Phnom Penh, Aug 1 (IANS): Cambodian Prime Minister Hun Manet said here on Thursday that women have played a pivotal role in socio-economic development and poverty reduction in the Association of Southeast Asian Nations (ASEAN).

Speaking at the opening ceremony of the Pinnacle Entrepreneur Forum & 2024 ASEAN Women Entrepreneurs' Network Award held in Phnom Penh, Hun Manet said women are at the heart of families, the soul of communities, and the conscience of the nations, Xinhua news agency reported.

"Our region has become the fifth-largest economy in the world because ASEAN women have played a pivotal role, not just as the very bedrock of her communities and national economies, contributing to job creation, reducing poverty, and promoting inclusive economy, but also in economic integration through regional and international platforms driving growth and foster innovation across borders," he said.

In ASEAN, about 9.8 per cent of the population, or over 60 million individuals, are female business owners, he said, adding that in Cambodia, female business owners account for around two-thirds of businesses.

"As women engage more actively in regional and international economic activities. They not only elevate their enterprises but also contribute to the overall economies, resilience and sustainability of their communities and nations," Hun Manet said.

The Cambodian leader said despite their resilience and determination, women entrepreneurs face numerous challenges including limited access to finance, markets, networks and opportunities for growth and development.

"The ASEAN governments, including Cambodia, recognise the challenges faced by women entrepreneurs and understand the vital role they play in achieving gender equality and economic growth," he said. "We are actively working towards overcoming these obstacles."

ASEAN groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.