Phnom Penh, Cambodia – Kampong Thom province has officially launched a comprehensive Entrepreneurship Support Cluster program, targeting students, new businesses, small-scale farmers, and micro, small, and medium-sized enterprises (MSMEs). This initiative, spearheaded by Mr. Vongsey Visoth, Permanent Deputy Prime Minister and Minister in charge of the Office of the Council of Ministers, is poised to significantly enhance Kampong Thom’s economic competitiveness.
Mr. Vongsey Visoth articulated that the program aims to foster the creation of innovative products and added value, thereby diversifying the province’s economic foundation. The ultimate goal is to establish Kampong Thom as a pivotal economic pillar for Cambodia, contributing substantially to national growth and prosperity.
The Entrepreneurship Support Cluster, designed to empower its target beneficiaries, was formally inaugurated on June 6th under the distinguished presence of Mr. Vongsey Visoth. He extended high commendation to Cambodian Entrepreneurs (KE), the Kampong Thom Provincial Administration, relevant ministries and institutions, and the private sector for their collaborative efforts in organizing this vital program.
According to a press statement from the Office of the Council of Ministers, Mr. Vongsey Visoth emphasized that this program is crucial for bolstering the capabilities of business owners, traders, farmers, and especially young entrepreneurs and startups within Kampong Thom. By nurturing their competitive edge and capacity for innovation, the program seeks to ensure these enterprises can thrive and sustainably grow, thereby diversifying the provincial economy and elevating it to a key contributor to Cambodia’s national economic landscape.
This initiative aligns perfectly with the Cambodian government’s overarching vision for Kampong Thom, aiming to transform it into a hub for production, investment, and tourism. Such a transformation is expected to generate new jobs, increase income opportunities, and significantly improve the livelihoods of its residents.
Despite Kampong Thom’s considerable potential, including its vast land area and large population, its socio-economic development has been comparatively modest. Mr. Vongsey Visoth highlighted that the province exhibits a low per capita Gross Domestic Product (GDP) growth rate and a high poverty rate, with a relatively small number of commercial enterprises compared to other Cambodian provinces. This situation underscores that many residents still rely on traditional family-based farming, indicating a limited level of entrepreneurship within the province.
He stressed the imperative of promoting entrepreneurship, likening entrepreneurs to “economic generals” who drive development, foster growth, and create added value. This, in turn, facilitates a more equitable distribution of economic benefits, ultimately enhancing the well-being of the population. The government consistently recognizes the private sector, encompassing farmers, artisans, and all business owners – representing Cambodia’s approximately 10 million-strong workforce – as the primary creators of economic value.
For Mr. Vongsey Visoth, the Entrepreneurship Support Cluster will serve as a training ground, nurturing both innate talent and those eager to learn and embark on business ventures, transforming them into these crucial “economic generals.” He further elaborated that while entrepreneurship requires inherent tenacity, curiosity, and a determined attitude, its success also heavily depends on a supportive ecosystem, encompassing favorable social, economic, and technological environments. Only with such an environment can entrepreneurs truly flourish.
In a rapidly changing global landscape, marked by evolving geopolitical, economic, technological, and environmental dynamics, Cambodia must continually reassess and update its frameworks for cultivating private sector leaders and pioneers, especially new entrepreneurs. Mr. Vongsey Visoth underscored the urgent necessity for Cambodia to strengthen its domestic production capabilities, enhance competitiveness, reduce reliance on imports, and boost local manufacturing and services. He firmly believes that the Entrepreneurship Support Cluster will play a pivotal role in building local capacity for goods production, serving both domestic consumption and export markets. This approach also signifies a shift from dependency to empowerment, teaching individuals how to generate income for themselves, rather than merely providing handouts – a concept he simplified as “teaching to fish, rather than giving fish.”
“This is how true economic development should be pursued by a country, and it must be implemented across all provinces for us to achieve true strength,” the Permanent Deputy Prime Minister stated. He strongly encouraged all authorities, relevant institutions, and government working groups to provide their full support for the successful implementation of this program, benefiting the people and the entire province of Kampong Thom. “Everyone must consider their participation as a contribution to national building and strengthening our nation’s capacity for a prosperous future,” Mr. Vongsey Visoth concluded.
