Logo of Phnom Penh Post newspaper Phnom Penh Post - Kingdom embracing digital revolution, minister says

Kingdom embracing digital revolution, minister says

Content image - Phnom Penh Post
Public works minister Sun Chanthol attends a virtual World Economics Forum event on Tuesday. PUBLIC WORKS MINISTRY

Kingdom embracing digital revolution, minister says

Cambodia recognises that digital systems have played an important role in reducing the impact of Covid-19, as an effective solution to support public and commercial activities.

Minister of Public Works and Transport Sun Chanthol made the remark at a World Economic Forum event held via video conference on June 29 under the theme “Recovery of Business Activity: Revitalising the Regional Economy with a Sustainable Supply Chain”.

Addressing world leaders at the event, Chanthol highlighted the Kingdom’s “readiness” to embrace the regional digital economy.

“Cambodia has set its priority on promoting digital systems to ensure the smooth flow of goods, services, skills, capital and data.

The Kingdom needs to focus on legal and institutional cooperation to more effectively adapt to the digital revolution in trade, investment, trade facilitation, small and medium enterprises and skills development,” he said.

Chum Monika, managing director of digital payment tech giant Visa Inc in Cambodia, told a news conference early in June that since the outbreak of Covid-19, digital payments in ASEAN countries have been on the rise.

She noted that a recent survey of Visa card users’ payment habits found that 44 per cent of respondents carry less cash in their wallets than before the pandemic.

“Security and the financial environment are the main reasons for the use of digital payments,” Monika added.

The survey covered more than 7,500 people in ASEAN countries, including the Kingdom.

Chanthol affirmed that to achieve its vision towards a digital economy, Cambodia is committed to implementing the Automated System for Customs Data (Asycuda), linking to the Port Electronic Data Interchange (EDI) Autonomous System, to facilitate efficient transportation and trade.

At the same time, he said, the Kingdom also adopted the Law on E-Commerce and officially launched the ASEAN Single Window online business registration system domestically.

But perhaps more importantly, the Kingdom recently rolled out the Cambodia Digital Economy and Social Policy Framework 2021-2035, he noted.

The evolving digital landscape will better enable ASEAN countries to join forces and transform the regional bloc into a single digitally-connected community, which they can leverage to accelerate the recovery of socio-economic development, he stressed.

According to the National Bank of Cambodia (NBC), more than 59 per cent of Cambodians currently conduct payment transactions online, which the central bank says reflects its stalwart backing of digital payment services in line with its pursuit of a more supportive financial environment in the Kingdom.

MOST VIEWED

  • Angkor lifetime pass, special Siem Reap travel offers planned

    The Ministry of Tourism plans to introduce a convenient, single lifetime pass for foreign travellers to visit Angkor Archaeological Park and potentially other areas. The move is designed to stimulate tourism to the culturally rich province of Siem Reap as the start of the “Visit

  • Bosba: The first Khmer woman composer from UK’s Cambridge

    Bosba Panh is just 25 years old, but she’s already accomplished some impressive milestones for herself and the Kingdom. On July 24, she graduated with a Master’s degree from the University of Cambridge as the first Khmer woman composer and Khmer music graduate ever at

  • Pailin longan winery tries to break through to the big time

    Longan aren’t quite as glamorous as some fruits. They don’t have the star-power of mangos or generate the excitement of a pricey seasonal niche fruit like the pungent durian. Unlike bananas or oranges, which are known and loved everywhere, longan remains a decidedly

  • Debt restructuring over, time to tackle rising NPL ratio

    The Cambodian banking system has just completed a 26-month debt restructuring exercise where scores of loan accounts were revised, classified and provisioned as the rate of non-performing loans inched up, sparking a slight credit risk unease Implemented in April 2020, the Covid-19 debt restructuring measures came

  • Recap of this year’s ASEAN FM meet and look ahead

    This year’s edition of the ASEAN Foreign Ministers’ Meeting (AMM) hosted by Cambodia comes against the backdrop of heightened global tensions and increasing rivalry between major powers that have been compared to the animosity of the Cold War era. The following is The Post’

  • ‘Golden’ Angkor Wat likely due to natural phenomenon: ANA

    Pictures and video clips of the Angkor Wat temple, its spires seemingly coated in gold, have been shared tens of thousands of times on social media, prompting a sense of wonder among those who have seen them. Hong Sam Ath, who took the pictures and