Cambodia Unveils Guidelines for the Enterprise Innovation Index
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Synopsis
On March 3, Cambodia introduced the CEII guidelines to enhance national innovation capabilities in businesses, aiming to improve competitiveness and economic growth.
Key Takeaways
- CEII guidelines aim to enhance innovation in Cambodian enterprises.
- Green manufacturing is crucial for resource efficiency.
- Improved innovation can boost economic resilience.
- Investment attraction is linked to a better innovation index.
- Youth and digital growth support economic transformation.
Phnom Penh, March 3 (NationPress) On Monday, Cambodia rolled out the Cambodia Enterprise Innovation Index (CEII) guidelines, aiming to bolster the national innovation capabilities of its businesses and enhance their competitiveness.
During the event in Phnom Penh, Hem Vanndy, the Minister of Industry, Science, Technology and Innovation, emphasized that improving enterprises' innovation capabilities opens up a vital opportunity to elevate Cambodia’s standing by advancing its position in the Global Innovation Index.
"This progress will stimulate sustainable and inclusive socio-economic development and create a favorable atmosphere for our path toward innovation-driven development," he stated.
Innovation is central to green manufacturing, which enhances resource efficiency and minimizes the use of limited resources. Additionally, it is essential for developing human resources, boosting productivity, and generating income.
Crafted with the support of a European Union (EU)-funded initiative and executed by the United Nations Industrial Development Organization (UNIDO), the CEII guidelines present a thorough framework for evaluating innovation capabilities among enterprises of all sizes throughout the Southeast Asian nation.
EU Ambassador to Cambodia, Igor Driesmans, remarked that the CEII guidelines offer valuable insights to bolster resilience, aimed at improving governance, accelerating industrialization, and encouraging economic diversification, as reported by Xinhua news agency.
"Cambodia holds immense potential to evolve into an innovation-driven economy, supported by its youthful, dynamic populace, rapidly expanding digital connectivity, and growing access to technology, laying a solid foundation for economic transformation," he noted.
Sok Narin, the UNIDO Cambodia Representative, highlighted the guidelines' significant role in attracting investments and enhancing economic resilience.
"A higher innovation index can position a country as an appealing destination for both domestic and international investments," he stated.
"Emerging technologies and innovations can drive job creation and the development of new industries by boosting efficiency, productivity, and profitability across various sectors," Narin added.
