PM Reaffirms MSMEs as Backbone of Economic Growth
PM Reaffirms MSMEs as Backbone of Economic Growth
As Cambodia marks its second National Micro, Small and Medium Enterprises (MSMEs) Day under the theme “MSMEs Readiness for LDC Graduation”, Prime Minister Samdech Moha Borvor Thipadei Hun Manet reiterated the sector’s essential role in driving economic growth and social development.
In an open message to cheer the MSMEs Day on June 27, the Prime Minister highlighted that the sector spans all economic activities, generating employment, boosting incomes, curbing migration, improving livelihoods, upholding social stability, and contributing to private sector development.
Looking ahead to Cambodia’s anticipated graduation from the United Nations’ Least Developed Countries (LDC) category in 2029, Samdech Thipadei Hun Manet called on the MSMEs stakeholders to continuously strengthen their capacity, build consumer trust, and seize new opportunities in an increasingly competitive business, trade and investment shaped by rapid technological change and economic uncertainty.
He acknowledged the government’s ongoing support for the sector through targeted policies and strategies, including the integration of digital technologies to enhance MSME growth.
The Prime Minister also commended the progress made so far, particularly in increasing financial inclusion and formalising informal enterprises.
According to Samdech Thipadei Hun Manet, Cambodia’s banking system has provided loans to 820,987 MSME owners and operators, amounting to 85,330 billion Riel (approximately US$21.3 billion), which represents around 36 percent of the total loan portfolio.
Over the past six months alone, some 70,000 informal businesses have registered, gaining official recognition and access to various government benefits, he added.
Expressing optimism for the future, Samdech Thipadei Hun Manet reaffirmed his unwavering commitment to strengthening the MSME sector and ensuring its continued contribution to Cambodia’s socio-economic development.
By Thyda You
