The Royal Government of Cambodia considers the digital economy as a new source of growth

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          The Minister of Commerce, Pan Sorasak, participated in the discussion on the topic of trade in digital service and stated that the Royal Government sees the digital economy as a new source of growth. Minister Sorasak made the remark at the 2022 Annual Meeting of the World Economic Forum in Davos-Klosters, Switzerland.

          The Minister of Commerce, Pan Sorasak, stated that the digital economy will be a new source of Cambodia’s economic growth. Meanwhile, he also committed that there are challenges including the legal framework, not only mechanisms for implementing and coordinating fintech which is computer programs and other technology used to support or enable banking and financial services but also the development of a roadmap for fintech policies.

          Minister Sorasak added that for the purpose of promoting innovation and open trade in services in the digital sector, the Royal Government of Cambodia will take the actions by the following;

  1. established the Digital Economy and Business Committee of Cambodia
  2. implemented the Digital Government Policy of Cambodia 2022-2035
  3. implemented the economic policy framework and Digital Society of Cambodia 2021-2035.

          Besides the aforementioned measures, the country also implemented measures to promote Covid-19 recovery plans for the economy as well as for living with the disease.

Published 22/06/2022

By Ashley Jones