New Lancang-Mekong project to boost MSME digital shift in Cambodia, Laos and Vietnam

The Ministry of Industry, Science, Technology and Innovation (MISTI) yesterday launched a Lancang-Mekong Cooperation project to strengthen productivity and digital adoption among micro, small, and medium enterprises (MSMEs) in Cambodia, Lao PDR, and Viet Nam through regional policy support and knowledge sharing.

The launch ceremony was jointly chaired by MISTI Minister Hem Vanndy and Chinese Ambassador Wang Wenbin, with a diverse audience drawn from government bodies, the Lao and Vietnamese embassies, development partners, and the private sector.

Speaking at the event, Vanndy highlighted the important role of MSMEs as the backbone of the national economies of Cambodia, Lao PDR, and Viet Nam, serving not only as drivers of employment and income generation but also of innovation and inclusive development.

“In the context of a rapidly changing global economy, digital technology and innovation have become catalysts for the competitiveness of micro, small and medium enterprises, as well as the resilience of national and regional economies,” Vanndy said.

Despite accounting for between 88.8% and 99.9% of enterprises across ASEAN, many MSMEs continue to face challenges, including low productivity, limited digital skills and access to digital technologies, and low adoption of emerging technologies.

Funded by the Government of the People’s Republic of China through the Lancang-Mekong Cooperation Special Fund, the 15-month project has a budget of approximately $170,000 and focuses on strengthening digital transformation among MSMEs across Cambodia, Lao PDR, and Viet Nam, particularly among green and women-led enterprises.

Ambassador Wang Wenbin noted that this year marks the 10th anniversary of the Lancang-Mekong Cooperation framework, which has become a model for regional development and cooperation.

“China stands ready to work with Mekong countries to strive for ‘LMC 2.0’ characterised by unity and cooperation, openness and win-win outcomes, green innovation, and peace and tranquillity, and jointly usher in a new golden decade of Lancang-Mekong Cooperation,” Ambassador Wang Wenbin said.

Cambodia has been a beneficiary of the cooperation, receiving 106 projects since 2017 under the Lancang-Mekong Leadership Cooperation Special Fund.