Cambodian Deputy Prime Minister and Minister of Economy and Finance Aun Pornmoniroth on October 4 announced the Cambodia Financial Technology Development Policy 2023-2028, which aims to boost the development of fintech in the Southeast Asian country.
|Cambodia launches new fintech development policy, illustration photo/ Source: freepik.com
Phnom Penh – Cambodian Deputy Prime Minister and Minister of Economy and Finance Aun Pornmoniroth on October 4 announced the Cambodia Financial Technology Development Policy 2023-2028, which aims to boost the development of fintech in the Southeast Asian country.
Addressing a workshop to announce the policy, Aun Pornmoniroth said he believed that the implementation of the policy will help Cambodia to benefit from the digitalisation of the financial sector and it will provide opportunities to all parties to contribute to the development of Cambodia’s digital economy and society.
The workshop, held by Cambodia’s Digital Economy and Business Committee (DEBC), aimed to create awareness about the policy and promote the development of fintech in Cambodia.
It drew high-ranking officials from ministries, public institutions, regulators, embassies, banking and financial institutions, educational institutions, insurance companies, local and international private companies and other relevant associations.
DEBC also organised five workshops, namely the National Consultation Workshop on Policy and Direction of Cambodia’s FinTech, the Role of Insurance Sector and FinTech in the Digital Economy in Cambodia, the Role of Banking Sector and FinTech in Digital Economy in Cambodia, the FinTech Stage of Cambodia Tech Expo 2022, and the Roles of Decentralised Finance and Data Protection Framework in FinTech Development in Cambodia.
|Cambodia imposes VAT on cigarettes
The Cambodian Government has implemented a value-added tax (VAT) on cigarettes to combat the health risks associated with smoking and tobacco products.
|Social media platforms take over e-commerce in Cambodia
Social media is rapidly taking over the e-commerce sector in Cambodia with almost all local businesses promoting their services using social media platforms, a latest market report has revealed.
|Cambodian central bank to auction 50 million USD to stabilise riel
The National Bank of Cambodia (NBC) announced on September 6 that it has successfully auctioned 10 million USD in an effort to stabilise the Cambodian riel against the US dollar.