The initiative was formally kicked off with a two-day workshop on September 26-27, 2025, bringing together key government officials and development partners to solidify the roadmap for the sweeping digital transformation effort.

The program, set to run until 2028, will implement a phased approach, focusing on one priority industry sector each year. The initial target sector for digitization is tourism, according to an ADB press release.

This initiative aligns with the Cambodian government’s ambitious broader strategy, the Cambodia Digital Economy and Society Policy Framework 2021-2035, which seeks to build a vibrant digital economy and society across the nation.

Jyotsana Varma, ADB Country Director for Cambodia, emphasized the strategic importance of the initiative for the nation’s smaller businesses.

“The Digital Transformation Initiative will support MSMEs to integrate digital solutions into their daily operations, making them more competitive, resilient, and future-ready,” Varma said. “In close collaboration with the Techo New Business Incubator and industry associations, we aim to ensure that Cambodian enterprises can thrive in the digital economy.”

Echoing this sentiment, Dr. Taing Nguonly, Executive Director of the Techo Startup Center, highlighted the practical benefits for local businesses and the economy at large.

“This initiative will provide Cambodian micro, small and medium enterprises with practical tools in the digital economy,” Dr. Nguonly stated. “By focusing on key sectors, we can direct resources to those parts of the economy where digital solutions will have a significant impact on competitiveness, job creation, and women’s entrepreneurship.”

The collaborative effort is poised to play a crucial role in modernizing Cambodia’s entrepreneurial backbone, preparing its MSMEs to effectively compete in an increasingly digital world.

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H.E. Minister made the remarks while presiding over the closing ceremony of Cambodian Women Entrepreneurs Day 2024, organised here on Nov. 11 by the Cambodian Women Entrepreneurs Association (CWEA) under the theme “Women Empowerment in Green Economy”.

He noted women’s growing contribution to Cambodia’s business landscape, particularly in small and medium enterprises (SMEs). “Promoting women’s entrepreneurship requires combined efforts of all stakeholders to integrate their businesses into regional and global value chains, harness local resources, and adopt new technologies,” Minister Vanndy said.

Women entrepreneurs lead 69.2 percent of Cambodia’s economic units, according to the Ministry of Planning’s 2022 census. With Cambodia’s economy expected to grow around 6 percent in 2024—driven by sectors like garment exports, non-garment manufacturing, agriculture, tourism, and trade—H.E. Hem Vanndy stressed that women-led businesses are crucial to sustaining this momentum.

The Royal Government of Cambodia is actively implementing strategies and policies designed to support women entrepreneurs, with initiatives focused on enhancing productivity, expanding market access, and providing critical financial resources to help businesses to thrive, said the Ministry of Industry, Science, Technology & Innovation, adding that platforms such as ASEANAccess and KhmerSME offer essential business information in the region to small and medium enterprises (SMEs), equipping them with the tools and resources necessary for sustainable growth and success.

Addressing attendees at the event, the industry minister encouraged SMEs to formalize their businesses, emphasising that doing so would enhance their ability to access support, contribute to the government’s targeted policymaking, and strengthen their long-term business resilience and growth.

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This​ new​ infusion​ brings​ the​ Bank’s​ total​ shareholder’s​ equity​ to​ US$2.2​ billion,​ solidifying​ its​ position​ as​ the​ leading​ player​ in​ the​ Cambodia’s​ dynamic​ banking​ sector.

The​ shareholders’​ decision​ to​ inject​ this​ capital​ is​ a​ powerful​ endorsement​ to​ ABA​ Bank’s​ growth​ trajectory​ and​ unwavering​ commitment​ to​ Cambodia’s​ economic​ development.​

Notably,​ the​ shareholders​ have​ never​ repatriated​ any​ profit​ generated​ by​ ABA.​ Instead,​ they​ have​ continuously​ invested​ it​ back​ to​ the​ ABA​ ecosystem,​ focusing​ on​ technological​ advancements​ and​ continuous​ development​ of​ human​ capital.

Boost​ to​ Financial​ Stability​ and​ Technology

This​ latest​ capital​ injection​ not​ only​ enhances​ ABA​ Bank’s​ financial​ stability​ but​ also​ supports​ its​ vision​ for​ sustained​ growth​ and​ innovation.​ With​ the​ increased​ capital​ base,​ the​ Bank​ is​ better​ positioned​ to​ navigate​ economic​ uncertainties,​ ensuring​ greater​ stability​ and​ resilience​ in​ Cambodia’s​ financial​ landscape.

