Cambodia boosting inclusive businesses

• Mar 22, 2021

Cambodia is taking the lead in ASEAN regional adoption of the model for inclusive businesses by launching the Inclusive Business Landscape Study Report.

The study was announced at the inaugural Inclusive Business Champions Meeting for Cambodia, which was held virtually  under the direction of Cham Prasidh, Senior Minister, Minister of Industry, Science, Technology and Innovation. Inclusive businesses are sustainable business entities that productively integrate low-income populations into their value chain, said the minister. They contribute vitally to providing deals for income generation and promoting poor and low-income populations sustainably, he said.  “This is why it is necessary to encourage inclusive business companies to join the government to attain our vision for the nation reaching high-income country status by 2030,” Prasidh said.

Inclusive business models seek to create value for low-income communities by integrating them into a company’s value chain on the demand side as clients and consumers, or on the supply side as producers, entrepreneurs or employees, in a sustainable way. The inclusive business report is important to Cambodia, said Meng Nimol, deputy director-general of Cambodia Chamber of Commerce.

“The official launch of the study report will have an impact on the development of human resources and the exchange of experiences on the landscape of inclusive businesses in Cambodia and ASEAN,” said Nimol. ASEAN members endorsed the guidelines for promotion of inclusive businesses in September 2020.

The guidelines provide a greater understanding of these dynamics for ASEAN members and the region collectively to move on to consider integrating inclusive business in their national and regional policies, said Bountheung Douangsavanh, chair of the ASEAN Coordinating Committee on Micro, Small and Medium Enterprises.

Cambodia is the first country to adopt inclusive business in the region. It will organise the fifth ASEAN Inclusive Business Summit and third ASEAN Inclusive Business Awards in 2022.

Source: https://www.khmertimeskh.com/50828275/cambodia-boosting-inclusive-businesses/