The Ministry of Commerce officially approved a strategy to implement the country’s E-Commerce Law, paving the way for the promotion of a digital business model in line with the government’s goal of leapfrogging into the fourth industrial revolution, or digital economy.
Minister of Commerce Pan Sorasak, who chaired the inter-ministerial meeting on July 23, said the plan is key to boosting competitiveness and streamlining business processes and will lead to improved productivity, increased exports, job creation and economic growth.
“Digital technology development is a response to Cambodia’s industrial development policy for economic diversification by enhancing the capacity of local SMEs to connect to regional and global value chains,” Sorasak said.
The government passed the e-commerce law in November as a response to the rapid development of e-commerce and online shopping.
The e-commerce strategy takes into account recommendations set out in other trade-related documents, including the Cambodia Trade Integration Strategy 2019-2023.
“The effective implementation of the e-commerce strategy will further strengthen the development of the e-commerce sector and provides a new, efficient and competitive business model for using technology to adapt to the digital economy and market demands.