The Ministry of Economy and Finance of Cambodia has signed a Memorandum of Understanding (MoU) with key SME associations to promote digitalization among businesses. The MoU, signed by Secretary of State in the Ministry of Economy and Finance of Cambodia, H.E. Dr. KONG Marry and representatives from three local SME groups, aims to enhance technological knowledge and skills for business owners, fostering a more vibrant digital business ecosystem.
This collaboration will introduce various initiatives to support businesses in adopting digital tools for increased productivity, economic efficiency, and competitiveness. The Federation of Associations for Small and Medium Enterprises of Cambodia (FASMEC) and the Cambodian Women Entrepreneurs Association (CWEA) emphasized the importance of digitalization, particularly for SMEs and women entrepreneurs.
A 2024 report states that Cambodia has around 750,000 businesses, with 97% being micro, small, and medium enterprises (MSMEs).
The government is encouraging formal registration of MSMEs to access support programs and has established SME Bank to provide financial assistance, ensuring a sustainable banking system for SMEs.
