Cambodia’s online economy is growing quickly, but the country is still trailing several of its ASEAN neighbours in broader digital development. A new policy assessment from the Asian Development Bank highlights the gap as e commerce becomes an increasingly important part of regional trade and market access. The findings, released in August 2026, show that Cambodia scored just 19.3 on the ADB’s 2024 Digitalization Index, compared with 42.6 for Thailand, 34.6 for Viet Nam, 34.2 for Indonesia and 47.5 for Malaysia, while Singapore led the region with 83.1. The figures point to a clear challenge for Cambodia: online commerce is expanding, but the infrastructure, skills, payments and regulations needed to fully support the digital economy still have room to catch up.

Cambodia’s Digital Gap Remains Significant

The ADB’s Digitalization Index measures progress across seven areas, including digital infrastructure, regulation, skills and innovation. Cambodia’s score of 19.3 places it well behind the region’s stronger digital economies, highlighting the difference between the rapid adoption of online commerce and the broader development of the digital ecosystem needed to support it.

That gap matters because e commerce is no longer simply a way for consumers to shop online. It is increasingly becoming a route for businesses to reach customers, participate in regional supply chains and sell across borders. The ADB has warned that many micro, small and medium sized enterprises still struggle to access digital trade because of limited financial resources, technology and skilled workers. For Cambodia, where smaller businesses make up a large part of the economy, improving digital access could therefore have a direct impact on business growth and competitiveness.

Cambodia’s E Commerce Market Continues to Expand

The digitalization gap comes at a time when Cambodia’s e commerce sector is showing strong momentum. According to the Ministry of Commerce’s iTrade Bulletin, Cambodia’s e commerce market was valued at about $1.51 billion in 2024 and was projected to reach $1.78 billion in 2025, representing growth of around 17.88 percent. E commerce accounted for about 6.68 percent of Cambodia’s GDP in 2024, showing that online business has already become a meaningful part of the national economy.

The 2025 figures also reveal how closely Cambodia’s online commerce is tied to social media and digital payments. Facebook, TikTok and Telegram have become important channels for businesses selling products online, while QR payments accounted for 47.15 percent of online transactions, followed by cash at 26.5 percent and mobile money transfers at 13.3 percent. Apparel was among the leading online purchase categories, followed by beauty and cosmetics and food delivery.

For businesses looking for the original 2025 data, the Ministry of Commerce’s iTrade material is also available through Open Development Cambodia’s iTrade Bulletin 2025 record, which provides access to the underlying report and its key findings.

What the 2026 Picture Tells Us

There is an important distinction between Cambodia’s 2025 e commerce data and the digital economy situation in 2026. The latest widely cited official market figures available for Cambodia put the 2025 e commerce market at a projected $1.78 billion. A complete official 2026 annual market figure has not yet been published, so the latest 2025 figure should not be presented as a confirmed 2026 market size.

What is clear in 2026 is that online commerce continues to develop alongside Cambodia’s wider digital transformation. Government data shows that 68.48 percent of the population uses the internet, while mobile subscriptions have reached about 20.69 million. These figures provide a strong foundation for further growth in online shopping, digital payments and digital services.

The wider regional trend is also moving quickly. The Google, Temasek and Bain & Company e Conomy SEA 2025 report projected that Southeast Asia’s digital economy would surpass $300 billion in gross merchandise value in 2025. The report also found that video commerce was expanding particularly rapidly and was expected to account for about 25 percent of regional e commerce GMV in 2025.

This means Cambodia is entering a regional market that is becoming increasingly digital, competitive and interconnected. The opportunity is significant, but businesses need more than social media pages and mobile phones to compete effectively across borders.

Infrastructure and Digital Skills Are Key Obstacles

The ADB identifies reliable infrastructure, interoperable payment systems, efficient logistics and supportive regulations as essential building blocks for cross border e commerce. Without these foundations, Cambodian businesses may find it difficult to move from selling locally through social media to reaching customers throughout ASEAN and beyond.

