Cambodian Tycoon Advocates Local Products to Boost Economy

In a recent forum discussing the economic landscape of Cambodia, Tycoon Te Tang Po, President of the Cambodian Association of Small and Medi...

In a recent forum discussing the economic landscape of Cambodia, Tycoon Te Tang Po, President of the Cambodian Association of Small and Medium Enterprises, emphasized the quality and diversity of Cambodian products. Tang Po highlighted that these products are on par with those of neighboring countries, catering well to the needs of consumers.

During the "Economic and Real Estate Situation 2024" forum organized by the Club of Cambodian Journalists, Tang Po expressed concerns over the narrow international market for Cambodian goods, despite notable improvements in production quality within the country.

With the upcoming Small and Medium Enterprise Day (SEM Day), Tang Po announced plans for an extensive exhibition showcasing approximately 500 Cambodian products. He urged fellow Cambodians to rally behind local goods, advocating for their promotion and marketing on a global scale to drive export growth.

Tang Po's commitment to bolstering Cambodia's export sector was underscored by his decision to establish a company dedicated to exporting Cambodian products abroad. This initiative aims to tap into foreign markets and enhance the international presence of Cambodian goods.

In light of concerns about the influx of substandard imports from neighboring countries, Tang Po proposed stricter regulations to curb their entry into the Cambodian market. By safeguarding against inferior products, he aims to uphold the reputation and integrity of locally-produced goods.

The exponential growth of small and medium enterprises (SMEs) in Cambodia reflects a thriving entrepreneurial landscape. With over 700,000 SMEs, of which more than 40,000 are registered with the Ministry of Industry, Science, Technology, and Innovation, Cambodia's business ecosystem is vibrant and diverse.

Tang Po emphasized the importance of SMEs in driving economic growth and fostering innovation. By encouraging support for local businesses, he envisions a more resilient and self-sustaining economy that prioritizes indigenous talent and resources.

As Cambodian products continue to gain recognition for their quality and authenticity, efforts to promote and expand their reach are paramount. Tang Po's advocacy for local products reflects a broader commitment to nurturing Cambodia's economic prosperity and fostering a sense of pride in its homegrown industries.