Three local and international institutions have jointly launched a new initiative platform called “Enhancing Entrepreneurial Ecosystem and Investment (3EI) to assist all forms of business in Cambodia.
The funding for this project comes from the Swiss Agency for Cooperation and Development (SDC), Khmer Enterprise (KE), and the Korea International Cooperation Agency (KOICA). The implementation of the initiative is a collaborative effort between KE and Swisscontact Cambodia.
During the event, two main activities took place: the unveiling of the six brands under the 3EI initiative and the signing of a memorandum of understanding (MoU) between donors supporting the 3EI initiative, namely SDC, KE and KOICA.
The 3EI initiative aims to attract impact investing capital into Cambodia. It supports impact enterprises in accessing both financial and non-financial support to drive business growth and create social and environmental impact. Additionally, the initiative seeks to strengthen the entrepreneurial ecosystem by improving coordination and enhancing efficiency within the system.
According to a joint press release, 3EI will address four core issues of interest for small and growing businesses (SGBs) in Cambodia. These interventions include enhancing connections and collaborations, strengthening mentorship for entrepreneurship and innovation, establishing a blended finance service facility, and strengthening data to foster investment.
Chhieng Vanmunin, CEO of KE, which is affiliated with the Ministry of Economy and Finance, said the initiative will provide targeted financial and non-financial support to unlock the growth potential of local businesses in Cambodia.
He emphasised that collaborative support, including technical assistance for investment, capacity upgrading for ecosystem support organisations (ESOs), and facilitating connections among like-minded parties, will strengthen and fortify Cambodia’s entrepreneurial ecosystem.
In the previous year, KE, Swisscontact Cambodia and Pact Cambodia successfully collaborated on the Entrepreneurship Ecosystem Building Project (EBB), which laid the foundation for the initiatives now being undertaken under the 3EI platform.