Vijian Paramasivam
In a significant boost to women entrepreneurs in Cambodia, Pact’s Women Entrepreneurs Act (WE Act) initiative, in collaboration with USAID, hosted the 5th Women’s Entrepreneurship Forum and Local Trade Fair over a two-day event. The gathering, focused on “Access to Legal Business Information, Finance, and Markets for Women’s Business Growth for Micro, Small, and Medium Enterprises,” saw participation from 200 vendors and 300 attendees.
Launched in 2018, the WE Act project is a five-year initiative funded by USAID. It aims to empower women and youth to gain better access to finance, market information, and socio-economic rights. The program has been pivotal in creating a vibrant entrepreneurship ecosystem, bridging the gap between female entrepreneurs and essential resources to expand their businesses.
The trade fair showcased an array of products from women entrepreneurs, ranging from footwear and clothing to snacks and farm produce. This gathering not only offered networking opportunities but also signaled a broader shift in the business landscape for women entrepreneurs in Cambodia. It brought together key stakeholders—including financial institutions, ministries, and private sector participants—to foster a more supportive environment for women in business.
Women Entrepreneurs Are the Backbone of The Economy
Sabine Joukes, the Chief of Party for WE Act/Pact Cambodia, spoke to Cambodia Investment Review about the landscape for women in business. “There is a growing interest and desire for collaboration. Women entrepreneurs are the backbone of the economy, and we aim to support the transition from micro to small, and from small to medium enterprises,” said Joukes. “Most of the existing support frameworks cater mainly to larger enterprises due to their louder voice in the ecosystem. The realization that small businesses across the country need relevant support is now dawning upon us,” she added.
The Ministry of Women’s Affairs Secretary of State, Koung Sorita, emphasized the importance of the forum during her opening speech. “The forum is designed to strengthen the ecosystem for supporting women entrepreneurs in accessing specific information and economic rights, and to create business opportunities in connection with networks and product promotions. Participants will also gain insights into the rights and laws pertinent to business development,” she said.
Thomas White, the USAID Cambodia Director of Democracy and Governance Office, echoed the overall sentiments. “Empowering Cambodian women entrepreneurs is a priority for USAID. This forum will help women overcome challenges in the evolving economic environment, further aggravated by the COVID-19 pandemic. Women are cornerstone members of a democratic society, both individually and collectively,” said White.
Lacking The Skills and Knowledge to Fully Capitalize
However, the situation is not without its challenges. Ham Sunry, the Executive Director of the Federation of Associations of Small and Medium Enterprises of Cambodia (FASMEC), pointed out that although the government is actively supporting women entrepreneurs, they often lack the skills and knowledge to fully capitalize on these opportunities. “Some women, especially from rural areas, find it hard to apply for loans due to limited knowledge of documentation requirements, and some lack the confidence to participate in international events due to language barriers,” said Sunry.
Sabine concluded with a forward-looking statement. “One point we are trying to address is the stereotype surrounding women entrepreneurs who are often perceived as running micro businesses. We aim to instill confidence in these women so they can build their small enterprises into medium ones, contributing not just to the economy but also to their families.”
This event represents a significant step in encouraging and supporting women entrepreneurs in Cambodia, offering a multi-dimensional approach to overcome barriers and foster business growth. With such initiatives, the future appears promising for Cambodian women in the business sector.
