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

  • Draft law on state of emergency pending finalisation

    Prime Minister Hun Sen will lead a top-level meeting on Tuesdays to review the draft law on imposing a state of emergency. Meantime, he has decided to close all casinos in Cambodia effective April 1. In the press conference after the National Assembly met today, Hun

  • State of emergency on table amid pandemic

    Prime Minister Hun Sen, his deputy prime ministers and legal team will meet on Tuesday to review the draft law on declaring a state of emergency, as Covid-19 cases rose to 107 in the Kingdom on Monday. Speaking at a press conference after a parliament meeting

  • Stranded passengers petition UK for help

    Some 10,521 people have signed an online petition calling on British Prime Minister Boris Johnson and relevant officials to fly nearly 200 passengers out of Cambodia. The petition is targeted at 15,000 people. Most of the passengers are British nationals, who are stranded in Cambodia after airlines cancelled

  • Covid-19 Pandemic: Force majeure and legal consequences

    Is the Covid-19 pandemic considered an event of force majeure? The World Health Organisation declared the novel coronavirus (Covid-19) outbreak a pandemic on March 11. Following this declaration, the Ministry of Health and other ministries have taken various legal and administrative measures to prevent the rapid

  • Many in limbo as tension heightens

    As the Kingdom restricts travel and prepares for a state of emergency, some foreigners in Cambodia are scrambling for a way home. Foreign embassies in Phnom Penh are making efforts to get their citizens out, but cancelled flights have become common due to the coronavirus

  • PM set to mend ties with US

    Prime Minister Hun Sen has responded to US Congressman Ted Yoho, saying he is ready to improve Cambodia-US relations, and not take up issues of disagreements which have become a barrier between the two countries’ bilateral cooperation. His response to Yoho came after the congressman