Digital skills are another major concern. The ADB report notes that around 40 percent of people in the region lack basic digital competencies. Limited skills can prevent workers and small businesses from making effective use of digital tools while also increasing exposure to online fraud and cybersecurity risks. For Cambodia, improving digital literacy will therefore be just as important as expanding internet connectivity.

MSMEs Could Gain the Most From Closing the Gap

The stakes are particularly high for micro, small and medium sized enterprises. Across Asia and the Pacific, MSMEs account for around 97 percent of enterprises, 69 percent of employment and 41 percent of GDP. Yet these businesses often face greater difficulties accessing finance, technology and skilled labour.

Closing Cambodia’s digital gap could give smaller businesses new opportunities to reach customers beyond their traditional markets. A Cambodian producer selling food, fashion, handicrafts or other products online could potentially use digital platforms, electronic payments and improved logistics to connect with consumers across the region. But achieving that potential requires a business environment where digital transactions are trusted, affordable and easy to use.

Regional Agreements Could Open More Doors

Cambodia is also part of a regional environment that is becoming more supportive of digital trade. The Regional Comprehensive Economic Partnership, or RCEP, and the ASEAN Digital Economy Framework Agreement are expected to support greater regional integration by addressing issues such as data flows, payments, trade facilitation and digital governance.

The broader goal is to make cross border digital transactions easier by reducing regulatory differences between markets. If these frameworks are effectively implemented, Cambodian companies could find it easier to participate in regional digital supply chains and reach customers outside the domestic market.

However, regional agreements alone will not close Cambodia’s digitalization gap. The country still needs to strengthen connectivity, digital skills, payment interoperability, logistics and regulatory systems so that local businesses are actually able to take advantage of the opportunities created by regional integration.

Why Cambodia’s E-Commerce Growth Matters?

Cambodia’s situation presents a striking contrast. On one side, consumers and businesses are rapidly embracing online commerce, digital payments and social media based selling. On the other, the country’s overall digitalization level remains well below several ASEAN peers.

That contrast suggests Cambodia’s next stage of digital development should focus less on simply getting more people online and more on making digital participation productive. Better infrastructure, stronger digital skills, safer payments, efficient delivery networks and clearer regulations could help transform e commerce from a fast growing consumer activity into a stronger engine for business expansion and regional trade.

Conclusion

Cambodia’s e commerce boom shows that demand for digital business is already here. The bigger question is whether the country can build the systems needed to support that growth at the same pace as its ASEAN neighbours.

With the e commerce market projected to have reached $1.78 billion in 2025 and regional digital trade continuing to expand, Cambodia has a substantial opportunity ahead. But the ADB’s digitalization score of 19.3 shows that the foundation still needs strengthening. Closing the gap will require investment in connectivity, digital skills, payment systems, logistics and regulation. If those pieces come together, Cambodia’s growing online economy could become a much stronger gateway for MSMEs to reach regional consumers and supply chains.

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Cambodia is putting a stronger investment spotlight on its northeastern provinces, with the government identifying Stung Treng, Ratanakiri, Mondulkiri and Kratie as priority areas for future economic growth. Speaking in Stung Treng on August 12, 2026, Prime Minister Hun Manet said the government is working to close regional development gaps by improving infrastructure, attracting private investment, creating jobs and expanding agriculture, tourism, trade and agro industry. The broader goal is to turn the Northeast into a stronger economic corridor while creating more opportunities for local communities and investors.

The message is increasingly relevant for businesses looking beyond Cambodia’s established economic centres such as Phnom Penh, Siem Reap and Preah Sihanouk. The government sees the Northeast as a region with untapped potential, particularly in agriculture, food processing, eco tourism, livestock, cross border trade and services that support production. For investors, this means the region could offer opportunities in sectors connected to natural resources, local production, tourism and growing cross border economic activity.

Four Northeastern Provinces Are Being Positioned as Growth Hubs

Prime Minister Hun Manet said Stung Treng, Ratanakiri, Mondulkiri and Kratie are receiving particular attention as the government works to reduce the development gap between the Northeast and Cambodia’s central economic areas. The strategy combines infrastructure development with stronger public services and policies designed to make the region more attractive to businesses.

