Investment Framework Key for SME Sector's Covid-19 Recovery

Khmer Enterprise must continue implementing co-investment frameworks and priority sectors for investment to grow the country's SME sector in the wake of the pandemic, according to the Entrepreneurship Development Fund.
Vongsey Vissoth, Entrepreneurship Development Fund Chairman of the Board of Trustees. Kiripost via EDF
Vongsey Vissoth, Entrepreneurship Development Fund Chairman of the Board of Trustees. Kiripost via EDF

Co-investment framework and priority sectors to invest and co-invest in are among areas for Khmer Enterprise (KE) to further execute, said Entrepreneurship Development Fund (EDF) in a news release last week, after its board of trustees meeting.

The meeting, chaired by Vongsey Vissoth, EDF Chairman of the Board of Trustees, was held a week after the funding arm of the Ministry of Economy and Finance (MEF) met with more than 30 key players from Cambodian venture capital and private equity firms.

Vissoth, also MEF’s permanent secretary of state, will be a key speaker to discuss Cambodia’s startups and SME ecosystem at a luncheon next week, to be organized by EuroCham.

The KE chairman will also discuss MEF's perspective on the government's Covid-19 Recovery Plan for Startups and SMEs and its vision for 2030.

The EDF’s board of trustees meeting set a strategic direction for the last quarter of 2022 to align with EDF's vision and missions,

“which is to build a vibrant ecosystem in Cambodia while focusing on economic diversification, productivity improvement, and job creation".

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The meeting also resulted in KE expanding its network and partners with business and investors' associations to promote SMEs linkage and exports; provide further support to the potential awardees and alumni to scale their business; and to gather inputs from the demand side to reshape and reassess its strategic directions and programs.

Last month's consultative workshop recommended boosting financial assistance by categorizing the fund into specific sectors and funding stages, more training to grow fund managers, qualify startups and SMEs, and a campaign for a risk acceptance culture, and entrepreneurial mindset.