The Definition of SMEs in Cambodia
Small and Medium-sized Enterprise (SME) development is crucial for the sustained and equitable development of the Cambodian economy. Evidence from more economically developed Asian nations demonstrates that SMEs have considerable potential for driving economic growth.
The Royal Cambodia government started to classifies the SME divided into three categorial; Agriculture, Industry, and Services and Trading. Each sector complies with staff requirements, and size of annual products denote as small or medium.
From 5 to 49 staff consider as small, and from 50 to 199 as a medium enterprise. While annual products, each sector has a different classification. From 62250$ to 250000$ considered as small-sized for the agriculture sector, and 250001$ to 1000000$ as medium-sized.
Industry sector, from 62500$ to 400000$ considered as small, while medium-sized from 400001$ to 2000000. For Service and Trading, small-sized started from 62500$ to 250000$, while medium-sized from 250001$ to 1500000$.
Following the law, the relevant ministry is responsible for permit registration licenses and examining. The Ministry of Industry Science Technology and Innovation (MISTI) engaging with relevant ministries to ensure all process of SME effectively.
Source: Definition of SMEs in Cambodia
Photo courtesy: KhmerSME
July 15, 2021
