The IB ecosystem
Inclusive Business is relevant not only for companies actually sponsoring IB models, initiatives and activities, but also for broader IB stakeholders composed of government agencies, business associations, investors, accelerators and facilitators, development partners, as well as other experts. This “ecosystem” approach is reflected in the IB strategy of Cambodia (the IBeeC) and in commitments by various agencies to implement IBeeC.
Government agencies particularly relevant for IB and engaged in the dialogue are
- -The Ministry of Industry, Science, Technology and Innovation (MISTI) – for championing and coordinating the IB agenda for the country, as well as for including IB in the SME and industry plans;
- -The Ministry of Agriculture, Forestry and Fishery (MAFF) for promoting IB in agrobusiness; other sector ministries might also be relevant for including specific IB promotion in sector support programs;
- -The Board of Investment under the Cambodia Development Council (CDC-BoI), for granting IB incentives under the new company law;
- -The Ministry of Commerce (MoC), for encouraging IBs in the company’s registration process and for trade activities; and
- -The Ministry of Economy and Finance (MEF) and the Ministry of Planning (MoP), to highlight the potential of IB and its contribution to economic and social development objectives.
Business associations are interested in informing their members and the private sector about IB opportunities and encouraging IB investments. OF particular relevance are
- -The Cambodia Chamber of Commerce (CCC)
- -The Young Entrepreneurs Association of Cambodia (YEAC)
- -The federation of Small and Medium Enterprises Associations (FASMEC), and
- -The Cambodia Business Women Entrepreneurs Association (CWEA)
MISTI, MAFF, CCC, BoI, and MEF as well as CCC, YEAC, FASMEC and CWEA have officially nominated IB focal points.
IB investments are often coming from impact investors with seats in Cambodia or service the market from neighboring countries. IB relevant impact investors are – among others – Bamboo Finance, IIX, Insitor, NEXUS, responsAbility, Uberis Capital. While their investments are mostly small (($0.2-$3 million per deal), development banks like IFC and ADB have invested in (mostly larger sized) IB case, especially in agrobusiness and in microfinance.
There are a few IB accelerators in the country which provide business coaching and sometimes also start-up financing to (mostly smaller) IB companies or IB initiatives. Such IB facilitators include organizations focusing on agricultural value chain promotion such as the programs of Oxfam (under its rural income generation program), the Cambodian Partnership for Sustainable Agriculture (under the Grow Asia initiative), or USAID, as well as other programs supported by SwissContact (under its RISE program), the Phnom Penh Impact Hub, and SNV, among others.
Development partners from Australia (DFAT), the European Commission, France (through AfD), Germany (through GIZ and iBAN), Japan (through JICA), Korea (through KOICA), Switzerland (SwissContact), Sweden (financing the SNV work), UN-ESCAP, UNIDO, USA (through USAID), and One UN, as well as the Asian Development Bank (ADB) and the IFC under the World Bank are supporting the IB agenda. Others (like China and UNDP) may also wish to join.
Furthermore, there are various other experts, research institutes (like NUPPUN) and consulting firms (like SEVEA Consult or BD Trust) that are interested in the IB agenda.
The “contact” tap under this website has further information on IB champions including their contact details.