Introduction to the MRA Grant
The Market Readiness Assistance (MRA) Grant is a strategic initiative from Enterprise Singapore, designed to support Singaporean SMEs in taking their first steps toward international expansion. By offering up to 50% funding support (capped at S$100,000 per fiscal year), the grant helps defray costs related to overseas market promotion, business development, and market setup.
Among the many emerging markets in Southeast Asia, Cambodia is steadily becoming a favourable destination for Singapore companies seeking early-mover advantage. Its youthful population, rapid urbanisation, and economic openness make it a fertile ground for business growth. With the right support structure—such as that provided by the MRA Grant—Singapore businesses can confidently explore opportunities in Cambodia while reducing their initial financial risks.
Why Companies Expand to Cambodia
Cambodia is a developing economy that has shown consistent growth over the past decade, driven by foreign direct investment, rising consumer demand, and a young, urbanising population. Phnom Penh, Siem Reap, and Sihanoukville are fast-evolving urban centres with growing appetite for modern retail, services, and infrastructure.
Singapore companies in retail, education, construction, healthcare, fintech, and hospitality are increasingly drawn to Cambodia’s open economy. The country’s liberal investment policies, favourable tax regimes for foreign investors, and improving connectivity with regional markets make it an attractive destination.
Furthermore, Cambodia’s low labour and rental costs enable Singapore SMEs to stretch their resources while building a physical presence. Early entrants can establish strong brand recognition and long-term market share as the country continues its path of modernisation.
Eligible Activities under the MRA Grant
The MRA Grant supports a wide array of internationalisation activities across three key categories:
- Overseas Market Promotion
- Exhibiting at Cambodia-based trade fairs and expos
- Running marketing and PR campaigns targeting Cambodian audiences
- Engaging in digital advertising through local online channels
- Overseas Business Development
- Hiring in-market business development representatives
- Engaging market research and business consultants in Cambodia
- Participating in B2B matchmaking and distributor sourcing programs
- Overseas Market Setup
- Registering a Cambodian legal entity or representative office
- Securing legal and tax advisory services
- Applying for relevant business licenses or intellectual property protection
These categories ensure companies can receive funding support throughout various stages of their market entry journey.
Expenses Supported for Cambodia Expansion
When expanding into Cambodia, companies can use the MRA Grant to support expenses such as:
- Cost of trade fair participation in Phnom Penh or Siem Reap
- Professional service fees for incorporation, legal advisory, and licensing
- Media buying on local advertising platforms like Facebook (widely used in Cambodia), local TV, or newspapers
- Consulting fees for market research and feasibility studies
- Website localisation and translation of brochures or digital ads into Khmer
- Business matchmaking services to connect with local distributors or agents
These cost categories are all claimable, provided they meet the eligibility criteria and are pre-approved by Enterprise Singapore.
Common Use Cases in Cambodia
Singapore SMEs across diverse industries have successfully used the MRA Grant to enter Cambodia. Typical scenarios include:
- A Singapore fashion retailer opening its first flagship store in Phnom Penh
- An IT solutions provider offering customised business systems to Cambodian SMEs
- An education centre franchising its curriculum and services to local operators
- A F&B brand forming joint ventures with local café or restaurant chains
- A construction technology firm marketing its green building solutions to developers in Cambodia
These use cases show how the MRA Grant can help companies from various sectors reduce market-entry costs and minimise risk.
Challenges Faced During Expansion and How MRA Helps
Cambodia, while full of potential, also poses some unique challenges that companies need to prepare for:
- Regulatory Ambiguity: Local regulations may be vague or inconsistently enforced, especially outside of Phnom Penh.
- Language and Communication Barriers: Khmer is the official language, and while English is increasingly used in business, translation support is often needed.
- Lack of Reliable Market Data: Market research and consumer behaviour studies may be limited, making local consultant support crucial.
- Infrastructural Limitations: Some areas may face infrastructure or logistical constraints that affect operations and supply chains.
The MRA Grant plays a critical role in helping SMEs tackle these challenges by subsidising the costs of engaging local experts, securing legal assistance, and conducting feasibility assessments before full-scale entry.
Eligibility Criteria
To apply for the MRA Grant, Singapore businesses must meet the following requirements:
- Be registered and operating in Singapore
- Have at least 30% local shareholding
- Have a group annual turnover of no more than S$100 million or group employment size not exceeding 200 employees
- Intend to internationalise and do not already have a significant presence in Cambodia
These criteria are designed to support true SMEs taking early steps toward market expansion, ensuring that resources go toward businesses that need it most.
Required Documentation
To support your application for MRA Grant funding for Cambodia expansion, the following documents will typically be required:
- ACRA BizFile business profile
- Latest financial statements (audited or management accounts)
- Detailed project plan and justification for Cambodia market entry
- Quotations from third-party service providers (consultants, marketing agencies, lawyers, etc.)
- Expected KPIs (e.g., sales targets, distributor partnerships)
- Background information on consultants or service providers
It’s essential that all documents are complete and accurate to avoid delays in application approval.
Application Process
The MRA Grant application process involves several key steps:
- Define Your Project
- Determine what business activities you will undertake in Cambodia
- Decide which category (or categories) of MRA support you’re applying for
- Gather Supporting Documents
- Collect quotations, prepare your expansion plan, and compile business financials
- Submit Application via Business Grants Portal
- Access the portal using your CorpPass and complete the required fields
- Attach supporting documents
- Wait for Evaluation
- Enterprise Singapore typically processes applications in 6–8 weeks
- They may contact you for clarifications or further information
- Receive Letter of Offer
- Only begin the proposed project after receiving official approval
- Retroactive claims are not allowed
- Carry Out Project Activities
- Implement your plans according to the approved scope and timeline
- Submit Claims
- After project completion, submit your invoices, receipts, and reports to receive reimbursement
- Complete Post-Project Report
- Provide Enterprise Singapore with an evaluation of the project’s success and future plans
The process is designed to ensure accountability while offering flexibility for SMEs to tailor projects to market conditions.
Conclusion
Cambodia represents one of Southeast Asia’s most promising frontier markets. For Singapore SMEs seeking long-term growth and regional expansion, the Cambodian market offers affordability, first-mover advantage, and access to an increasingly sophisticated consumer base.
However, entering Cambodia without local insights and sufficient planning can be risky. That’s where the MRA Grant becomes an indispensable asset. It allows companies to build a presence in Cambodia with the right legal, marketing, and advisory support while managing their financial exposure.
Whether your business plans involve launching products, opening a new office, conducting market research, or finding the right partners, the MRA Grant provides a solid foundation for your Cambodia strategy. With proper planning and the right execution, Cambodia can become a profitable and rewarding part of your international journey.