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Local entrepreneurship award applications ending soon

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Tan Kosal, Director of National Institute of Entrepreneurship and Innovation (NIEI) of the Ministry of Labour and Vocational Training (MLVT). KT/Siv Channa

Cambodia’s first National Entrepreneurship Awards 2020 has already received more than 150 applicants with the application deadline to be closed at the end of this month and the winner awarded in August.

The award has been designated by categories – agriculture sector, service-tourism, information and technology and manufacturing. The first prize will receive $10,000, with a second prize of $5,000 and $3,000 for the third prize.

The National Entrepre- neurship Awards has been created to support entrepreneurship and innovation among startup, small and medium-sized enterprises (SMEs) and agro-processing, manufacturing, information communication technology, services and hospitality.

The competition process is in five areas: Siem Reap, Battambang, Sihanoukville, Svay Rieng province and Phnom Penh.

The award is the first platform of its kind hosted by the government, supported by the Ministry of Economic and Finance, through Khmer Enterprise and the Ministry of Labour and Vocational Training; Ministry of Commerce and Ministry of Industry, Science, Technology and Innovation.

The decision process has been broken down into a series of sequences: January to April for partnerships and networking to develop, May for the award programme orientation, June to July to decide categories and August for actual awards.

It’s hoped the move will raise public awareness of the important role of entrepreneurs of small and medium enterprises among nongovernmental organisations (NGOs), the private sector, public institutions, youths, innovators and successful entrepreneurs at the national level for Cambodian- produced goods and services, said Tan Kosal, Director of National Institute of Entrepreneurship and Innovation (NIEI) of the Ministry of Labour and Vocational Training (MLVT) at the news conference on Friday.

He said that starting from 2020 the government will make this award an annual event to support and promote entrepreneurship and innovation.

Tan Kosal, Director of NIEI (L), Dr. Chhieng Vanmunin, CEO of Khmer Enterprise (Centre) and Lim Aun, CEO of Sathapana Bank (R). KT/ Siv Channa

“It is also hoped the event will strengthen the engagement of public-private partnerships in contributing to the Kingdom’s economic development and corporate social responsibility through sharpening the culture of entrepreneurship in Cambodia,” said Kosal.

Dr Chhieng Vanmunin, chief executive officer (CEO) of Khmer Enterprise, also said the main purpose of the award is to boost the entrepreneurship in Cambodia. He said that Khmer Enterprise has observed that day by day the growth of entrepreneurs in Cambodia has been increasing remarkably either in the agriculture sector, technology, services and other sectors which are potential to push the growth.

“This National Entrepre- neurship Awards 2020 will push entrepreneurs to show their ability as well as innovation in the enterprises and products, to increase the competition. We hope that there will be participation from the private sector and public, and to build the entrepreneurship sector in Cambodia,” said Vanmunin.

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