Ownership of businesses by many women source of pride

MINISTER of Women’s Affairs Ing Kantha Phavi has shared Cambodia’s pride in being one of the top countries in the world when it comes to women’s involvement in business ownership.

Up to 70 per cent of the Kingdom’s businesses are female-owned, according to figures from the 2022 Economic Census, released last December, she explained.

Addressing an International Women’s Day event in Phnom Penh’s Kamboul district on March 10, Kantha Phavi highlighted how women are actively involved in supporting the livelihoods of their families, while also contributing to the country’s economic growth.

“We are pleased to see so many women owners of businesses, companies and enterprises. They contribute significantly to their families’ economies. It is a source of pride that they are capable of doing so and maintaining their ability to contribute to socioeconomic development,” she said.

The minister added that along with such a significant economic contribution, maternal health has also improved, as indicated by reduced rates of maternal mortality, as well as a decrease in the deaths of children under 5.

“In 2022, maternal mortality dropped to 154 out of 100,000 live births, while still births fell to 12 out of every 1,000 new born babies. For children under 5, the death rate fell to 16 of each 1,000 children. Through social protection, Cambodian women are also receiving more and more benefits, especially mothers-to-be and new mothers,” she continued.

Keo Mom, president of the Cambodia Women Entrepreneurs Association (CWEA), said many women

have demonstrated the courage to take the bold step of going into business for themselves, which is reflected by the increasing number of association members.

She supported the celebration of International Women’s Day, and was pleased it had showcased the ability of Cambodian women to form their own businesses.

“I am so happy to see Cambodia women show their strength from year to year, especially through the opening of their own businesses. Our Cambodia Women Entrepreneurs Day, held in 2023, was a testament to how women entrepreneurs are honoured and respected, and becoming valued as indispensable partners in the business world,” she said.

Mom, however, raised several challenges which she believes women still face.

“As we all know, among small and medium enterprises (SMEs), more than 65 per cent are owned by women and up to 90 per cent of them are managed by women. But we face many challenges and would like more attention from the government, development partners, civil society organisations the private sector and potential investors, in order to support more businesswomen,” she said.

Through phase I of its Pentagonal Strategy, Prime Minister Hun Manet’s government has highlighted the importance of gender equality and the promotion of women’s participation in all socio-economic sectors. One part of its strategy focuses on strengthening citizenship and creating a civilised, moral, inclusive society, with women at its core.