Phnom penh: The Ministry of Industry, Science, Technology and Innovation (MISTI) on Friday launched a Lancang-Mekong Cooperation project aimed at strengthening productivity and digital adoption among micro, small and medium enterprises (MSMEs) in Cambodia, Lao PDR, and Viet Nam through regional policy support and knowledge sharing.
According to Agence Kampuchea Presse, the launch ceremony was co-presided over by Minister Hem Vanndy and Ambassador Wang Wenbin. The event gathered participants from government institutions, embassies of Lao PDR and Viet Nam, development partners, and the private sector. Minister Vanndy emphasized the crucial role of MSMEs as the backbone of the national economies of Cambodia, Lao PDR, and Viet Nam, highlighting their contribution to employment, income generation, innovation, and inclusive development.
Minister Vanndy pointed out that in today's rapidly changing global economy, digital technology and innovation have become pivotal in determining the competitiveness of MSMEs, as well as the resilience of both national and regional economies. Despite MSMEs accounting for between 88.8 percent and 99.9 percent of enterprises across ASEAN, they face challenges such as low productivity, limited digital skills, lack of access to digital technologies, and slow adoption of emerging technologies.
The 15-month project, funded by the Government of the People's Republic of China through the Lancang-Mekong Cooperation Special Fund, has a budget of approximately US$170,000. It focuses on strengthening MSME digital transformation in Cambodia, Lao PDR, and Viet Nam, with a particular emphasis on green and women-led enterprises.
Ambassador Wang Wenbin remarked on the significance of this year marking the 10th anniversary of the Lancang-Mekong Cooperation framework, which has become a model for regional development and cooperation. He expressed China's readiness to collaborate with Mekong countries to pursue 'LMC 2.0,' characterized by unity, cooperation, openness, win-win outcomes, green innovation, peace, and tranquility, and to jointly welcome a new golden decade of Lancang-Mekong Cooperation.
Cambodia has been a significant beneficiary of this cooperation, having received 106 projects since 2017 under the Lancang-Mekong Leadership Cooperation Special Fund.