Phnom Penh: H.E. Hem Vanndy, Minister of Industry, Science, Technology and Innovation, held a meeting on Monday with representatives from the Canadian Chamber of Commerce in Cambodia (CanCham) to explore enhanced collaboration in advancing SME innovation through the Cambodia Enterprise Innovation Index (CEII).

According to Agence Kampuchea Presse, the Ministry of Industry, Science, Technology and Innovation emphasised the importance of the CEII as a tool for benchmarking and enhancing innovation within Cambodia’s business ecosystem. H.E. Hem Vanndy underscored the need for data-driven insights and the engagement of the private sector to support SMEs, large enterprises, and informal businesses.

The Minister stated, “We must make every effort through initiatives like the CEII to move our entrepreneurs toward innovation and our 2050 goal.” CanCham expressed strong support for the CEII, acknowledging its potential in promoting competitiveness and modernising SMEs. Mr. Victor La, Director of Strategic Planning at CanCham, noted the vast applications of the tool and expressed readiness to help market it to members and the wider ecosystem.

Both parties concurred on the necessity to align efforts and collaboration with Cambodia’s Pentagonal Strategy to create a robust, incentive-based innovation ecosystem.