Empowering Cambodia’s Entrepreneurs: Visa and Government Join Forces to Boost SMEs

A New Era for Small Businesses in the Kingdom

In a promising step toward digital economic growth, Cambodia’s Ministry of Industry, Science, Technology & Innovation (MISTI) is exploring a new partnership with Visa to empower small and medium-sized enterprises (SMEs) and uplift the informal economy. This collaboration marks a significant shift in how technology and data-driven tools could transform the livelihoods of thousands of Cambodians operating outside the formal financial system.

During a meeting held on May 23, Minister Hem Vanndy welcomed Lisa Sargent, Visa’s Country Manager for Cambodia, to discuss shared goals for economic inclusion, entrepreneurship, and innovation across the country.

Beyond Payments: Visa’s Expanding Role in Cambodia

Visa, traditionally known for its global payment network, is stepping deeper into Cambodia’s economic landscape with initiatives that support financial literacy, digital inclusion, and entrepreneurial growth. Sargent, who also holds a leadership role with Visa Southeast Asia, highlighted existing partnerships with Cambodia’s Ministry of Tourism and the National Bank of Cambodia on the Bakong digital currency project. She also pointed to Visa’s ongoing support for women entrepreneurs in collaboration with the Ministry of Women’s Affairs.

Her message was clear: Visa wants to play a long-term, meaningful role in Cambodia’s economic development, particularly for those in micro, small, and medium enterprises (MSMEs).

Digital Tools for a More Inclusive Economy

Minister Vanndy stressed the government’s dedication to nurturing the informal economy, which comprises a large portion of Cambodia’s workforce. He noted that financial inclusion is essential to helping these businesses grow and thrive, and that innovative digital tools can be a bridge toward more affordable financing and economic stability.

Key to the discussions was how Visa could support digital literacy, provide inclusive financial solutions, and contribute valuable insights through data-driven risk assessments—helping informal businesses build credibility and access credit responsibly.

A Roadmap to Financial Empowerment

One of the most impactful ideas from the meeting was the potential creation of a national initiative for credit rating and profiling of informal economy actors. By working closely with local banks, Visa could help develop transparent and fair systems that allow small businesses to secure funding without falling victim to predatory lending practices.

Vanndy encouraged Visa to take a leadership role in shaping this initiative, which aligns with Cambodia’s broader ambitions to formalise and uplift the informal sector.

Partnerships That Drive Progress

As Cambodia continues to prioritise innovation and inclusive growth, partnerships like this one could be pivotal in reshaping its economic future. With Visa’s technological expertise and Cambodia’s policy commitment to empowering SMEs, the path ahead looks promising for entrepreneurs in both urban and rural areas.

For more information on Visa’s work in Cambodia, visit: www.visa.com.kh
For updates from the Ministry of Industry, Science, Technology & Innovation, visit: www.misti.gov.kh

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