How Cambodia is Turning Its Youth into Entrepreneurs
More and more Cambodian youth are turning to entrepreneurship, thanks to the development of technology and support from various social groups.
Entrepreneurship has the potential to help the development of this Southeast Asian country by creating more jobs, generating more national income through tax, improving living standards and bringing about positive social changes.
Kuy Vat, vice president of Young Entrepreneur Association of Cambodia (YEAC), tells DW that compared to the past, Cambodian youths now are much more aware of entrepreneurialism because information is more available.
He adds that the involvement from entrepreneur associations also contributes to the number of young entrepreneurs in Cambodia.
More attention is also being given to entrepreneurialism by the government and business associations.
Ros Soklim, spokesman for the Cambodian Ministry of Education, tells DW that entrepreneurship is a part of the education reform. "Our youth need to be equipped with both skills from school and skills in the real economic world."
Some of Cambodia's young entrepreneurs are already ready to start their enterprise from scratch and help change their society.
Hav Kongngy, founder of My Dream Home, could not himself afford a house after working hard for seven years. It struck him how others with much less income than his are struggling. He was inspired to run his enterprise, which provides low and middle income families with more affordable alternatives.
"We are an agent of change contributing to housing sectors by reducing the price of houses by 20-40 percent. The material used in construction is more environmentally friendly as well," Kongngy tells DW.
Hav has also been recognized as one of the top 10 Promising Social Entrepreneur of the World, by the Global Innovation Challenge, organised by the 8th Global Sankalp Summit in Mumbai, India.
Though there is a lot of potential and energy, new and prospective entrepreneurs still need to continue learning. He adds that the senior and experienced entrepreneurs are always ready to help orient younger generations and increase productivity together.