The government has been improving roads and bridges while also working to strengthen connections between the northeastern provinces, Phnom Penh, neighbouring provinces and Cambodia’s neighbouring countries. Better connectivity is important for businesses because lower transportation costs and easier movement of goods can make agricultural production, tourism and cross border trade more commercially viable.

The development push also extends beyond physical infrastructure. The government is investing in healthcare, education and vocational training while upgrading electricity networks, clean water supplies, telecommunications and internet connectivity. These improvements are intended to create the basic conditions businesses need to establish operations and expand outside Cambodia’s traditional commercial centres.

Agriculture and Agro Industry Stand Out for Investors

Agriculture is one of the clearest investment opportunities in the Northeast. Prime Minister Hun Manet highlighted farming and agro industry as sectors where the region has advantages that other parts of Cambodia may not have. The government has instructed relevant ministries and provincial administrations to work with the Supreme National Economic Council to identify agricultural products with strong potential for agro industrial development.

For investors, the opportunity is not limited to farming itself. Processing, packaging, cold storage, logistics, agricultural equipment, animal feed, food production and other services supporting farmers could become increasingly important as production expands. Adding value locally could also help farmers earn more while creating jobs and reducing the need to transport raw agricultural products to other parts of the country for processing.

This creates a potentially attractive business model for companies that can connect local producers with domestic and international markets. Investors with expertise in food processing, supply chain management, agricultural technology and export development may find opportunities as the government works to build stronger production networks across the four provinces.

Eco Tourism and Community Tourism Offer Another Opportunity

Tourism is another sector the government wants to develop across the Northeast, particularly natural, cultural and community based tourism. Unlike the highly developed tourism markets around Angkor Wat and Phnom Penh, the northeastern provinces offer forests, rivers, wildlife areas, waterfalls, indigenous communities and other natural attractions that can support different types of tourism experiences.

That creates opportunities for businesses involved in eco lodges, boutique accommodation, guided tours, transportation, outdoor activities, restaurants, local products and community based tourism services. Investors do not necessarily need to build large scale tourism projects. Smaller businesses that provide quality experiences and connect visitors with local communities could also benefit as tourism infrastructure and promotion improve.

The government is also encouraging the development of a green economy. This could create opportunities for businesses that combine tourism with environmental protection, sustainable agriculture, responsible resource use and community development. For investors, the key will be finding commercially viable projects that protect the natural assets that attract visitors in the first place.

Cross Border Trade Could Become a Major Business Driver

The Northeast has another important advantage: its location. The region connects Cambodia with Laos and Vietnam, giving businesses opportunities to participate in cross border trade and logistics. Prime Minister Hun Manet specifically highlighted the need to strengthen cross border trade and logistics systems as part of the government’s broader development strategy.

Stung Treng is particularly important because of its position as a transit area connecting Cambodia with Laos and other countries. Improving roads, logistics infrastructure and border facilities could make the province more relevant to companies involved in transportation, warehousing, distribution, trading and other services supporting regional commerce.

Stung Treng Governor Sar Soputra said the province is already expanding economic relationships with nearby provinces in Laos and Vietnam. The province is also preparing agreements to cooperate with Binzhou, a city in China’s Shandong province. Such relationships could create additional channels for trade, investment and business partnerships over time.

Investment Interest Is Already Growing

The government’s investment figures suggest that the Northeast is attracting serious interest rather than simply being promoted as a future opportunity. As of August 7, the Special Programme to Promote Investment in the Four Northeastern Provinces, known as the SPIN Programme, had received 72 investment proposals.

Of those proposals, 57 had been reviewed and were undergoing the necessary procedures for implementation. Together, the proposals represent approximately $2.7 billion in investment capital and are expected to create more than 80,000 jobs.

