Logo of Phnom Penh Post newspaper Phnom Penh Post - Why businesses should be looking to the future

Why businesses should be looking to the future

Content image - Phnom Penh Post
People use Pi Pay app on their smartphone. Heng Chivoan

Why businesses should be looking to the future

Advanced technology and the digital transformation in Cambodia are set to usher in a bright future. And businesses in the Kingdom should react to this changing landscape to improve their competitiveness, experts said on Tuesday.

Speaking at the Digital Transformation Workshop, “Leveraging on Internet of Things, Artificial Intelligence, Big Data and Cloud Computing”, on Tuesday, Tram Iv Tek, the minister of posts and telecommunications, said the time had come to start planning for the future, and build skills and infrastructure in artificial intelligence and the Internet of Things (IoT) to take advantage of such new technologies.

“The last few decades have seen an explosion of the information and communications technology [ICT] sector, which has transformed many economies [across the globe].

“The drivers of economic growth have become more information-intensive and less dependent on natural resources, with ICT affecting virtually every aspect of economic activity,” he said.

Tuesday’s workshop was organised by the National Institute of Posts, Telecoms and ICT (Niptic) and Kepstar Data Centre Management Co Ltd (Kepstar).

It served to bring together and connect the government, corporate and banking sectors, startups, private companies and technology leaders to share ideas and discuss Cambodia’s digital transformation.

According to Ministry of Posts and Telecommunications data, about 30 percent of the Cambodian population was offline at the end of 2017.

The government has set a target of 100 percent broadband coverage in urban areas and 70 percent in rural areas by 2020. It also aims for an 80 percent internet penetration rate.

While affordable access to high-quality ICT has become a key priority for the ministry and many businesses, Iv Tek said the ministry’s strategies were aimed at expanding broadband coverage and infrastructure, creating a platform for the digital transformation, and building a dynamic digital ecosystem.

Thai Sokvutha, director of ICT solution firm, Te Aikhong Enterprise, said on Tuesday that technological transformations are noticeable in Cambodia, with consumers using e-payment services and other platforms launched by private companies and banking institutions.

While users and companies in Cambodia still have limited knowledge of new technology, Sokvutha said things have improved.

“The truth is that it is now compulsory for businesses to adopt new technologies or they will be left behind.

“Some users are now starting to become familiar with new technology and some providers have designed and developed apps and systems for their users,” he said.

MOST VIEWED

  • Would you like fries with that? US burger chain makes Phnom Penh debut

    California-based The Habit Burger Grill restaurant chain is all set to serve up a delicious array of charbroiled burgers and sides at its newest international location in the centre of Phnom Penh. The Habit is “renowned for its award-winning Charburgers grilled over an open flame,

  • Phnom Penh underpass opens to ease traffic

    Prime Minister Hun Sen has announced a temporary opening of the 488m underpass at the Chaom Chao roundabout in Phnom Penh’s Por Sen Chey district, which was recently completed to connect traffic from National Road 4 to Russian Federation Blvd. The move is to reduce

  • ‘No chance Cambodia booted out of ASEAN’

    A group of former and current Cambodian diplomats on Tuesday fired back at retired Singaporean diplomat Bihalari Kausikan after he proposed that ASEAN dismiss Cambodia and Laos from the bloc. In an open letter, the Cambodian diplomats said Kausikan’s remarks were made from a

  • Woman seeks answers after arrest of American partner

    Filipina Lalaine de Guzman, 48, is demanding answers for the detention of her American partner by Cambodian immigration officers after he was arrested at their home almost 90 days ago. She said without an arrest warrant or proffering any criminal charges, Stephen Sidney Greatsinger, 56, is being detained

  • Banteay Meanchey flood victims receive aid

    Prime Minister Hun Sen on Wednesday provided aid to more than 10,000 families affected by flooding in Banteay Meanchey province’s Mongkol Borei district and offered his condolences to the 18 victims who drowned in the province over the past week. He said flooding had occured in

  • PM urges caution as Polish man tests positive for Covid

    The Ministry of Health on Wednesday reported that a 47-year-old Polish man tested positive for Covid-19 after arriving in Cambodia on Monday. There are a total of six Covid-19 patients currently in the country, all of whom are being treated at the Khmer-Soviet Friendship Hospital