A hundred and twenty five small and medium enterprises (SMEs) will receive grants and training in e-commerce through an investment of $500,000 investment from Cambodia’s ministry of commerce, the Enhanced Integrated Framework (EIF) and the UN Development Programme (UNDP). The funds will fuel an innovative six-month incubation and training initiative and small grants programme to help SMEs shift online.
A new online marketplace is being developed by the ministry. A quota is reserved for businesses owned by women and businesses based outside Phnom Penh.A hundred and twenty five small and medium enterprises will receive grants and training in e-commerce through an investment of $500000 from Cambodia's ministry of commerce, the Enhanced Integrated Framework and the UN Development Programme.The funds will fuel a six-month incubation and training initiative and small grants programme to help SMEs shift online.#
This joint initiative will form one of the key components of Cambodia’s e-commerce acceleration project (Go4eCam) that aims to boost domestic and international opportunities for SMes through a digital platform and create over 10,000 new jobs by 2022 as the one of the main objectives of Go4eCAM.
Cambodia’s e-commerce sector has grown exponentially in the last decade and the enhanced support comes as the COVID-19 pandemic has forced many more businesses to move online. E-commerce and digitization are seen as crucial to ensure a full, rapid and sustained economic recovery for the country.
The Cambodian government has stepped up efforts in recent years to strengthen the country’s e-commerce ecosystem, including regulatory framework and strategy, UNCTAD said in a press release.
In support of Cambodia’s response to COVID-19, UNDP is working to reskill workers, support the onboarding of 1,000 SMEs into the e-commerce market and promote the adoption of e-commerce across the country through an advocacy campaign to create a robust regulatory environment with support from the government of Australia.
Fibre2Fashion News Desk (DS)
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