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

  • Cambodia maintains 'Kun Khmer' stance despite Thailand’s boycott threat

    Cambodia has taken the position that it will use the term "Kun Khmer" to refer to the sport of kickboxing at the upcoming Southeast Asian (SEA) Games, and has removed the term Muay from all references to the sport. Despite strong reactions from the Thai

  • Chinese group tours return to Cambodia starting Feb 6

    Cambodia is among 20 countries selected by Beijing for a pilot programme allowing travel agencies to provide international group tours as well as flight and hotel packages to Chinese citizens, following a three-year ban. As the days tick down until the programme kicks off on February 6,

  • Capital-Poipet express rail project making headway

    The preliminary results of a feasibility study to upgrade the Phnom Penh-Poipet railway into Cambodia’s first express railway indicate that the project would cost more than $4 billion and would take around four years to complete. The study was carried out by China Road and

  • Thai boxers to join SEA Games’ Kun Khmer event

    The Cambodian SEA Games Organising Committee (CAMSOC) – together with the Kun Khmer International Federation (KKIF) and Khmer Boxing Federation – have achieved a “great success” by including Kun Khmer in the upcoming biennial multi-sports event on its home soil for the first time, said a senior

  • Bullets to bracelets: Siem Reap man makes waste from war wearable

    Jewellery is often made from valuable gemstones like emeralds or diamonds and precious metals like gold or silver, or valueless things like animal horns. But a man in Siem Reap has approached the manufacture of delicate pieces from a different angle. His unique form of

  • 61% of 2022 imports came from just 3 markets

    The three largest exporters to Cambodia – mainland China, Vietnam and Thailand – accounted for 60.94 per cent of the Kingdom’s total merchandise imports last year, at $18.245 billion, which was up 11.99 per cent over 2021, according to the General Department of Customs and Excise. Cambodia’s total imports