Ministry and German aid agency launch SME programme

Sum Manet / Khmer Times No Comments Share:
Monday’s agreement signing and launching ceremony for the MSMEs Development Programme. Freshnews

The Ministry of Industry and Handicrafts and GIZ on Monday launched the Micro, Small and Medium Enterprises (MSME) Development Programme, a project that aims to improve management, production and quality standards among local enterprises.

For in depth analysis of Cambodian Business, visit Capital Cambodia
.

At the launch, the parties also signed an implementation agreement for the programme.

The ceremony, held at the Phnom Penh Water Supply Authority, was presided over by Son Seng Huot, under-secretary of state at the Ministry of Industry, and GIZ country director Dr Gunter Riethmacher.

Laim Kim Leng, director-general of the SME department, thanked the government and GIZ for giving their resources to help develop the SME sector.

He said the project focuses on strengthening management capacity, production and hygiene standards among local firms.

Mr Seng Huot said the MSME Development Programme will be used to keep firms up-to-date with the latest policies governing the sector and the incentives to which they have access.

“Today we will collect input from all stakeholders, particularly GIZ, on the challenges Cambodian SMEs face. This information will be used to define a new indicator to help SMEs improve production and expand their operations.

“In addition to granting tax incentives and expanding access to finance for SMEs, the government is also working to find solutions for other important challenges, including the quality of products and human resources training,” Mr Seng Huot said.

Mr Seng Huot called on SMEs to endeavour to adopt the latest technology to enhance their competitiveness at home and abroad.

The General Department of Taxation in December issued a notification on the implementation of Sub-decree No 124, which set up tax incentives for SMEs in selected industries.

Share and Like this post

Related Posts

Previous Article

Laos-Vietnam trade over $1 bln in 2018

Next Article

Germany to consult further before deciding on Huawei