National Career and Productivity Fair 2024

The National Career and Productivity Fair 2024 advances ongoing collaboration between the Royal Government of Cambodia with the private sector, social partners and development partners, including the United Nations. Together, they aim to promote inclusive and decent work, bridge the gap between education and employment, and address the country’s skills mismatch.

At the event, the ILO is also co-organizing with the National Employment Agency an entrepreneurship panel discussion to facilitate knowledge sharing among developing countries on innovative approaches in entrepreneurship development.

Cambodia's young population and evolving economic landscape offer numerous opportunities for youth entrepreneurship, especially in sectors that are experiencing growth and transformation. Key areas for entrepreneurial potential include tourism, where eco-tourism and community-based tourism are being promoted, contributing 12.1% to GDP in 2019. The government’s 'BUILD Plus 3Ds' strategy also aims to accelerate tourism recovery. The food processing sector, dominated by MSMEs, offers a wealth of opportunities, as the government targets a 12% increase in processed agricultural goods exports by 2025. Similarly, the manufacturing sector, a significant source of employment for young women, particularly in the garment industry, holds potential for diversification and innovation. Meanwhile, the green economy and digital economy provide opportunities in renewable energy, sustainable agriculture, and tech startups, reflecting global trends in sustainability and digital transformation.

To thrive in these sectors, young entrepreneurs need a variety of skills such as technical skills, business management skills, soft skills, and entrepreneurial skills. However, several challenges need to be addressed for youth entrepreneurship to thrive. High levels of informal employment (88.3% of total employed persons), limited access to formal education and training, especially for vulnerable groups, and restricted access to entrepreneurial credit are key barriers. Additionally, the lack of professional experience and inadequate labour and social protections for young entrepreneurs further hinder progress.

To overcome these challenges, it is crucial to enhance vocational training programs, promote entrepreneurship education, develop mentorship programs, improve access to finance, and create business incubators and accelerators. Partnerships between educational institutions, the private sector, and policymakers can further support the transition from informal to formal entrepreneurship, fostering sustainable economic growth in Cambodia.

This session will explore how entrepreneurship can drive Cambodia’s economic transformation by examining opportunities in key sectors. It will also present case studies from countries in the region, showcasing policies, programs, and strategies that have been implemented to promote entrepreneurship. The session will highlight the skills and knowledge needed for success in these industries, address the challenges faced by young entrepreneurs, and discuss strategies for overcoming them.