Phnom Penh (FN), Apr. 10 – Cambodian prime minister Hun Sen said that the Royal Government has been working hard to improve the efficiency of small and medium enterprises (SMEs) through the introduction of the National Nursery System, online business registration, online payment systems, online tax declaration system and so on.

The premier spoke during his sodality dinner with SMEs members on Monday (Apr 10) at Diamond Island.

In 2020, the Royal Government established SME Bank of Cambodia to provide support and set up support mechanisms for the development of SMEs during the COVID19 outbreak. Meanwhile, the bank has been providing loans to SMEs through direct financing project and co-financing project.

Samdech continued, in terms of tax measures, the Royal Government has prepared laws and regulations to provide tax incentives to SMEs that are registered voluntarily and to those in priority areas. As for customs measures, the Royal Government has developed tax policies and mechanisms to encourage customs to reduce production costs and increase the competitiveness of SMEs in Cambodia.