Cambodian Prime Minister Samdech Akka Moha Sena Padei Techo Hun Sen expressed his full support to the SMEs’ productivity in the Kingdom.

The SMEs and handicrafts are considered the backbone of the national economy, with more than 90 percent of enterprises in Cambodia being small and medium enterprises and handicrafts, which provide more than 70 percent employment, equivalent to about 58 percent of the GDP, he said.

Recognising the importance of SMEs, the Royal Government of Cambodia has allocated budgets and introduced tax reduction measures to support their activities during the COVID-9 crisis, he recalled.

Besides, Samdech Techo Hun Sen said the Royal Government is preparing a draft law on SMEs and policies to further promote and support the SMEs.

According to the President of the Federation of Associations of Small and Medium Enterprises of Cambodia (Fasmec), Oknha Te Taing Por, there are in total more than 700,000 bases of SMEs and handcrafts in Cambodia, of which 7 percent are in the manufacturing sector, equivalent to more than 40,000 bases, and about 80 percent are food processing factories, and 2,000 are large-scale factories.

Source: Agence Kampuchea Presse