The 2024 China-Cambodia Digital Economy Cooperation Forum and the inauguration of the China-Cambodia Digital Economy Professional Association marked a significant milestone in deepening digital cooperation between the two nations.
Held on Monday at the Sofitel Phnom Penh Phokeethra, the event brought together high-ranking Cambodian and Chinese officials, including Deputy Prime Minister Aun Pornmoniroth, who emphasized the importance of collaboration in digital innovation, trade, and economic development.
This strengthened partnership aligns with Cambodia’s strategic vision to harness digital technology for economic resilience and sustainable growth, paving the way for further integration with the global digital economy.
The event attracted numerous high-profile attendees, including Minister of Industry, Science, Technology & Innovation Hem Vanndy, Minister of Tourism Huot Hak, Minister of Post and Telecommunications Chea Vandeth, and Chinese Ambassador to Cambodia Wang Wenbin, among other distinguished guests.
In his opening address, Pornmoniroth highlighted the significance of the forum in fostering bilateral digital collaboration, saying it contributes to the further strengthening and expansion of cooperation between Cambodia and China, especially in the field of technology, as well as to promote the overall development of the digital economy of our two countries.
He expressed gratitude to China for its enduring support of Cambodia, describing the Cambodia-China “Diamond Hexagon” cooperation framework.
The rapid growth of digital technology has created new avenues for economic resilience, with innovations that drive productivity and global trade. For Cambodia, advancing the digital economy is pivotal in the nation’s overall development strategy.
The government has embraced this digital shift with initiatives like the “Cambodia Digital Economy and Society Policy Framework 2021-2035” and the “Digital Government Policy 2022-2035.”
These policy frameworks, introduced during the leadership of former Prime Minister Hun Sen and continued under Prime Minister Hun Manet, aim to position Cambodia as a competitive player in the digital age.
Mr Hun Manet last year introduced the Pentagonal Strategy highlighting digital technology as a priority area, aiming to boost economic productivity and laying a foundation for Cambodia’s long-term vision of becoming a high-income country by 2050.
Under this strategy, digital technology, alongside infrastructure development in areas such as electricity and transportation, is expected to accelerate Cambodia’s integration into the global economy and its preparedness for Industry 4.0.
“For Cambodia, the development of the digital economy is considered an important driver in the process of economic development,” he said.
“Technology, especially digital technology, has been identified as a new key priority in response to the Industrial Revolution 4.0 and the digital transformation of the Cambodian economy and society, as well as in response to the need to improve economic productivity,” he added.
Pornmoniroth emphasized that 2024 marks the 66th anniversary of diplomatic relations between Cambodia and China, with trade and cooperation reaching new heights. In the first three quarters of 2024 alone, trade volume between the two nations reached approximately $9.8 billion—a 13.2 percent increase compared to the previous year.
Cambodian exports to China rose by 21 percent to about $1.27 billion, while imports from China increased by 12 percent to $8.52 billion.
Beyond trade, Cambodia is enhancing digital economic collaboration with China. The Ministry of Economy and Finance has modernized customs operations through digital solutions, including a one-stop system that facilitates trade and e-commerce. Plans are also underway to implement an e-invoicing system to streamline cross-border transactions.
Digital cooperation initiatives between Cambodia and China have also expanded through projects like the Go4eCam initiative, which supports e-commerce development in Cambodia. In 2023, Cambodia signed a memorandum of understanding with Alibaba under the Electronic World Trade Platform (eWTP) framework to boost exports, expand e-commerce, and enhance digital capacity in tourism and technology.
In the field of digital payments, Cambodia’s National Bank launched cross-border payment solutions using QR codes in collaboration with Ant International, integrating Cambodia’s “Bakong” digital payment system with China’s Alipay+. This collaboration facilitates seamless transactions, especially for tourists, and deepens digital integration between the two countries.
