Cambodian Prime Minister Hun Manet recently emphasized the significant contribution of Small and Medium Enterprises (SMEs) to the country’s economic fortification. He acknowledged the pivotal role that the private sector, especially SMEs, plays in underpinning the national economy.
During his address, Prime Minister Hun Manet drew an analogy between SMEs and the foundational base of a towering structure, suggesting that just as a skyscraper relies on a robust foundation for its durability, the strength of the national economy is similarly anchored by the vitality and resilience of SMEs.
He pointed out that in many developed nations, SMEs constitute up to 95 percent of all businesses, underscoring their critical role in economic systems worldwide. Specifically, for Cambodia, the Prime Minister referenced data from 2018, indicating that SMEs represent over 99 percent of all businesses within the country. This statistic highlights the overwhelming prevalence of SMEs in Cambodia’s economic landscape and underscores their crucial role in driving economic activity, innovation, and employment across the nation.