The​ new​ funding​ will​ accelerate​ ABA’s​ investments​ in​ cutting-edge​ technologies,​ enhancing​ its​ digital​ banking​ services​ and​ supporting​ the​ growth​ of​ SMEs.​ By​ focusing​ on​ these​ areas,​ ABA​ aims​ to​ empower​ local​ businesses​ and​ drive​ economic​ activity​ across​ multiple​ sectors,​ all​ while​ providing​ customers​ with​ more​ accessible,​ efficient,​ and​ secure​ banking​ solutions.​

Askhat​ Azhikhanov,​ CEO​ of​ ABA​ Bank,​ remarked,​ “This​ capital​ infusion​ is​ a​ clear​ example​ of​ the​ foreign​ direct​ investment​ in​ the​ economy​ thanks​ to​ continuous​ trust​ of​ our​ shareholders​ in​ Cambodia​ and​ in​ ABA.​ The​ additional​ capital​ enables​ us​ to​ continue​ providing​ loans​ to​ SMEs,​ keep​ investing​ in​ cutting-edge​ technologies,​ and​ deliver​ exceptional​ financial​ services​ while​ contributing​ to​ Cambodia’s​ economic​ progress.”

Continuous​ Contribution​ to​ National​ Economy

ABA​ Bank​ has​ also​ distinguished​ itself​ as​ a​ model​ corporate​ citizen​ in​ Cambodia,​ receiving​ the​ prestigious​ “GOLD”​ Certificate​ of​ Tax​ Compliance​ from​ the​ General​ Department​ of​ Taxation​ (GDT)​ for​ six​ consecutive​ years​ since​ 2019.​

This​ recognition​ underscores​ ABA’s​ consistent​ commitment​ to​ transparency​ and​ good​ corporate​ tax​ governance.​ The​ Bank​ has​ fully​ complied​ with​ Cambodia’s​ tax​ regulations,​ paying​ taxes​ in​ full​ and​ with​ 100%​ transparency.​ In​ recognition​ of​ these​ efforts,​ the​ bank​ was​ also​ honored​ with​ a​ Letter​ of​ Appreciation​ from​ the-then​ Prime​ Minister​ Hun​ Sen​ in​ May​ 2022.​

In​ 2023​ alone,​ ABA​ Bank’s​ income​ tax​ and​ other​ tax​ expenses​ amounted​ to​ $85​ million.​ In​ the​ first​ 8​ months​ of​ 2024,​ tax​ contributions​ already​ reached​ $80​ million.​

Cumulatively​ from​ 2009​ to​ 2024,​ ABA​ has​ contributed​ approximately​ $446​ million​ in​ taxes​ to​ the​ state​ budget,​ significantly​ supporting​ government​ initiatives​ in​ building​ infrastructure​ for​ the​ benefit​ of​ the​ people.

Investment​ in​ Human​ Capital

ABA​ Bank’s​ impressive​ growth​ is​ not​ just​ a​ result​ of​ financial​ strength​ and​ technological​ innovation,​ but​ also​ its​ unwavering​ commitment​ to​ developing​ human​ capital.​ Having​ created​ more​ than​ 9,300​ jobs,​ the​ Bank​ places​ great​ emphasis​ on​ nurturing​ talent​ and​ fostering​ a​ high-performance​ culture.​

ABA’s​ continuous​ investment​ in​ training​ and​ professional​ development​ ensures​ that​ its​ staff​ are​ well-equipped​ to​ meet​ the​ evolving​ needs​ of​ customers​ and​ the​ challenges​ of​ a​ fast-changing​ financial​ landscape.

Through​ leadership​ programs,​ skill-enhancement​ workshops,​ and​ career​ progression​ opportunities,​ the​ Bank​ supports​ the​ personal​ and​ professional​ growth​ of​ its​ employees,​ empowering​ them​ to​ drive​ innovation​ and​ deliver​ top-tier​ service.

The​ strong​ workforce,​ combined​ with​ advanced​ technologies,​ allows​ ABA​ to​ maintain​ its​ market​ leadership​ and​ continue​ setting​ new​ benchmarks​ in​ Cambodia’s​ banking​ industry.

