Cambodia: Growth opportunity for Indian SMEs | SupportBiz

Managing Growth

Cambodia: Growth opportunity for Indian SMEs

 
Cambodia offers a number of favorable conditions that a typical Indian SME would like and need for global partnerships in the ASEAN region. This South Asian country is growing at a rate of 10 percent per annum, for the last 10 years.

According to Dinesh Patnaik, Ambassador of India in Cambodia, the time is right for Indian SMEs to look at Cambodia as a key partner for accessing the ASEAN market, as well as to be a part of the Cambodian growth story.

The Embassy of India in Cambodia, in association with the Federation of Association for Small and Medium Enterprises of Cambodia (FASMEC), organized a Business Marker event in Phnom Penh, Cambodia, in the first week of December, 2012. The theme of the event was ‘Small Business –Big Opportunities’. The event coincided with the visit of the Confederation of Indian Industry (CII) delegation, consisting of Indian SMEs, to Cambodia.

KKM Kutty, leader of the CII SME delegation to Cambodia and Past Chairman of the CII National MSME Council, acknowledged the relevance and importance of this initiative for Indian SMEs. He said, “This dialogue will develop a better environment for co-operation between India and Cambodia. Indian SMEs represent a low-investment, high-return opportunity for Cambodian SMEs, who can source niche products from India. The capabilities of being reliable, quality-conscious, flexible and adaptable make Indian SMEs a preferred partner for international business.”

Phok Sovannarith, Secretary of State, Ministry of Industry, Mines & Energy, Cambodia, said that the India-Cambodia business relationship is based on mutual respect and co-operation. Seeking support and co-operation from the SMEs from India, he stated that Cambodian SMEs look up to India to study their business practices to achieve the end of developing globally competitive Cambodian enterprises.

Ratinesh Kumar, Managing Director of Noida-based ProMedical Tech believes that this forum has brought great advantages for his business. He stated, “I have been working with the Cambodian market for the past few years. I believe that this event and invitation from Cambodia will help further develop better business ties between the two countries. Ultimately, it will impact our businesses positively.”

The event saw several discussions between stakeholders from India and Cambodia, which included talks on opportunities in various business sectors. Opportunities for business were specially identified in SMEs in agro industries, agricultural equipments, food processing, hand and machine tools, industrial vocational training, IT education, engineering and medical products, textiles, auto components, logistics, packaging, and railway equipment construction.