Phnom penh: Cambodian Entrepreneurship Day 2025 opened today under the theme 'Vision 2030: Invest for the Future.' Co-organised by the Young Entrepreneurs Association of Cambodia (YEAC) and the Global Entrepreneurship Network Cambodia, the event brought together about 300 entrepreneurs, investors, and policymakers to discuss Cambodia's economic transformation and resilience.
According to Agence Kampuchea Presse, at the opening ceremony, H.E. Hem Vanndy, Minister of Industry, Science, Technology and Innovation (MISTI) and Chairman of the Board of Trustees of Khmer Enterprise, underscored the crucial role of Cambodian entrepreneurs amid shifts in the regional supply chain, including disruptions caused by the Cambodia-Thailand border conflict and Thailand's unilateral border closures.
Minister Vanndy praised Cambodian entrepreneurs for their ability to adapt swiftly during supply-chain disruptions, noting their role in maintaining the flow of goods, keeping factories operational, and ensuring market supply. He stressed the importance of bolstering local production capacity to secure Cambodia's long-term economic sovereignty, positioning entrepreneurs as key figures in the transformation from a consumption-based market to a nation proficient in designing, producing, packaging, and exporting confidently.
He highlighted the challenges faced by the private sector, urging entrepreneurs to formalize their businesses, enhance financial records and governance, invest in capacity building and technology, and fully utilize government and financial-sector support to improve access to capital.
Minister Vanndy also addressed a "confidence deficit" in the market, stressing the need for investors and business leaders with capital to feel secure in starting new ventures and trusting capable teams to manage day-to-day operations. He emphasized that the resilience of local enterprises will be critical for Cambodia's scheduled graduation from Least Developed Country (LDC) status by the end of 2029 and for overcoming the middle-income trap.