Cambodia will mark its first national day of micro, small and medium enterprises (MSME Day 2024) on June 27, themed "Better MSME Ecosystem for Better Growth", with Deputy Prime Minister and Minister of Economy and Finance Aun Pornmoniroth overseeing the event.

The UN General Assembly has designated the day as International MSME Day to underscore the vital role of these enterprises in economic growth.

According to a June 13 press release from the ministry, MSMEs, which make up 90 per cent of businesses, 60-70 per cent of employment and 50 per cent of GDP globally, are crucial to Cambodia’s economy, driving employment, food security and poverty reduction. They are essential in the nation’s goal of becoming an upper-middle-income country by 2030 and high-income by 2050.

The event aims to provide these enterprises with insights on formalisation, compliance, standards adoption, access to finance and market intelligence through practical insights and best practices which will help them unlock their full growth potential.

“The event will facilitate partnerships and networking opportunities among MSMEs, the government, private stakeholders and development partners [DPs] to support the growth and competitiveness of the sector,” stated the press release.

The initiative also supports the country’s vision of developing an inclusive and supportive ecosystem for MSMEs to thrive.