Shanghai: The Royal Government of Cambodia, through the Ministry of Commerce, is actively promoting e-commerce and cross-border payments to enable small and medium-sized enterprises (SMEs) to sell their products and meet demand both domestically and internationally. This initiative was highlighted by the ministry's Secretary of State, H.E. Samheng Bora, at the 8th Hongqiao International Economic Forum held in Shanghai, China.
According to Agence Kampuchea Presse, H.E. Samheng Bora emphasized the critical role of the financial sector in trade, stating that access to appropriate financing is essential for boosting production, connecting markets, and strengthening confidence in global trade. Financial innovation, particularly in digital payment systems and fintech solutions for cross-border payments, has significantly transformed trade and investment practices.
H.E. Secretary of State also outlined several initiatives by the Royal Government of Cambodia aimed at promoting an inclusive financial sector and enhancing digital connectivity. These initiatives include the development of the National Single Window and the CamDx platform to enhance transparency and reduce time and costs in accessing public services. Additionally, support for SMEs in gaining access to financing and adopting digital tools is a key focus to facilitate their growth and exports.
Moreover, the promotion of e-commerce and cross-border payments, particularly through platforms like CambodiaTrade.com and partnerships with major platforms such as Alibaba, is enabling Cambodian SMEs to strengthen their presence online. The creation of the Bakong system by the National Bank of Cambodia is another significant development, facilitating faster and more convenient digital payments and contributing to more inclusive trade practices.
H.E. Samheng Bora also provided insights into Cambodia's latest developments in the economic, trade, and investment sectors during the forum.