Fintech development policy gives impetus to Cambodia’s digital economy and society development

PHNOM PENH: The Cambodia Financial Technology Development Policy 2023-2028 will give an impetus to the development of Cambodia's digital economy and society, said H.E. Dr. Aun Pornmoniroth, Deputy Prime Minister and Minister of Economy and Finance.

He made the remarks in a dissemination workshop on “Cambodia Financial Technology Development Policy 2023-2028” at Hyatt Regency Phnom Penh Hotel on Oct. 4.

“I firmly believe that the implementation of the policy with high efficiency will help Cambodia to benefit in advance from digitalization in the financial sector and to provide opportunities to all parties to contribute impetus to the development of Cambodia's digital economy and society,” H.E. Dr. Aun Pornmoniroth said.

The Digital Economy and Business Committee () organized the workshop with the aim of widely disseminating the policy in the spirit of promoting the implementation of the policy and continuing to promote the development of FinTech in Cambodia.

The workshop was attended by high-ranking officials who are representatives from relevant ministries, public institutions and regulators, embassies, banking and financial institutions, educational institutions, insurance companies, local and international private companies, and other relevant associations.

In the process of policy formulation, it pointed out, the DEBC has previously organized five workshops to gather valuable input to ensure the conciseness, flexibility, and inclusiveness of the Policy.

The five workshops include (1) The National Consultation Workshop on Policy and Direction of Cambodia's FinTech, (2) The Role of Insurance Sector and FinTech in Digital Economy in Cambodia, (3) The Role of Banking Sector and FinTech in Digital Economy in Cambodia, (4) The FinTech Stage of 2022, and (5) The Roles of Decentralised Finance and Data Protection Framework in FinTech Development in Cambodia.

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