Logo of Phnom Penh Post newspaper Phnom Penh Post - Forum discusses inclusive biz, achieving UN SDGs

Forum discusses inclusive biz, achieving UN SDGs

Content image - Phnom Penh Post
A woman makes street snack banh cheo. The First Inclusive Forum for Cambodia was held in Phnom Penh on Wednesday to discuss inclusive business. UNESCAP

Forum discusses inclusive biz, achieving UN SDGs

The Ministry of Industry and Handicrafts, with the UN Economic and Social Commission for Asia and the Pacific (Unescap) and the Inclusive Business Action Network (iBAN), held the First Inclusive Forum for Cambodia in Phnom Penh on Wednesday.

High-level government officials and executive managers from inclusive businesses, intermediary and international organisations and other public and private stakeholders attended the forum.

Discussions at the forum were intended to form the preliminary results of a joint landscape study by Unescap and iBAN on inclusive business recently conducted in the Kingdom.

“Inclusive business is the deliberate approach of the private sector to promote – through a commercial business approach – the poverty reduction and social agenda of the UN’s Sustainable Development Goals [SDGs].

“Inclusive business makes growth in Cambodia more inclusive, dynamic, and it is instrumental for structural transformation to become an upper middle-income country,” said Heng Sok Kung, secretary of state at the Ministry of Industry.

The landscape study, which is expected to be published at the end of this year, includes an analysis of companies with inclusive business models in Cambodia and the environment in which firms operate.

The study found that Cambodia has around 20 real and potential inclusive businesses, mostly in agribusiness, insurance, microfinance and energy services – some of them with highly innovative models.

It also estimates that with an enabling environment for inclusive business models, firms in Cambodia could generate some 100,000 new income-generation activities in the next three years, serve around 70,000 low-income households through housing and municipal services and provide insurance to 600,000 low-income individuals.

Based on the study and discussions with key stakeholders, an Inclusive Business Enabling Environment for Cambodia strategy was also proposed and presented at the forum, it said.

The strategy includes the establishment of a technical assistance facility to provide, among other things, coaching for firms to develop inclusive business models.

It also proposes the creation of an accreditation system for inclusive business, a risk reduction fund to facilitate impact investment in inclusive business and a steering committee.

The proposed strategy has been accepted by the ministry, which will submit it for endorsement by the Supreme National Economic Council before the end of this year.

Association of Southeast Asian Nations (Asean) members adopted the Asean Inclusive Business Framework in 2017.

Cambodia is the third Asean country to develop a comprehensive strategic framework for promoting inclusive business.


  • ‘Education’ a priority traffic-law penalty

    A top National Police official on June 21 neither rejected nor confirmed the authenticity of a leaked audio message, which has gone viral on social media, on a waiver of fines for a number of road traffic-related offences. General Him Yan, deputy National Police chief in

  • Pursat Ford assembly plant opens

    The Kingdom’s first Ford assembly plant was inaugurated on June 16 in Pursat province amid rising demand for brand-new vehicles among Cambodians. The facility is seen as a game changer for the domestic automobile industry, which could bring a wave of investors seeking to cash

  • Siem Reap’s $18M zoo said to educate public, help wildlife

    Angkor Wildlife and Aquarium Co Ltd has invested $18 million in a zoo in Siem Reap province, which will be opened in October to educate and promote animal conservation as well as attract national and international tourists. Currently, the Angkor Wildlife and Aquarium is building the

  • Volunteer scheme to foster ‘virtuous’ humanitarian spirit

    A senior education official said volunteer work contributes to solidarity and promotes a virtuous humanitarian spirit among the youth and communities. Serei Chumneas, undersecretary of state at the Ministry of Education, Youth and Sport, made the comment during the opening of a training programme called “

  • $50B infrastructure plan en route

    The government’s upcoming $50 billion,10-year infrastructure master plan will provide tremendous investment opportunities for domestic and foreign entities, transport experts and economists say. Minister of Public Works and Transport Sun Chanthol revealed the plan to Japanese ambassador to Cambodia Masahiro Mikami on June 15. At

  • Chinese firms unveil preliminary results on metro, monorail for capital

    Minister of Public Works and Transport Sun Chanthol and representatives from China Road and Bridge Corp (CRBC) and its parent company, the state-owned China Communications Construction Co Ltd (CCCC), met on June 24 for talks on results of the firms’ preliminary study on a potential metro