SME

MoU Signed to Strengthen Cambodia’s SME Sector

Cambodia’s entrepreneurs and SME sector is set to be strengthened after an agreement between EuroCham and Cambodia Women Entrepreneurs Association pledges to promote a sustainable ecosystem, with a focus on female-led businesses
Keo Mom, CWEA president, shakes hand with Denis Sainte-Marie, EuroCham Executive Director, after MoU signing in Phnom Penh. Kiripost via EuroCham
Keo Mom, CWEA president, shakes hand with Denis Sainte-Marie, EuroCham Executive Director, after MoU signing in Phnom Penh. Kiripost via EuroCham

The European Chamber of Commerce and Cambodia Women Entrepreneurs Association (CWEA) have united to promote a sustainable ecosystem for entrepreneurs and SMEs while also boosting Cambodia's exposure as a foreign investment destination.

On Monday, the two entities signed a Memorandum of Understanding (MoU) that focuses on gender equality and empowering women to occupy more top-level roles, while also elevating women working for both informal and registered SMEs and micro-enterprises.

The MOU allows both parties to co-host events, such as seminars, forums, business publications, networking events, workshops, and training sessions.

Also, it enables CWEA and EuroCham to explore new collaborative angles on themes such as company growth, market expansion, and awareness of trade facilitation and trade policy concerns that will benefit local startups and SMEs looking to export.

Keo Mom, CWEA president, said the MoU will contribute to Cambodia’s SME sector, of which 65 percent are owned by women.

“On behalf of CWEA, it is a great honor and pleasure for me to have the opportunity to sign this MoU between the European Chamber of Commerce in Cambodia and CMEA to strengthen the mission of both associations and contribute to the country’s economic growth,” she said in a press release from EuroCham.

Denis Sainte-Marie, EuroCham Executive Director, said the chamber is looking forward to the increased partnership and joint activities between the two organizations.

“As we look forward to approving a new board of directors, this is a chance to prioritize gender equality and engage on initiatives that will uplift female entrepreneurs and improve the overall landscape for startups and entrepreneurs in the Kingdom,” he said in the press release.

EuroCham will set up a tailored training program on logistics and supply chain management, focused on upskilling local SMEs run by CWEA members, as one of the first actions undertaken under the new agreement.

The CWEA will also collaborate closely with EuroCham on the SPEC Programme, an SME empowerment initiative by Swisscontact, Khmer Enterprise, and EuroCham.

A working group formed of both organizations' members will meet twice a year to discuss future partnerships.