The Cambodian Prime Minister envisions the indispensable contribution of micro, small, and medium enterprises (MSMEs) to achieving Cambodia’s Sustainable Development Goals 2030 as well as inclusive and lasting socio-economic growth.
Samdech Moha Borvor Thipadei Hun Manet made this highlight in an open letter to mark Cambodia’s first national MSMEs Day themed ‘Better MSMEs Ecosystem for Better Growth’ which falls on June 27.
Cambodia’s MSMEs cover a broad range of economic activities and benefit many through creating jobs, reducing migration, stabilising livelihoods, especially for the marginalised, promoting social stability, and vitalising the private sector, he added.
According to Samdech Thipadei Hun Manet, MSMEs make up 90 percent of the total production and business operations globally, securing between 60 and 70 percent of Cambodia’s employment and contributing 50 percent to the world’s gross domestic product (GDP).
In Cambodia, he added, the 2022 census indicates that there are 753,670 MSMEs employ
ing 2,980,569 workers (almost 62 percent of them are women), and the sector contributes 63 percent to Cambodia’s GDP.
The Prime Minister reaffirmed that, building on the efforts of the previous mandate, the current mandate of the Royal Government is deeply committed to implementing policies and strategic plans to further develop the sector.
Source: Agence Kampuchea Presse