Ministry of Industry, Science, Technology, and Innovation (MISTI) registered 1,406 new small and medium enterprises (SMEs) last year, generating 20,653 jobs for local people. The new SMEs brought the total registered SMEs up to 44,628 as of 2023, a year-on-year increase of 1.43, an official report showed. The registered SMEs created a total of 463,966 jobs for Cambodian people, up 2.86 percent from 2022, according to the ministry's annual report. Food and beverage processing SMEs accounted for 64.9 percent or 28,966 of the total registered SMEs, followed by steel processing and weaving and garment with 5,493, (12 percent) and 3,527 (7.9 percent), respectively. To financially support SMEs, the Royal Government has established the SME Bank as a commercial bank with the strategic intent and direction being primarily coherent with the policies set by the government, assuring a reliable and sustainable banking system for all SMEs. The SME Bank of Cambodia Plc. has so far disbursed more than US$200 million in loans to at least 2,500 SMEs to help them expand their businesses. The government considers the SME sector as the backbone of the economy and created stimulus programmes to help the sector, said Samdech Moha Borvor Thipadei Hun Manet, Prime Minister of Cambodia. 'The foundation of our economy, our economic structure depends on the private sector as the core force. In particular, SMEs are the foundation of our economy,' Samdech Thipadei Hun Manet said at the closing ceremony of MISTI's annual meeting held here on Wednesday. Source: Agence Kampuchea Presse Bac Lieu: With the aim of becoming a "national shrimp industry hub" and focusing on creating the "Bac Lieu clean shrimp" brand to develop a shrimp value chain, the Mekong Delta province of Bac Lieu has set developing hi-tech shrimp farming models as a primary direction. The information was released by Luu Hoang Ly, Director of the provincial Department of Agriculture and Rural Development, at a working session with a delegation from the Ministry of Agriculture and Rural Development led by Deputy Minister Phung Duc Tien on February 22. Ly informed his guests that Bac Lieu's aquatic cultivation sprawled across more than 136,000ha, with shrimp farming dominating nearly 133,000ha. Notably, the export volume of aquatic products reached nearly 96,900 tonnes, exceeding the plan by 2% and marking a 17% annual uptick. The export revenue surpassed 1 billion USD, registering a commendable 17% increase. Bac Lieu has three major exports, including shrimp, rice and salt. Among them, shrimp is the biggest foreign currenc y earner, constituting over 95% of the province's export turnover. The locality aims to earn 1.3 billion USD from shrimp export by 2025 and 1.7 billion USD by 2030. Responding to concerns over IUU fishing, local authorities reported that there have been no signs of preparations to send ships or fishermen for illegal fishing activities in foreign waters detected in the province. In his closing remarks, Deputy Minister Tien lauded Bac Lieu for achieving and surpassing 18 out of 21 socio-economic development targets for 2023. With a growth rate of 7.24%, it ranked fifth in the Mekong Delta and 24th nationwide. He suggested the province consider improving shrimp fry production a top priority. Accordingly, there should be a concerted effort to enhance sci-tech application in aquaculture to increase productivity and quality, aiming to build brand for each product./. Source:Vietnam News Agency