The figures show why the Northeast is increasingly appearing on Cambodia’s investment radar. If these projects move forward successfully, they could create demand for local suppliers, construction companies, logistics providers, professional services, technology companies, hospitality businesses and other businesses supporting investors and workers.

Stung Treng Shows Both the Opportunity and the Challenge

Stung Treng provides a useful example of the region’s economic potential and development challenges. According to Governor Sar Soputra, the province has a population of 191,071 people, representing 46,083 families, with more than 76 percent of the population working in farming.

The province’s total economic output is estimated at around $369 million, equivalent to approximately $1,898 per person, while the poverty rate is about 17 percent. These figures point to significant room for economic development, particularly in sectors capable of creating higher value jobs and increasing income for rural communities.

The province is also improving its urban environment and public spaces. Prime Minister Hun Manet inaugurated several new facilities in Stung Treng city, including Techo Thipadei Square, Naga Chey Pavilion, Borvor Thipadei Park, Sovannaphoum Park and the Honey Pineapple Statue Park. While these projects are designed to improve public spaces and quality of life, they can also contribute to the development of a more attractive environment for residents, visitors and businesses.

What Could You Invest in or Do Business in Cambodia’s Northeast?

For businesses considering the region, the strongest opportunities appear to be connected to sectors where the Northeast already has natural or geographic advantages. Agriculture and agro processing are among the most obvious options, particularly food processing, packaging, agricultural supply chains and businesses that add value to local products.

Eco tourism and community based tourism also have room to grow. Accommodation, tour operations, local transportation, restaurants, outdoor experiences and locally produced souvenirs could benefit as infrastructure and visitor awareness improve.

Cross border logistics is another area worth watching. Warehousing, transportation, distribution, trading services and businesses supporting Cambodia’s trade with Laos and Vietnam could become increasingly important as connectivity improves.

Businesses providing production support could also benefit. These include equipment suppliers, agricultural technology providers, telecommunications services, digital businesses, construction services, vocational training and professional services. As more investment projects enter the provinces, demand for these supporting businesses is likely to increase alongside the larger projects themselves.

Infrastructure and Stability Remain Critical

The government acknowledges that investment will depend heavily on infrastructure, public services and a stable business environment. Prime Minister Hun Manet stressed that peace, security and public order are essential conditions for attracting investment and supporting long term economic development.

Security is particularly important in Stung Treng because of its location along an important cross border route. The government is seeking stronger controls against illicit activities linked to the black economy, including drug trafficking and human trafficking. Maintaining secure borders and safe communities will be important not only for residents but also for businesses involved in tourism, trade and logistics.

The government is also continuing to address challenges that could affect investors, while promoting Cambodia as a destination for domestic and foreign investment. The intention is to make investment more accessible to businesses of different sizes rather than focusing only on large corporations.

The Northeast Could Become Cambodia’s Next Investment Frontier

Cambodia’s northeastern provinces are unlikely to immediately rival Phnom Penh, Siem Reap or Preah Sihanouk in terms of economic scale. Prime Minister Hun Manet acknowledged this difference, saying, “Although the northeastern provinces are economic poles that cannot be compared with those of Siem Reap, Phnom Penh and Preah Sihanouk, they have potential that other provinces may not have, particularly in agriculture, agro-industry and tourism,”

But that difference may also be part of the opportunity. Lower levels of development mean there is more room for new businesses, infrastructure and value chains to emerge. The government’s current focus on roads, utilities, digital connectivity, human capital and investment incentives could gradually make the region more competitive.

The government’s stated strategy is to accelerate development through physical and non physical infrastructure, stronger cross border trade and logistics, natural and community based tourism, a green economy and investment in agro industry, tourism, livestock and production support services. As the SPIN Programme continues, businesses that enter early and understand local markets could potentially position themselves ahead of broader development.

Conclusion

Cambodia’s Northeast is moving from being a relatively overlooked part of the country’s economy toward becoming a targeted investment and development region. Stung Treng, Ratanakiri, Mondulkiri and Kratie are receiving greater government attention, while investment proposals under the SPIN Programme already represent about $2.7 billion in potential capital and more than 80,000 expected jobs.

