Cambodia's Digital Economic Plans
By
B2B Cambodia
on
Between 2020-2021, the Cambodian Government has launched a number of digital economic initiatives, online platforms and its official digital plan for the Kingdoms' economic development.
We have previously written on eCommerce (E-commerce or electronic commerce) in Cambodia and its rapid growth as well as the broad range of new regulations that were being introduced.
As was outlined earlier in 2021, a number of laws and changes have been announced, such as:
- eCommerce law passed in 2019 and adopted in 2020.
- Consumer Protection Law which came into effect in 2019.
- Digital contracts and signatures permitted from 2020.
- Cambodian government introducing a digital service tax (VAT) on international tech companies - known as Sub-decree 65.
Cambodia's Digital Policy Framework
These all form part of the broader Cambodian Ministry of Commerce's E-commerce strategy and an updated new 14-year plan on digital policy released in June 2021. The government's “Digital Economy and Social Policy Framework of Cambodia 2021-2035” looks at how digital offers a new model of economic growth for the nation. Cambodia has set out its vision in a very word framework titled: “Building a vibrant digital economy and society by laying the foundations for promoting digital adoption and evolution in all sectors of society, the state, the people and the business community.” The policy framework looks to impact key economic benefits, which include:- Job creation
- Skills development
- Improved investment climate
- Trade and business activity boosts
- Links in regional and global production and value chains
- More efficient public service delivery
- Creating digital citizens
- Building the digital government
- Promoting digital businesses