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Central bank, telecoms ministry join hands to digitise economy

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A customer checks the mobile application on her phone. Hong Menea

Central bank, telecoms ministry join hands to digitise economy

The National Bank of Cambodia (NBC) and the Ministry of Posts and Telecommunication signed a memorandum of understanding (MoU) aimed at fostering the country's ambitious plan of transforming itself into a digital economy over the next few years.

The MoU was signed virtually on April 29 between NBC director-general Chea Serey and ministry secretary of state Sok Puthivuth.

"Another milestone in our journey toward digital economy: MoU signing between the Ministry of Telecommunication and the National Bank of Cambodia. This MoU paves way for closer collaboration, dialogue and knowledge sharing between the two authorities. Collaboration is key in any endeavors," Serey wrote on her official Facebook page.

“If you want to go fast, go alone. If you want to go far, go together,” she added.

The government is currently drafting a 2021-2035 policy framework for Cambodia’s evolving digital socio-economic environment that it said will optimally boost economic growth.

The framework focuses on five major priorities – developing digital infrastructure, fostering digital trust and confidence, creating digital citizens, building the digital government and promoting digital businesses.

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