For investors and entrepreneurs, the biggest opportunities are likely to come from agriculture and agro industry, food processing, eco tourism, community tourism, livestock, cross border trade, logistics and services that support local production. The region still faces challenges in infrastructure, skills, market access and security, but those same gaps could create opportunities for businesses capable of solving them.

The key question for investors is therefore not simply whether the Northeast is ready to compete with Cambodia’s biggest economic centres. It is whether businesses can identify the right local needs early and build solutions around the region’s strongest advantages. For companies willing to take a longer term view, Cambodia’s Northeast could become one of the country’s emerging investment frontiers.

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Cambodia is set to develop its first large scale fresh milk production and processing facility in Pursat province, with an investment of about US$68 million. The project, known as Farm Fresh Pursat, is expected to strengthen the country’s domestic milk supply, respond to growing consumer demand and reduce Cambodia’s reliance on imported dairy products. The project is being developed in Veal Veng district across approximately 1,000 hectares and will combine international standard dairy farming with a local milk processing plant.

The investment comes after Cambodia experienced serious milk supply disruptions during last year’s border conflict with Thailand. Because Thailand has traditionally supplied more than 76% of Cambodia’s dairy imports, the shortages exposed the country’s dependence on imported fresh milk and accelerated efforts to build stronger domestic production.

Pursat Secures Cambodia’s First Large Scale Dairy Project

On August 5, the Pursat Provincial Administration and Sonavith Co Ltd signed a land lease agreement for the Farm Fresh Pursat project in cooperation with Malaysia’s Farm Fresh Group and Cambodia’s Alpha Group. The agreement marks an important step toward establishing a major domestic dairy production base in Cambodia.

The project will cover about 1,000 hectares in Veal Veng district. Its development will include large scale dairy farms and a milk processing facility designed to strengthen the entire local dairy supply chain. Beyond serving Cambodia’s domestic market, the project is also expected to create the capacity to supply future export markets.

Project Aims to Reduce Cambodia’s Milk Import Dependence

One of the biggest reasons the project matters is Cambodia’s continued dependence on imported dairy products. The country’s milk supply has historically relied heavily on imports, particularly from Thailand, leaving the domestic market vulnerable when cross border trade or supply chains are disrupted.

The situation became especially visible in July 2025, when supermarket shelves were emptied and coffee shops and restaurants struggled to secure fresh milk. Thailand had traditionally accounted for more than 76% of Cambodia’s dairy imports, meaning disruptions to supplies from the neighbouring country quickly affected businesses and consumers.

The new Pursat project is therefore expected to provide a more stable source of locally produced fresh milk. By developing farming, processing and distribution capacity within Cambodia, the investment could help reduce import dependence while creating a stronger foundation for the country’s dairy industry.

Project Expected to Create Jobs and New Economic Opportunities

Pursat Provincial Governor and Provincial Administration Unity Command chairman Khoy Rida described the investment as a major milestone for both Pursat province and Cambodia. He said the project will establish the country’s largest dairy farm and create numerous employment opportunities for local residents.

For Pursat, the investment could also raise the province’s profile as a destination for large scale agricultural and food processing projects. A project of this size has the potential to generate demand for local services, transportation, farming inputs and other supporting businesses as the dairy production chain develops.

Farm Fresh Bhd group managing director and chief executive officer Loi Tuan Ee said the company was pleased to invest in Pursat and welcomed the incentives and support provided by the Cambodian government.

“As a leading dairy company in South-East Asia, our investment in Pursat will help raise the province’s profile across South-East Asia and on the global stage,” he said.

Farm Fresh Partnership Marks a New Chapter for Cambodia’s Dairy Industry

The Pursat project follows an agreement signed on October 26 during the 47th Asean Summit and Related Summits, when Farm Fresh and Cambodia’s Alpha Group signed a memorandum of understanding to establish the country’s first large scale fresh milk production and processing facility.

