Cambodia’s Financial Technology (Fintech) Development Policy for 2023-2028 represents a forward-looking approach to leverage digital innovation for the country’s economic and social advancement. Key aspects of the policy, such as promoting financial inclusion, ensuring stability, and fostering innovation, align with global trends in the fintech sector. The rapid growth of e-wallet accounts in Cambodia demonstrates the potential for digital financial services to benefit a wide range of consumers.
However, as Chhin Ken, the leader of the Cambodia Digital Tech Association, rightly emphasizes, digital competency is a crucial component of realizing the full potential of fintech. Providing training and support for businesses and individuals to navigate the digital landscape can lead to significant cost and time savings, as well as contribute to economic growth.
Cambodia’s commitment to embracing fintech and digital financial services is a positive development that has the potential to drive financial inclusion and economic progress in the country. The successful implementation of this policy will depend on collaboration among various stakeholders and a focus on enhancing digital skills and literacy.