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Khmer Enterprise, a unit under the Ministry of Economy and Finance, has officially launched the second cohort of its Export Market Development Grant (EMDG) program today. Cohort 1 of EMDG ran from March to July 2022. During cohort 1, the program received nearly 90 applications ranging from different sectors with more than 50 applications from agriculture, 26 applications from manufacturing, and 8 applications from services sectors.
The program is solely funded by Khmer Enterprise and co-designed and managed by Emerging Markets Consulting (EMC). H.E. Dr. Chhieng Vanmunin, CEO of Khmer Enterprise, stated, “With Cambodia’s recent opening from travel restrictions in recent months along with other countries across the globe, this program is uniquely positioned for SMEs to be incentivized in developing new export markets. Expanding international market access for local SMEs is one of Khmer Enterprise’s strategic initiatives to align with the Royal Government of Cambodia’s post-Covid economic recovery.”
“The EMDG program is a wonderful opportunity for SMEs to increase their export potential as it helps lower the cost of export development to international markets and allows SMEs to invest in more export promotion activities,” said SMEs from Cohort 1. With the feedback from SMEs in Cohort 1, EMDG Cohort 2 is designed to provide further benefits to SMEs to develop their export markets with a more simplified and streamlined application process.
The EMDG Cohort 2 reimburses up to 50% of eligible expenses relating to the export market development plan. With a forward-looking approach, SMEs can plan their future promotional activities and build their export markets with greater certainty and confidence.
The development of international markets and export promotion activities are crucial for SMEs to increase their exports yet many of these activities have been disrupted due to the COVID-19 pandemic. The EMDG program is particularly built to support exporters and aspiring exporters to step forward and develop and grow their export markets globally.
The program is open to all Cambodian registered firms providing their application meets KE’s expense and eligibility criteria. More information about the EMDG program and eligibilities can be found in the Application Guide.
Apply for the EMDG program via https://bit.ly/3AQquwS
Deadline: September 16, 2022
For further inquiries, please register for the EMDG Info Session via https://bit.ly/3Pygsoi