The partnership brings together Malaysian dairy expertise and Cambodian investment and local market knowledge. The planned combination of dairy farming and milk processing is also important because it could allow Cambodia to develop more of its dairy value chain domestically rather than depending mainly on imported finished or raw dairy products.

What Does the US$68 Million Project Mean for Cambodia?

The Farm Fresh Pursat investment is more than the construction of a large dairy farm. It represents an attempt to address a weakness in Cambodia’s food supply system that became particularly clear during the 2025 milk shortage.

If successfully implemented, the project could provide a more reliable domestic source of fresh milk, create jobs in Pursat and support businesses connected to agriculture, food processing, logistics and retail. In the longer term, the development of export capacity could also give Cambodia an opportunity to participate more actively in the regional dairy market.

Why Pursat Could Become an Important Dairy Hub?

With around 1,000 hectares dedicated to the project, Pursat has the scale needed to support a major integrated dairy operation. The combination of farms and processing facilities could help create a more connected production chain, from milk production to processing and distribution.

The project also highlights the broader potential of agricultural investment in Cambodia. As consumer demand grows, investments that improve local production and processing capacity could help strengthen food security while creating new opportunities for rural communities and provincial economies.

Conclusion

Cambodia’s planned US$68 million Farm Fresh Pursat project could mark a turning point for the country’s dairy sector. By establishing a large scale dairy farm and local fresh milk processing facility, the investment aims to reduce dependence on imports, strengthen domestic supply and meet rising consumer demand.

For Pursat, the project brings the prospect of jobs, investment and a stronger economic profile. For Cambodia, it offers an opportunity to build a more resilient dairy industry after the supply disruptions of 2025. If the project develops as planned, Pursat could become an important centre for Cambodia’s future fresh milk production and potentially a base for regional exports.

Source: The Star

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The National Bank of Cambodia (NBC) has introduced new notification requirements for businesses issuing single purpose e money through mobile applications or membership cards, giving them 90 days to formally notify the central bank. The move is intended to ensure that businesses operating these payment systems follow Cambodia’s banking and financial regulations while still allowing micro, small and medium sized enterprises (MSMEs) to support digital payment innovation.

The new rules affect businesses such as cafes, restaurants, transportation companies, entertainment centres, gas stations and other establishments that allow customers to load money into an electronic wallet and use the balance to pay only for products or services offered by the business itself. At the same time, the NBC is warning consumers to be careful when opening e wallet accounts with businesses that are not licensed banks, financial institutions or authorised payment service providers.

Which Businesses Are Covered By The New Rules?

According to the NBC, some businesses have been issuing electronic money through mobile applications or membership cards as part of their customer services. These accounts allow customers to deposit money and spend the balance exclusively at the business that issued the wallet.

This type of arrangement is classified as single purpose e money because the funds can only be used to purchase products or services from one physical business. The system can be found in different sectors, including food and beverage, transportation, entertainment and fuel services.

Why Is NBC Requiring Businesses To Notify The Central Bank?

Under Cambodia’s Law on Banking and Financial Institutions 1999, providing payment facilities to customers is considered part of the operations of banking and financial institutions. Such activities generally require authorisation from the NBC.

The NBC also referred to Article 20, Point 1 of the Prakas on the Management of Payment Service Institutions, issued in 2017. The provision prohibits legal entities other than banking and financial institutions and licensed payment service institutions from issuing electronic money.

However, the regulation provides an exception for certain businesses. To support micro, small and medium sized enterprises and encourage innovation, Point 2 allows eligible entities to issue electronic money without obtaining a licence, provided they notify the NBC in writing in advance and meet the required conditions.

What Are The E Wallet Limits?

Businesses using this exception must operate within specific limits set by the central bank. The maximum balance allowed in each e wallet account is 200,000 riel, or approximately $50.

At the same time, the combined balance across all accounts operated by the business must not exceed 800 million riel, equivalent to about $200,000. The electronic money must also be used only to pay for products or services provided by a single physical business, alongside other conditions prescribed by the NBC.

