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How Cambodia is Turning Its Youth into Entrepreneurs

How Cambodia is Turning Its Youth into Entrepreneurs

More and more Cambodian youth are turning to entrepreneurship, thanks to the development of technology and support from various social groups.

Entrepreneurship has the potential to help the development of this Southeast Asian country by creating more jobs, generating more national income through tax, improving living standards and bringing about positive social changes.

Kuy Vat, vice president of Young Entrepreneur Association of Cambodia (YEAC), tells DW that compared to the past, Cambodian youths now are much more aware of entrepreneurialism because information is more available.

He adds that the involvement from entrepreneur associations also contributes to the number of young entrepreneurs in Cambodia.

Image: DW
Image: DW

 

More attention is also being given to entrepreneurialism by the government and business associations.

Ros Soklim, spokesman for the Cambodian Ministry of Education, tells DW that entrepreneurship is a part of the education reform. "Our youth need to be equipped with both skills from school and skills in the real economic world."

Some of Cambodia's young entrepreneurs are already ready to start their enterprise from scratch and help change their society.

Hav Kongngy, founder of My Dream Home, could not himself afford a house after working hard for seven years. It struck him how others with much less income than his are struggling. He was inspired to run his enterprise, which provides low and middle income families with more affordable alternatives.

Kongngy Hav founder of My Dream House. Image: Impact Hub
Kongngy Hav founder of My Dream House. Image: Impact Hub

 

"We are an agent of change contributing to housing sectors by reducing the price of houses by 20-40 percent. The material used in construction is more environmentally friendly as well," Kongngy tells DW.

Hav has also been recognized as one of the top 10 Promising Social Entrepreneur of the World, by the Global Innovation Challenge, organised by the 8th Global Sankalp Summit in Mumbai, India.

Though there is a lot of potential and energy, new and prospective entrepreneurs still need to continue learning. He adds that the senior and experienced entrepreneurs are always ready to help orient younger generations and increase productivity together.

 

 


Source : DW  | Impact Hub Phnom Penh

Indah Gilang Pusparani

Indah is a researcher at Badan Perencanaan Pembangunan Penelitian dan Pengembangan Daerah Kota Cirebon (Regional Development Planning and Research Agency of Cirebon Municipality). She covers More international relations, tourism, and startups in Southeast Asia region and beyond. Indah graduated from MSc Development Administration and Planning from University College London, United Kingdom in 2015. She finished bachelor degree from International Relations from University of Indonesia in 2014, with two exchange programs in Political Science at National University of Singapore and New Media in Journalism at Ball State University, USA. She was awarded Diplomacy Award at Harvard World Model United Nations and named as Indonesian Gifted Researcher by Australian National University. She is Researcher at Regional Planning Board in Cirebon, West Java. She previously worked as Editor in Bening Communication, the Commonwealth Parliament Association UK, and diplomacy consulting firm Best Delegate LLC in USA. Less
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