Focus Cambodia sat down with Khmer Enterprise’s CEO, Dr Chhieng Vanmunin, to discuss entrepreneurship in Cambodia, the group’s role in the ecosystem, and what the future holds for enterprise in the Kingdom
How do Cambodia’s thousands of SMEs contribute to the national economy and why is it important to support this level of entrepreneurship here?
Small and Medium Enterprises (SMEs) contribute to local communities in distinct ways compared to large corporations. As SMEs expand, they bolster the local economy by sourcing necessary raw materials, thereby supporting the surrounding community.
Nevertheless, for SMEs to thrive and expand, they must establish connections with medium enterprises and larger corporations. While corporate entities typically engage with other sizable businesses, the benefits often fail to trickle down to communities. By facilitating partnerships between numerous SMEs and a select few major corporations, a value chain will emerge, linking the benefits directly to the people.
How does Khmer Enterprise support SMEs and startups in expanding into regional and international markets?
We are involved in supporting a number of different projects, with one particular initiative standing out as having the potential to significantly boost the economy: assisting SMEs in producing high value-added products through processing. Processing, whether aimed at local or international markets, can significantly enhance the appeal and profitability of businesses.
In general, we believe that the international market offers greater value for many businesses. However, to enter the international market, producers must adhere to strict compliance standards, ensuring they meet all the laws and regulations of destination countries.
Consequently, we are actively collaborating with various stakeholders in this area. We support businesses in exporting their products to Europe, Canada, and Japan through partnerships with local entities. These initiatives align with our goal of fostering and supporting robust value chains.
What are your hopes for the future of Khmer Enterprise and Cambodia’s entrepreneurial ecosystem?
I am hopeful that more people will be interested in Khmer Enterprise programmes. While not all participants will achieve success, the number of successful ventures depends on the quantity and quality of SMEs participating.
Without entrepreneurship, individuals tend to stick to the status quo, hindering the creation of innovative solutions. Therefore, entrepreneurship plays a crucial role in generating new wealth. For example, startups create numerous new jobs worldwide. Similarly, we are dedicated to creating a new source of innovation and income for people. It is important to provide opportunities for young people with aspirations to build something new.
We believe Cambodia harbours numerous hidden gems. By engaging with people and exploring their capabilities, one often discovers unexpected talents. This realisation leads to the question: How can we be part of their journey and help them achieve their ambitions?
