Phnom penh: The National Bank of Cambodia (NBC) officially launched on Dec. 17 the 'Financial Sector Development Strategy 2025-2030,' a key document for the continued development of the financial system in Cambodia.
According to Agence Kampuchea Presse, the official launching ceremony was presided over by H.E. Dr. Aun Pornmoniroth, Deputy Prime Minister and Minister of Economy and Finance, H.E. Dr. Chea Serey, NBC Governor and Chairwoman of the Financial Sector Development Steering Committee, and H.E. Vijay Kumar Akasam, Head of Country Operations of the Asian Development Bank to Cambodia, as well as representatives from ministries, institutions, and development partners.
The 'Financial Sector Development Strategy' serves as a roadmap for long-term financial sector development and has undergone five updates over the past 25 years, beginning with the Financial Sector Development Vision and Plan 2001-2010, as stated by H.E. Dr. Aun Pornmoniroth. The Deputy Prime Minister commended the successful preparation of the 'Financial Sector Development Strategy 2025-2030' by the relevant ministries and institutions.
He noted that despite ongoing challenges and regional and global uncertainties, Cambodia's economy has shown rapid recovery and continues on a strong growth path following the global COVID-19 crisis. The Cambodian economy, while facing retaliatory tariffs and encroachments on national sovereignty and territorial integrity, is expected to achieve a growth rate of around 5.2 percent in 2025 and around 5 percent in 2026, added H.E. Dr. Aun Pornmoniroth.
The strategy is in line with the government's Pentagonal Strategy - Phase 1 and Cambodia's long-term objective of becoming an upper-middle-income country, positioning the financial sector as a catalyst for resilience, productivity, and inclusive development in an uncertain global landscape.
NBC Governor H.E. Dr. Chea Serey highlighted that the strategies implemented thus far have reinforced the foundations of a stable, diversified, modern, and integrated financial system. She emphasized the need for a capable and dynamic financial system to support more interconnected economic activity, deeper integration, and higher productivity as Cambodia aims to transform into an upper-middle-income country.