These limits are important for businesses because exceeding them could place their e money activities outside the conditions allowed under the notification based arrangement.

Businesses Have 90 Days To Notify NBC

The NBC said businesses that are not banking and financial institutions or licensed payment service institutions but are already issuing electronic money must formally notify the central bank in writing within 90 days from the date of the announcement.

The requirement gives businesses time to review their existing e wallet systems and ensure they meet the conditions set by the NBC. Businesses that fail to submit the required notification within the specified period could face action under Cambodia’s applicable legal procedures.

“In case of failure to notify within the specified time, the National Bank of Cambodia will take action according to the applicable legal procedures,” the statement said.

What Should E Wallet Users Know?

The new rules are also relevant to consumers who use e wallets provided by businesses. The NBC urged the public to exercise caution when registering for e wallet accounts through mobile applications operated by businesses or companies that are not recognised as banking and financial institutions and do not hold the appropriate licences.

Consumers should understand that these e wallet accounts are not the same as savings accounts at a bank. Businesses operating these accounts are also strictly prohibited from paying interest on the money held in them.

Why Should Customers Be Careful With Their E Wallet Balances?

The NBC advised customers not to keep balances above the prescribed limits. Users should also understand that they are responsible for potential risks associated with opening and using e wallet accounts provided by businesses that fall under these arrangements.

For consumers, the message is straightforward: an e wallet issued by a cafe, restaurant, transport company, entertainment business or other establishment may be useful for making payments within that business, but it should not be treated as a conventional bank account.

What Does This Mean For Businesses And Consumers?

For businesses, the new requirement highlights the importance of checking whether their e money activities comply with NBC regulations. Companies already offering single purpose e money services should determine whether they qualify for the notification based arrangement and complete the required notification within the 90 day period.

For consumers, the announcement provides an important reminder to check who operates an e wallet before depositing money. Understanding whether the provider is licensed, what the wallet can be used for and what balance limits apply can help users avoid unnecessary financial risks.

Conclusion

Cambodia’s latest e wallet notification requirement reflects the NBC’s effort to keep digital payment services within a clear regulatory framework while allowing smaller businesses to continue experimenting with innovative payment solutions. The 90 day notification period gives eligible businesses an opportunity to bring their operations into compliance, while consumers are being reminded that business based e wallets are not savings accounts and should be used with caution.

As digital payments continue to expand across Cambodia, both businesses and consumers will need to pay closer attention to the rules governing electronic money, licensing, account limits and consumer protection.

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Cambodia has launched a new five year strategy aimed at giving the country’s startup sector a stronger foundation for growth, innovation and investment. The National Strategy on Startup Development 2026 to 2030 was officially launched in Phnom Penh on August 11 by Deputy Prime Minister and Minister of Economy and Finance Aun Pornmoniroth, with the government seeking to build a more competitive and sustainable startup ecosystem that can contribute to the country’s long term economic development.

The strategy provides a common roadmap for government ministries, institutions, investors, entrepreneurs and other ecosystem stakeholders. It focuses on strengthening innovation and entrepreneurship, expanding access to business support and investment, encouraging the use of digital technology and artificial intelligence, and helping promising startups grow into scalable businesses that can compete in Cambodia and international markets.

Government Sets a Clear Direction for Startups

The launch ceremony and dissemination workshop were organised by the Digital Economy and Business Committee (DEBC) and the Techo Startup Center (TSC). Minister of Commerce Cham Nimul and Minister of Post and Telecommunications Chea Vandeth also attended the event, highlighting the cross sector importance of developing Cambodia’s startup economy.

Speaking at the event, Pornmoniroth, who also chairs the DEBC, said the strategy represents more than the introduction of a new policy framework. It also reflects the government’s commitment to supporting businesses, particularly startups that use digital technology as a core part of their operations.

“The strategy aims to strengthen Cambodia’s capacity and competitiveness amid growing regional and global uncertainty, while supporting the wider adoption of digital technologies, particularly advances in artificial intelligence (AI),” he added.

