Cambodia Investment Review
Entrepreneurship development serves as a catalyst for economic growth and development in the context of a world economic turnaround. It can enhance the Cambodia’s competitiveness in the global market by creating new businesses, generate employment opportunities, and drive innovation.
Hence, to provide further support programs that could address the challenges being faced by SMEs and to foster the growth of the entrepreneurial ecosystem in Cambodia, on March 9th, 2023, Entrepreneurship Development Fund (EDF) organized the Annual (14th) Board of Trustees meeting chaired by His Excellency Vongsey Vissoth, Minister Attached to the Prime Minister, Permanent Secretary of State of the Ministry of Economy and Finance, and Chairman of the Board of Trustee of Entrepreneurship Development Fund.
With the participation of:
- H.E. Hem Vanndy, Secretary of State of Ministry of Economy and Finance and Vice Chairman of the Board of Trustee of the EDF
- H.E. Dr. Kong Marry, Under Secretary of State of Ministry of Economy and Finance and Chairman of the Board of Techo Startup Center
- Neak Oknha Sear Rithy, Founder and Chairman of Worldbridge International Group
- Dr. Hor SereyVath, Chairman of the Board of IDI Capital Plc.
- Mr. Michael Tan, Founder and Director of AQUARII
- Mr. Thy Hourn, Senior Operation Officer of International Finance Corporation (IFC)
- Mr. Heang Chan, Co-Founder and CEO of Prelim
- H.E. Chea Kok Hong, Secretariat Director of EDF
- H.E. Dr. Chhieng Vannmunin, CEO of Khmer Enterprise
The main objectives of the meetings are to review KE’s 2023 Annual Work Plan Budget and to set further direction with the vision to build a vibrant entrepreneurial ecosystem in Cambodia.
Review and approve 2023 Annual Work Plan
Consequently, the board of trustees approved KE 2023 Annual Work Plan Budget and expressed high gratitude toward the works progress and consequences that EDF/KE have delivered over the past year.
The board of trustees discussed and advised EDF/KE to continue implementing programs based on a two-tiered approach: (1) general approach: implement existing and high demand programs to provide continuous support for building a vibrant entrepreneurial ecosystem and (2) strategic approach: implement additional strategic and result-oriented programs that targets specific firms, products, and locations.
Furthermore, KE is aiming to increase support programs for informal sectors, SMEs, and well-established businesses to enhance access to export market, and raw materials for local production.