PHNOM PENH: The Royal Government has partnered with the Swiss Agency for Development and Cooperation (SDC) and the Korea International Cooperation Agency (KOICA) to improve conditions which will allow for growth in Cambodia’s entrepreneurial sector. On May 26, the partners revealed their 3Ei initiative, which aims to change the Cambodian small business landscape by investing in small businesses and startups and addressing the obstacles that often stand in their way.

The Enhancing Entrepreneurial Ecosystem and Investments (3Ei) initiative will focus on Small and Growing Businesses (SGBs), which are defined as commercially viable firms with a workforce between 5 to 250 and seeking growth capital ranging from $20,000 to $2 million and are often overlooked by private and public economic initiatives. The 3Ei initiative will offer financial and non-financial support to local businesses to unlock their growth potential.

The program will function under a four point strategy highlighting Connection for Collaboration, Data, Blended Finance Facility, and Entrepreneurship and Innovation. The goal is to use these strategies to connect SGB owners to resources that will help them reach their full potential.

The 3Ei initiative was designed in line with the Royal Government of Cambodia Digital Economy and Society Framework for the 4th Industrial Revolution. According to Markus Buerli, the Director of Cooperation of SDC, the initiative also aligns with Cambodia’s Sustainable Development Goals for 2030. Kim Junsu from KOICA emphasized the initiative’s potential for fostering socio-economic development in between Korea and Cambodia.