cambodia to support the initiative as part of the agreement”, the statement added.
KE’s Chhieng said the partnership would “accelerate and advance” his mission of entrepreneurship ecosystem building.
“With this MoU, AmCham, as a new partner, will contribute to our vision of becoming the national platform for promoting entrepreneurial activities,” he said.
AmCham’s Galiano said that with this collaboration, the chamber would provide expertise and resources to help and support the improvement of SMEs and start-ups in Cambodia.
“We wholeheartedly embrace this opportunity to unite with Khmer Enterprise in providing the resources, expertise and network to develop and advance the business marketplace and economy in the Kingdom, in support of start-ups, entrepreneurs and SMEs.
“We are committed to engagement, action and results in support of the business community and marketplace we operate in for the good of our membership and the country,” he said.
The Ministry of Industry, Science, Technology and Innovation late in May revealed plans to submit a Draft Law on Small and Medium Enterprises to the Ministry of Economy and Finance “soon” for further review and input, after a technical working group had completed the document.
The ministry’s director-general for Small and Medium Enterprises and Handicrafts Chhea Layhy told The Post that the law was drawn up to smoothen the process for SMEs and provide them with the needed support to gain greater market opportunities.
He said: “This law will also help reduce unfair competition. In particular, our goal is to boost markets and production chains by ramping up the production that uses local raw materials as much as possible.”