Large-scale resumption of production of Cambodian small and medium-sized enterprises boosts economic recovery

　　China News Agency, Phnom Penh, November 28 (Reporter Ouyang Kaiyu) The Cambodian Ministry of Industry, Technology and Innovation reported on the 28th that Cambodian small and medium-sized enterprises that had stopped work due to the epidemic have resumed production on a large scale.

　　Han Suguang, State Secretary and spokesperson of the Ministry of Industry, Science, Technology and Innovation of Cambodia, said that as the epidemic slowed down, Cambodia reopened its country on November 1 and fully restored all walks of life.

So far, about 43,000 SMEs across the country have resumed work and production.

These enterprises are engaged in manufacturing, food and agricultural products processing, etc.

　　Han Suguang said that small and medium-sized enterprises are one of the core engines of Cambodia's economic development. There are about 520,000 small and medium-sized enterprises in Cambodia.

　　According to reports, in order to assist small and medium-sized enterprises through the epidemic crisis, the Cambodian Ministry of Finance and Economics previously cooperated with more than 20 financial institutions to launch a joint financing plan worth 100 million US dollars to provide preferential loans to small and medium-sized enterprises.

　　Under the relevant financing plan, small and medium-sized enterprises can apply for a maximum of US$200,000 in working capital and a maximum of US$300,000 in investment capital.

The maximum interest rate of the loan is 7% per year and the repayment period is 4 years.

In addition, the collateral depends on the standards of each participating financial institution.

　　It is also reported that the Ministry of Commerce of Cambodia has formulated a short- and medium-term e-commerce development roadmap, promulgated and implemented e-commerce strategies, and established e-commerce projects to meet the development requirements of the rapidly evolving e-commerce field. It also provides opportunities for SMEs, women and young entrepreneurs. Provide opportunities to participate in the digital economy.

　　With the assistance of the "Strengthening Comprehensive Framework" advocated by the World Trade Organization, Cambodia completed the formulation of the "E-Commerce Strategy" in July 2020. The purpose is to help local SMEs develop and build Cambodia into a regional and even global e-commerce hub.

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