- April 6, 2020 12:04 PM
- May 25, 2020 4:39 AM
- November 23, 2020 3:05 AM
Khmer Enterprise (KE), a unit under the Ministry of the Economy and Finance, on March 28 announced the launch of its new Export Market Development Grant (EMDG) for SMEs.
The grant program aims to provide financial support to SMEs to increase their export potential by lowering the cost of export market promotion and development to international markets.
The program, in line with the Royal Government of Cambodia’s strategy to internationally promote Cambodian-made goods, will reduce the relatively high-cost burden SMEs face to market their goods on the global stage and reduce the cost pressures from the impact of the COVID-19 pandemic.
The program is solely funded by Khmer Enterprise and co-designed and managed by the management consultancy firm Emerging Markets Consulting (EMC).
H.E. Dr. Chhieng Vanmunin, CEO of Khmer Enterprise said, “SMEs play a vital part in our economy and it is necessary to support their international outreach to promote the quality of Cambodian made goods. The development of export markets and international consumer interest is an important step to show off the potential of many home-grown quality Cambodian products”.
The grant program offers Cambodian SMEs to reimburse 50% of expenses that have been incurred since January 2019 relating to the marketing of their goods in international markets. The program particularly focuses on SMEs that already export to foreign markets but also incentivizes more SMEs to conduct investment in activities that develop new or existing markets.
SMEs face a wide variety of costs to develop export markets. These can include costs for travel to potential international customers and events, product adaptation, marketing at trade events, hire of consultants for business, tax & legal advice that may be required in specific export markets, and other costs associated with meeting international certification standards.
The program is open to all registered SMEs exporters providing their application meets KE’s expense and eligibility criteria. Register for the Export Market Development Grant Information Session at: https://bit.ly/3CN5Wob to get more information about the grant and how to apply. Apply for the EMDG program at: https://forms.gle/fLsVz19NaJsfGC136.