SME Development Policies Ready in Few Months

Procedure and framework to promote small and medium-sized enterprises, so-called SME Development Policies, is expected to be ready in few months.

The update was shared on Tuesday by Senior Minister and Minister of Industry and Handicraft H.E. Cham Prasidh who is leading the compilation of the policies.

His ministry, he added, is sending the drafted SME development policies for review of technical team at the Ministry of Economy and Finance that might take about a month to look into the document before endorsing for approval by the Council of Ministers.

Once done the policies are expected to further support domestic small and medium-sized enterprises to be more competitive in regional and international markets.

Along with the policies, the Royal Government of Cambodia is also investing US$100 for SME bank to allow more encouraging and supportive loans among existing and potential entrepreneurs to run their small and medium businesses.

According to the record of the Ministry of Industry and Handicraft, Cambodia has currently some 520,000 small and medium-sized enterprises � of them, nearly 157,000 are small and medium-sized factories and handicrafts across the country.

Source: Agency Kampuchea Press