Appreciation​ for​ Customer​ Trust

The​ Bank’s​ remarkable​ growth​ in​ its​ customer​ base​ reflects​ its​ commitment​ to​ excellence.​ Today,​ ABA​ Bank​ serves​ over​ 4​ million​ customers,​ 3.8​ million​ of​ whom​ are​ the​ ABA​ Mobile​ app​ users.​

This​ rapid​ expansion​ underscores​ the​ trust​ and​ confidence​ that​ Cambodian​ customers​ place​ in​ the​ bank.​ ABA​ extends​ its​ deepest​ appreciation​ to​ its​ customers​ for​ their​ loyalty​ and​ commitment,​ which​ has​ been​ pivotal​ in​ cementing​ its​ position​ as​ the​ leading​ digital​ bank​ in​ the​ country.

Expanding​ Market​ Footprint

With​ the​ additional​ capital,​ ABA​ Bank​ is​ ready​ to​ further​ consolidate​ its​ leadership​ in​ Cambodia’s​ competitive​ banking​ sector.​ The​ Bank​ continues​ to​ differentiate​ itself​ with​ competitive​ innovative​ financial​ products​ and​ a​ deep​ commitment​ to​ digital​ innovation.​

As​ ABA​ Bank​ continues​ to​ expand​ its​ footprint​ and​ capabilities,​ it​ remains​ dedicated​ to​ its​ mission​ of​ enhancing​ the​ financial​ well-being​ of​ its​ customers​ and​ contributing​ to​ the​ nation’s​ overall​ prosperity.

ABA​ Bank’s​ growth​ aligns​ with​ the​ Cambodian​ Government’s​ Pentagonal​ Strategy,​ supporting​ the​ country’s​ aspirations​ for​ sustainable​ and​ inclusive​ development.​ The​ Bank​ looks​ forward​ to​ serving​ even​ more​ Cambodians,​ reinforcing​ its​ role​ as​ the​ most​ trusted​ and​ secure​ banking​ institution​ in​ the​ Kingdom.

All​ in​ all,​ as​ ABA​ Bank​ continues​ to​ innovate​ and​ grow,​ it​ remains​ dedicated​ to​ supporting​ Cambodia’s​ economic​ development,​ ensuring​ that​ it​ remains​ at​ the​ forefront​ of​ the​ country’s​ financial​ services​ sector,​ delivering​ value​ to​ its​ shareholders,​ customers,​ and​ the​ community.

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The company’s interest in expanding its role in Cambodia’s industrial digitalisation was discussed in a meeting on Aug. 30 between H.E. Hem Vanndy, Minister of MISTI and Mr. Zhang Zhenjun, Vice President of Huawei Asia Pacific.

Huawei expressed its keen interest in collaborating on industrial digitalization initiatives. The company highlighted its commitment to fostering innovation, promoting digital literacy, and empowering local businesses. Huawei has been instrumental in nurturing local talent through various training programs. Over 3,000 Cambodian students and professionals have benefited from these initiatives, acquiring essential skills in app development and digital technologies.

The company aims to support small and medium-sized enterprises (SMEs) by providing accessible and affordable public cloud solutions. Huawei is keen to partner with MISTI to drive digital transformation across various industries, leveraging its expertise in technologies such as wireless networks, solar energy, and smart devices.

Reinforcing its commitment to Cambodia, Huawei’s Vice President, Mr. Zhang Zhenjun, emphasized the company’s long-standing presence in the country and its unwavering support for its development. He highlighted Huawei’s global research and development efforts, which contribute to cutting-edge technological advancements.

MISTI Minister H.E. Hem Vanndy welcomed Huawei’s renewed commitment and encouraged the company to further expand its involvement in Cambodia’s digital ecosystem. He emphasized the importance of affordable and accessible digital services for SMEs to enhance their competitiveness and contribute to the country’s economic growth.

As Huawei continues to invest in Cambodia’s digital future, its partnership with MISTI and its focus on human capital development are poised to play a crucial role in driving the country’s technological progress and economic prosperity.

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Chaired by H.E. HEM Vanndy, Minister of MISTI, the event was attended by some 260 participants, including officials from relevant ministries-institutions, Oknha Te Tang Por, Vice President of the Cambodian Chamber of Commerce and Co-Chair of the Government-Private Sector Working Group on Manufacturing and Services (WG-C), business associations, private sector stakeholders, development partners, and UN agencies.

