Thammasat University students interested in ASEAN studies, Cambodia, Lao PDR, business, economics, political science, foreign policy, and related subjects may find it useful to participate in a free 15 July Zoom webinar on SME Participation in the Digital Economy: Cambodia and Lao PDR.
The event, on Tuesday, 16 July 2024 at 9am Bangkok time, is presented by ISEAS – Yusof Ishak Institute, Singapore.
The TU Library collection includes several books about different aspects of small and medium-sized enterprises (SMEs) in The Association of Southeast Asian Nations (ASEAN) states, including Cambodia and the Lao People’s Democratic Republic (LPDR).
Students are welcome to register for the event at this link:
https://us06web.zoom.us/webinar/register/1917181856171/WN_XcRpHTuySyKaAU0PjvPslw#/registration
As explained on the event website,
Small and medium-sized enterprises (SMEs) have a significant presence in Southeast Asia. They account for 90% of total enterprises and about 70% of total employment in the region, respectively. A number of policies have been implemented in Southeast Asian countries to support the participation of SMEs in the digital economy. This webinar will explore the state of SMEs’ participation in the digital economy in two countries, namely, Cambodia and Lao PDR. It will examine some of the on-going challenges facing SMEs in adopting digital technologies in these two countries. The webinar will also provide policy assessments and recommendations for digital transformation of SMEs.
About the Speakers
Dr Sothea Oum is Senior National Economist and Consultant at the United Nations Development Programme (UNDP), Cambodia. […]
Dr Phouphet Kyophilavong is Professor of the Faculty of Economics and Business Management, National University of Laos. […]
Earlier this year, the Lao New Agency reported:
The Asian Development Bank (ADB) and the United States Agency for International Development (USAID) jointly announced the launch of ADB Frontier’s inaugural Seed Fund. The fund will provide catalytic funding and technical support to growing, technology-enabled small and medium enterprises (SMEs) in the Lao PDR and Cambodia, with a strong focus on economic inclusivity and climate action.
The Asian Development Bank (ADB) and the United States Agency for International Development (USAID) jointly announced the launch of ADB Frontier’s inaugural Seed Fund. The fund will provide catalytic funding and technical support to growing, technology-enabled small and medium enterprises (SMEs) in the Lao PDR and Cambodia, with a strong focus on economic inclusivity and climate action.
USAID contributed $3 million to the fund, which has also received support from the Republic of Korean’s Ministry of Economy and Finance and the ADB.
“ADB Frontier is a visionary development initiative that invests in growing, technology-enabled gazelle’ SME companies and gives them the capital and tools they need to build and transform local industries in the Lao PDR.” said Sonomi Tanaka, ADB Country Director to the Lao PDR.
“USAID is proud to partner with ADB and the Republic of Korea in the Frontier Seed Fund. The contribution uniquely bolsters USAID’s support to the Lao PDR’s National Socio-Economic Development Plan in the areas of SME development and green growth. It fills an important gap between USAID’s technical assistance to the private sector and sustainable commercial financing, which is critical for the Lao PDR to successfully recover from the COVID economic downturn,” said USAID Laos Deputy Country Representative Cullen Hughes.
The launch event took place at the offices of Loca, the country’s leader in e-mobility and digital payments. Loca exemplifies the kind of company that the ADB Frontier Seed Fund aims to support.
The launch event announced two additional initial ADB Frontier beneficiaries: The Green and Slow Forest. The Green is modernizing chicken egg production in the Lao PDR through technology and digitization, emphasizing the enhancement of livelihoods of local farmers while addressing climate change. Slow Forest is targeting net zero coffee production by 2030 while championing forest biodiversity and helping farmers achieve higher and more stable incomes.
The Asian Development Bank is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members49 from the region.
USAID partners with Laos to improve the climate for investment and trade, enhance the competitiveness of Micro, Small and Medium Enterprises, strengthen governance and the rule of law, improve energy sector growth and climate resilience, and advance health and education outcomes for Lao people.
Last year the Khmer Times explained:
SMEs continue to play an important role in the Cambodian economy
Small and medium enterprises (SME) contribute 98 percent of all businesses in Cambodian and contribute about 58 percent of the kingdom’s GDP.
Oknha Koy Lesan said that currently the number of entrepreneurs in the SME sector is increasing steadily in Cambodia and the growth of many young entrepreneurs have seen growth as well, which shows a positive sign for the sector. […]
This year The Khmer Times noted:
SMEs registration inches up to 443,628 last year
The Ministry of Industry, Science, Technology, and Innovation (MISTI) registered a new growth of small and medium enterprises (SMEs) by 1.43 percent to 44,628 last year, an official report showed.
The registered SMEs created a total 463,966 jobs for Cambodian people, up 2.86 percent from 2022, according to the ministry’s annual report.
The report stated that in 2023, the ministry registered 1,406 new SMEs, generating 20,653 jobs for local people.
The new registration of the SMEs has resulted from the efforts of the ministry, said MISTI Minister Hem Vanndy.
“These efforts have reflected the ministry’s commitment to developing entrepreneurs and boosting a sound environment for business growth,” Vanndy said at an annual meeting held on Wednesday.
According to the report, food and beverage processing SMEs accounted for 64.9 percent or 28,966 of the total registered SME, followed by steel processing and weaving and garment with 5,493 (12 percent) and 3,527 (7.9 percent) respectively.
The government considers the SME sector as the backbone of the economy, creating stimulus programs that have been put in place to help the sector, said Prime Minister Hun Manet.
“The foundation of our economy, our economic structure depends on the private sector as the core force. In particular, SMEs are the foundation of our economy,” the Prime Minister said at a closing ceremony annual meeting of the Ministry of Industry, Science, Technology, and Innovation held on Wednesday.
Noting that SMEs as the backbone of a sustainable economy, the premier said the government’s policy is to continue to focus on the SMEs through the Ministry of Industry, Science, Technology and Innovation as a staff, while the national economic base is strong due to the private sector.
To support financially, the government decided to establish SME Bank as a commercial bank with the bank’s strategic intent and direction being primarily coherent with the policies set by the government, assuring a reliable and sustainable banking system for all small and medium enterprises.
The Small and Medium Enterprise Bank of Cambodia Plc. has disbursed more than $200 million in loans to at least 2,500 SMEs to help them expand their businesses. […]
(All images courtesy of Wikimedia Commons)