Cambodia has a total of 520,000 small and medium enterprises, created 820,000 jobs

The State Secretary and Spokesperson of the Ministry of Industry, Science, Technology and Innovation revealed on April 23 that by the end of 2019, Cambodia had 520,000 small and medium-sized enterprises, provided 824,245 jobs.

He said, "Not only in Cambodia, other countries in the world, the number of small and medium-sized enterprises are numerous, Small and medium-sized enterprises plays an important role in driving the national economy. Small and medium-sized enterprises (SMEs) in Cambodia account for 99.8% of the total number of enterprises, which means The number of small and medium-sized enterprises in the country has reached about 520,000, the jobs provided account for 70% of the national employment, and the product sales share accounts for 58%. " the spokesperson added that in many developed countries in the world, small and medium Enterprises are regarded as pillar industries driving the economy. Under the leadership of Cambodian Prime Minister Hun Sen, the government attaches great importance to promoting the development of small and medium-sized enterprises.

He said that recently, the Government and the Ministry of Industry, Science, Technology and Innovation have established the SMEs Bank, which aims to provide low-interest financing services to small and medium-sized business owners. The interest is only 7%. The bank ’s initial capital It ’s $ 100 million.

It is worth mentioning that in the rectangle strategies of the government's four-corner strategy, it explained the promotion of small and medium-sized enterprises, as well as the establishment of small and medium-sized enterprise banks, the introduction of preferential tariff policies to support small and medium-sized enterprises, and the establishment of foundations to establish Investment in training centers and establishment of entrepreneur development funds are aimed at supporting the development of small and medium-sized enterprises. ( Source from TNAOT)