H.E. Minister re-iterated the government’s commitment to fostering a supportive environment for micro, small and medium enterprises (MSMEs), which play a vital role in driving economic growth and job creation in Cambodia. “The private sector is the backbone of our economy, and it is imperative that we work collaboratively to identify and resolve the challenges that hinder its growth,” he stated.

During the meeting, Oknha Te Tang Por provided an update on the progress of government’s solutions to private sector challenges since the 19th Government-Private Sector Forum last year. He noted that many challenges had been addressed, but there remain issues that require solutions and interventions from the government. Currently, there are 22 challenges, indicating that significant work still lies ahead, particularly given the difficulties faced by SMEs.

The meeting discussed 22 challenges, including compliance requirements such as product registration and taxation, heightened competition, access to financing, markets, and skilled workforce, and rising production costs, particularly due to high transportation and energy prices.

H.E. Vanndy emphasised the need for local businesses to prepare for Cambodia’s graduation from its Least Developed Country (LDC) status, urging them to strengthen their operations and competitiveness. “As we move forward, competition is unlikely to diminish. MSMEs must discover their distinctiveness in terms of quality, taste, local content, traceability and environmental safeguards,” he said.

According to a news release, MISTI has continued to move its public services online, eliminating cash transactions in most cases, and has transformed the Science, Technology & Innovation National Laboratory (STINL) into a public administration institution in order to improve service quality and expand its testing capability to better support the private sector.

MISTI will continue to engage with private sector stakeholders to ensure that their voices are heard and considered in government interventions and policy-making, said the source, pointing out that the outcomes of this meeting will be included in the agenda of the upcoming Government-Private Sector Forum.

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The grand event was attended by esteemed guests including His Excellency CHERDKIAT Atthakor, Ambassador of Thailand to Cambodia, His Excellency Oknha NGUON Meng Tech, Director General of the Cambodian Chamber of Commerce, and representatives from the private sector. A significant number of Thai business leaders were also present to mark the occasion.

In his opening remarks, Secretary of State SAMHENG Bora expressed sincere gratitude to the Thai Embassy in Cambodia for organizing the exhibition and attracting the participation of major Thai companies such as Makro, 7-Eleven, Big C, PTT, SCG, CP Cambodia, Betagro, Global House, and TOA.

Encouraging further business expansion in Cambodia, the Secretary of State highlighted the country’s favorable investment climate and urged Thai companies to capitalize on opportunities to increase their market presence. He also emphasized the importance of promoting Cambodian products for export to Thailand.

The BCG Thai Festive Fair 2024, which runs from August 15 to 18, features over 200 companies from both Thailand and Cambodia, occupying a total of 250 booths.

The event showcases a wide range of Thai products including OTOP items, cosmetics, health products, home appliances, rice, souvenirs, and home decor. A particular focus is on environmentally friendly products and technologies aligned with Thailand’s Bio-Circular Green Economy (BCG) model.

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Manufacturing sector has experienced significant improvements, yet it remains heavily dependent on imported raw materials, highlighting the need for enhanced competitiveness, said MISTI in a news release, stressing that to tackle these challenges, MISTI is leveraging CAPRED’s expertise and its own insights to identify effective tools, policies, and programs essential for diversifying the manufacturing sector, bolstering local supply chains, and integrating small and medium-sized enterprises (SMEs) into the value chain.

“Cambodia’s manufacturing sector holds immense potential for fueling economic growth and job creation,” stated H.E. Hem Vanndy, Minister of Industry, Science, Technology & Innovation. “This workshop aims to transform knowledge and insights into actionable strategies that will elevate our manufacturing sector to the next level of development.”

Australian Chargé d’Affaires Mr. Andreas Zurbrugg said, “Australia is committed to supporting Cambodia’s economic growth and diversification. By strengthening the manufacturing sector, we are creating opportunities for businesses to thrive and for Cambodians to prosper.”

According to the news release, MISTI plays a central role in advancing Cambodia’s industrial development and diversification in line with the government’s Pentagonal Strategy.

The ministry aims to enhance the manufacturing sector competitiveness by fostering entrepreneurial ecosystem, developing national quality infrastructure to support local industries’ integration into global value chains as well as promoting initiatives such as SME clusters. Through these efforts, it seeks to reduce reliance on imports, stimulate job creation, and ultimately build a more sustainable, resilient and inclusive economy.

