Cambodian entrepreneurs recognised as pillars of market stability, drivers of confidence restoration

Cambodian entrepreneurs recognised as pillars of market stability, drivers of confidence restoration

Cambodian Entrepreneurship Day 2025 opened today under the theme “Vision 2030: Invest for the Future.” Co-organised by the Young Entrepreneurs Association of Cambodia (YEAC) and the Global Entrepreneurship Network Cambodia, the event brought together about 300 entrepreneurs, investors, and policymakers to discuss Cambodia’s economic transformation and resilience.

At the opening ceremony, Hem Vanndy, Minister of Industry, Science, Technology & Innovation (MISTI) and Chairman of the Board of Trustees of Khmer Enterprise, underscored the crucial role of Cambodian entrepreneurs amid shifts in the regional supply chain, including disruptions caused by the Cambodia–Thailand border conflict and Thailand’s unilateral border closures.

“During this supply-chain shift, it is our local entrepreneurs who step forward, adapt quickly, and expand production and services,” Minister Vanndy said, commending Cambodian entrepreneurs for their resilience. “You are the pillar that keeps goods moving, factories operating, and markets supplied.”

He also stressed the importance of strengthening local production capacity to secure Cambodia’s long-term economic sovereignty, noting that entrepreneurs are central to transforming Cambodia from a consumption-based market into a nation capable of designing, producing, packaging, and exporting with confidence.

Addressing challenges faced by the private sector, Minister Vanndy encouraged entrepreneurs to formalize their businesses, strengthen financial records and governance, invest in capacity building and technology, and fully leverage government and financial-sector support to improve access to capital.

He further highlighted a current “confidence deficit” in the market, emphasising the need for investors and business leaders with capital to feel secure enough to start new ventures and to trust capable teams to manage day-to-day operations.

Cambodia is scheduled to graduate from Least Developed Country (LDC) status by the end of 2029. The resilience of local enterprises will be critical to both a successful graduation and the nation’s efforts to escape the middle-income trap, he added. 

khmertimeskh