The private sector’s Working Group C (WG-C) on “Manufacturing, Small and Medium Enterprises (SMEs) and Services” is currently collating issues from across Cambodia to draft a joint proposal that will be presented to the government for consideration during the Government-Private Sector Forum (G-PSF), scheduled for mid-November.

The October 4 meeting at the Cambodian Chamber of Commerce (CCC), involving both in-person and virtual participation, was led by Te Taingpor, co-chair of WG-C, alongside representatives from the Federation of Associations for SMEs of Cambodia (FASMEC), and various private companies operating within the manufacturing, SME and service sectors.

Taingpor, who also serves as the president of FASMEC, told The Post on October 5 that the government views the private sector, notably the manufacturing and SME segments, as crucial drivers for accelerating national economic growth. The goal is for Cambodia to reach the status of an upper-middle-income nation by 2030 and a high-income nation by 2050.

He emphasised that SMEs constitute over 90 per cent of all businesses in Cambodia, underlining their importance to the country’s economy.

The recent meeting’s objective was to assess the ongoing challenges faced by the private sector and to initiate discussions regarding emerging challenges.

“The aim is to gather feedback and issues to present to the Ministry of Agriculture, Forestry and Fisheries by next week. This will then lead up to the G-PSF meeting in November,” Taingpor stated.

FASMEC actively promotes the SME sector’s growth by offering free training sessions to farmers across all 25 provinces. These workshops encompass various topics, including processing, transportation, export procedures and taxation.

During a New Year celebration in April, then-Prime Minister Hun Sen highlighted the indispensable role of SMEs in the socio-economic fabric of Cambodia. He observed that in smaller nations, SMEs not only spur economic growth and generate employment but also significantly contribute to wealth creation and play a vital role in combating poverty.

He stressed that the government regards SMEs as the backbone of the Cambodian economy and an instrumental ally in its socio-economic progress.