In a bid to boost the SME sector, the Ministry of Industry and Handicrafts is drafting a law to regulate the construction of industrial parks dedicated to small businesses, an official revealed yesterday.
The sub-decree is now being drafted and will seek to regulate the development and management of SME clusters in the Kingdom, said Ky Seng Hoir, deputy director at the SME department.
“Every SME industrial park will have to follow this law,” he said.
Mr Seng Hoir could not provide a tentative date as to when the law could be passed but said the sub-decree will set the minimum area for an SME industrial park at 10,000 square metres.
“Once finished, the law will be sent to Prime Minister Hun Sen for approval,” he added.
The first industrial park for small and medium enterprises in Cambodia is now being developed in Kandal province by Worldbridge Group. Construction began in 2017.
Worldbridge’s park is located on four hectares of land in S’ang district and will specialise in the food and beverage industry.
“We will create SME clusters in every corner of Cambodia that has raw materials,” group chairman Sear Rithy said, adding that they are targeting Sihanoukville to build the next park.
According to the Ministry of Industry and Handicrafts, there are 530,000 SMEs in Cambodia, 97 percent of which have fewer than 10 employees and thus classify as micro-enterprises.