The Ministry of Industry, Science, Technology and Innovation (MISTI) organised here on Sept. 25 a consultation workshop on “Business Skills Requirements in the Age of Industry 4.0.”
The event, under the Mekong-Lancang Cooperation framework, aimed to gather insights from the private sector to devise action plans to enhance the capabilities of Micro, Small, and Medium Enterprises (MSMEs) in adapting to Industry 4.0, said MISTI.
Highlighting the need to strengthen entrepreneurial mindsets and skills among Cambodia’s MSMEs, H.E. Nhim Khemara, MISTI’s Permanent Secretary of State, said, ‘The goal is to promote the development and modernisation of MSMEs to become a driving force contributing to the growth of both family and national economies.’
According to the ministry, as of August 2024, MISTI has registered 44,496 SMEs and handicraft businesses, employing nearly half a million people in Cambodia. Globally, MSMEs constitute approximately 90 percent of all business entities, contributing around 70 percent of
employment and 50 percent of global GDP.
Industry 4.0 refers to the fourth industrial revolution characterised by the integration of advanced technologies such as automation, artificial intelligence, and Internet of Things (IoT) to drive MSME development by enhancing operational efficiency, innovation, and competitiveness in a rapidly evolving market.
Source: Agence Kampuchea Presse