On July 8, the Cambodian Chamber of Commerce (CCC) advised local small and medium-sized enterprise (SME) owners to understand and follow legal export procedures to streamline the process and reduce compliance issues.
The recommendation was made during a consultation workshop on “Cambodia SME Exports”, organized by the CCC under the public-private partnership, the chamber’s managing director, Nguon Meng Tech, told The Post later today.
The meeting aimed to provide support to Cambodian SMEs and other stakeholders – who shared their experiences, opinions and concerns on the ground – and to provide them with advice on how to collect information and export in a way simpler and more efficient, he said, adding that tax procedures accounted for the bulk of the issues raised.
SME owners have also shared the time and money they now save after understanding the relevant legal procedures, Meng Tech said, adding that Cambodia’s tax and business laws provide many benefits for smooth business operations. and export, especially for SMEs, and are “not oppressive or complicated”.
Keo Mom, CEO of Ly Ly Food Industry Co Ltd, one of the largest food processing companies in the Kingdom, said most SME owners do not have a clear understanding of workflow management and legal procedures, which which leads to these export barriers and undue complications.
“But we believe that any job, whatever it is, will only be difficult at the beginning. Once an SME owner can maintain a flow and follow the rules properly, they will be able to ensure operations run smoothly,” she said.
Another lingering challenge for SMEs is the difficulty of booking a ship to ship their products overseas, amid soaring demand, though shipping rates are steadily falling, Mom said.
Federation of Associations for Small and Medium Enterprises of Cambodia (Fasmec) President Te Taingpor noted that while many problems facing SMEs can be easily solved, this is not the case for the outbreak. continued fuel prices and shortage of cargo containers.
“Next week, we will hold a meeting with stakeholders on the issue of rising oil prices, which will increase transport costs accordingly.
“Cambodia has free trade agreements [FTA] with China and South Korea and RCEP [Regional Comprehensive Economic Partnership] – we must first remove the obstacles to get enough out of these pacts,” he said.
SMEs overall export raw materials, dwarfing the amount of processed products, Taingpor said, noting that imports from neighboring countries exceed Cambodian exports, citing high production costs and lack of standards, as well as a shortage of ports and inadequate transport infrastructure.