Sihanoukville Autonomous Port and FASMEC Sign MOU to Foster SME Development

Sihanoukville Autonomous Port and the Federation of Associations for Small and Medium Enterprises of Cambodia (FASMEC) signed a Memorandum of Understanding (MOU) on September 17, 2026, to cooperate in supporting the development of small and medium enterprises (SMEs). The signing ceremony was presided over by H.E. Mang Sineth, Governor of Preah Sihanouk Province, H.E. Lou Kim Chhun, Delegate of the Royal Government and Director General of Sihanoukville Autonomous Port, and Oknha Te Tang Po, President of FASMEC. The event took place at the meeting hall of Sihanoukville Autonomous Port in Sangkat No. 3, Sihanoukville City. Oknha Te Tang Po, President of FASMEC, stated that the MOU signing is a significant event and a cornerstone for strengthening the national economy and improving the livelihoods of the people. He emphasized that SMEs often face challenges with transportation costs, and the port, as the heart of transportation and a bridge for commerce, will facilitate solutions and reduce shipping costs for exporting Cambodian products, thereby enhancing local products and maritime exports. He added that the close cooperation between the two parties will serve as a new catalyst for more efficient development of the private sector. H.E. Lou Kim Chhun, Director General of Sihanoukville Autonomous Port, stated that the port belongs to all Cambodians. He highlighted that today's MOU signing connects international trade and facilitates the export of Cambodian products to the world. Due to the increasing transportation volume, the port is undergoing significant development: - From 2023 to 2027: Construction of a new container terminal (Phase 1), 350 meters long, with a water depth of 14.5 meters. Construction is underway and is expected to be completed by March 2027. - From 2026 to 2029: Construction of a new container terminal (Phase 2), 400 meters long, with a water depth of 16.5 meters. This project is scheduled to commence construction by the end of 2026. - From 2027 to 2030: Construction of a new container terminal (Phase 3), 430 meters long, with a water depth of 17.5 meters. This project is currently in the process of public bidding for construction companies and is planned to start construction in early 2027. H.E. Mang Sineth, Governor of Preah Sihanouk Province, welcomed the MOU signing, describing it as a testament to connecting "Cambodia's important international trade gateway" with "the driving force of the local economy (SMEs)" to boost the potential of Khmer products in the world market. The MOU aims to establish a framework for cooperation to increase SMEs' understanding of port procedures, facilitate trade, reduce logistics costs, enhance competitiveness, and strengthen the partnership between the port and the private sector to jointly support SME development in Cambodia. The Governor further stated that the Royal Government has implemented various policies and mechanisms to support micro, small, and medium enterprises, including the Informal Economy Development Strategy (2023-2028), SME Promotion Programs, and financial support through institutions like the SME Development Bank, Rural Development and Agricultural Bank, Credit Guarantee Corporation of Cambodia, and the Skills Development Fund. Efforts also include promoting digitalization and creating an SME ecosystem from production to market, supported by initiatives like "Entrepreneur Cambodia" and the "Khmer SME" website. To promote and support the development of Preah Sihanouk Province, Prime Minister Hun Manet has launched a "Special Program to Promote Investment in Preah Sihanouk Province 2024" and extended these special benefits until the end of 2027. As a result, the investment promotion working group has received 518 proposals for incentives, with 511 projects receiving "in-principle approval letters," representing a total investment of approximately $8 billion.