Australia’s CAPRED programme bolsters these initiatives by providing policy support and assistance in key areas, including micro, small, and medium-sized enterprise (MSME) development, the establishment of national quality infrastructure, and the promotion of gender equality.

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The meeting took place here on Aug. 7, under the chairmanship of H.E. Hem Vanndy, Minister of Industry, Science, Technology & Innovation, and Chairman of the Board of Trustees of Khmer Enterprise.

The new strategic plan was presented for implementing core programmes and highlighted projects that are aligned with the Pentagonal Strategy Phase I of the Royal Government of Cambodia, said the Ministry of Industry, Science, Technology & Innovation (MISTI).

The new strategic plan aims to promote entrepreneurship across the country with a focus on four sectors: services, agriculture, ICT, and manufacturing, it pointed out.

“Khmer Enterprise has achieved commendable progress in the first half of 2024, yet significant challenges remain ahead. It is crucial for our SMEs to embrace new technologies, access technical skills and formal financial services, and commit to high standards and quality. This will enable them to compete effectively in both local and international markets,” said H.E. Hem Vanndy.

The Board of Trustees expressed its support for Khmer Enterprise to pursue the 2024 plan, which focuses on several key initiatives: expanding entrepreneurship support programmes, enhancing market competitiveness, encouraging SMEs to adopt technology, and broadening the promotion of an entrepreneurial culture throughout Cambodia, MISTI underlined.

According to the same source, as a government trust, Khmer Enterprise plays a crucial role in developing the entrepreneurial ecosystem in Cambodia. It offers resources, training, and support that empower entrepreneurs to transform their ideas into viable businesses and drive expansion. The organisation’s support programmes are designed to enhance capacity, boost competitiveness, and stimulate business growth throughout the country.

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On Monday, 29 July 2024, the Consumer Protection Competition and Fraud Repression Directorate General «CCF» of the Ministry of Commerce collaborated with GIZ Cambodia under the COMPETE II and PROTECT II Project to organize a workshop on “Fostering Collaborative Public-Private Dialogue: Navigating Competition Law & Consumer Protection in E-Commerce and Intellectual Property Rights for SMEs.

” The workshop took place in Siem Reap Province and was chaired by H.E. PHAN Oun, Delegate of the Royal Government of Cambodia in charge as Director General of CCF, and His Excellency LY Sary, Deputy Governor of Siem Reap Provincial Administration, along with Ms. Marie Hoffmann, Private Sector Development Advisor at GIZ Cambodia.

The workshop is highly interactive, with participants from various sectors, including the representatives from the Cambodia Chamber of Commerce in Siem Reap-Oddar Meanchey, Banteay Meanchey, Kampong Thom, and Preah Vihear, the Siem Reap Provincial Departments, the Siem Reap Provincial Prosecutor’s Office, and the Department of Commerce in Siem Reap, Banteay Meanchey, Kampong Thom, Oddar Meanchey, and Preah Vihear. Additionally, the Cambodia Women Enterprise Association (CWEA), Young Entrepreneurs Association of Cambodia (YEAC), vendors, business owners, and students based in Siem Reap, as well as CCF branches, also participated, making a total of approximately 180 participants.

The purpose of this workshop is to broaden and integrate stakeholders’ understanding of, especially small and medium enterprises, the Law on Competition, Law on Consumer Protection, Law on Food Safety, and other relevant regulations in E-Commerce and intellectual property rights, resulting in fair competition in the market, creating a level playing field between businesses, and safeguarding the well-being and economic interests of consumers, especially in the context of the digital market.

The workshop provided a platform for speakers from institutions and stakeholders to engage in roundtable discussions where they collectively shared their experiences regarding the challenges and implementation of the Law on Competition and the Law on Consumer Protection in relation to e-commerce and intellectual property rights.

The panelists, who are experts in their respective fields, included representatives from the Department of Legal Affairs, Department of Intellectual Property Rights, CCF Directorate General of the Ministry of Commerce, Cambodia Chamber of Commerce (CCC), Cambodia Women Enterprise Association (CWEA), and Young Entrepreneurs Association of Cambodia (YEAC).

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This significant partnership is signed by Oknha Pech Bolen, President of YEAC and Dr. Khim Leang, Vice President of CJBI.

Together, CJBI and YEAC are committed to empowering SMEs through network building, information sharing, and business matching opportunities.

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