The strategy comes at a time when technology is becoming increasingly important across almost every part of Cambodia’s economy. Digital tools are now being used in education, business, public services and everyday life, creating new opportunities for entrepreneurs while also changing how companies operate and compete.

Digital Technology Seen as a Key Growth Driver

Pornmoniroth stressed that digital technology can help Cambodian businesses improve productivity and compete more effectively. For private companies, adopting new technologies can increase production efficiency, improve capacity and quality, lower operating costs and strengthen connections across supply chains.

These advantages could be particularly important for startups, which often need to grow quickly while working with limited resources. Access to digital tools, technology, investment and business expertise can help young companies test new ideas, reach customers and build products that are competitive beyond the domestic market.

Digital transformation is also becoming an important part of government reform. According to Pornmoniroth, technology can improve public service delivery by reducing bureaucratic procedures, increasing administrative efficiency and strengthening compliance. A more efficient public sector can also create a better business environment for entrepreneurs and investors.

Government Calls for Stronger Implementation

Launching the strategy is only the first step. Pornmoniroth called on ministries and relevant institutions to turn the national framework into concrete action plans that can deliver measurable results.

He also urged the DEBC to establish a strong monitoring and evaluation system supported by clear Key Performance Indicators (KPIs). Such a system will be important in tracking whether the strategy is producing practical improvements for startups rather than remaining only a policy document.

The Deputy Prime Minister also called on businesses, investors, development organisations, support institutions and other startup ecosystem participants to work closely with the ministries responsible for implementing the strategy. Greater cooperation, he said, will help create a stronger environment for startups to develop into competitive enterprises.

Cambodia’s Startup Ecosystem Is Growing

The government’s new strategy comes as Cambodia’s startup ecosystem has expanded considerably in recent years. According to Kong Marry, Secretary of State at the Ministry of Economy and Finance and Secretary General of the General Secretariat of DEBC, the number of startups and organisations supporting them has increased significantly.

“Start-ups have grown from 98 in 2022 to 256 as of May 2026, while the number of actors in its ecosystem has also increased from 153 to 245. In addition to these core players, new business support programmes have also increased significantly, from 108 in 2022 to nearly 500 this year,” he said.

The figures point to a rapidly developing ecosystem. Beyond the startups themselves, entrepreneurs now have access to a growing network of organisations and programmes offering training, acceleration, investment opportunities, competitions, international study tours and investor networking.

This expanding support structure could help address some of the challenges startups face during their early stages, particularly when they need technical expertise, business knowledge, market connections or capital to move from an idea to a viable company.

Startups Positioned as Part of Cambodia’s 2050 Economic Vision

Marry described startups as an increasingly important contributor to Cambodia’s economic development and linked their growth to the country’s long term economic ambitions.

“Startups have also emerged as a major driving force in national economic development and play an indispensable role in contributing to the realisation of Cambodia’s economic vision in 2050,” he said.

With this broader economic goal in mind, the government has developed the national strategy to address challenges facing the startup sector while making better use of its potential. The framework is intended to give ministries, institutions and ecosystem participants a shared direction for building a startup environment that is more inclusive, sustainable and capable of supporting long term growth.

The approach also recognises that startup development cannot depend on entrepreneurs alone. Government agencies, investors, business support organisations, technology companies, universities and other stakeholders all have roles to play in creating the conditions startups need to grow.

Four Targets Set for 2030

According to the Ministry of Economy and Finance, the National Strategy on Startup Development 2026 to 2030 will serve as a roadmap for building a stronger and more connected startup ecosystem.

The strategy aims to strengthen Cambodia’s links with regional and global innovation ecosystems while supporting broader national economic development. Its vision is built around three approaches: positioning the government as a developmental enabler, promoting ecosystem based startup development and fostering co evolution for startup development.

The strategy also establishes four key targets for the coming years. Cambodia aims to move its Startup Ecosystem Performance Index from the emerging stage to the expanding stage, support 300 startups through incubation programmes, help 100 startups secure investment and attract $30 million in startup investment.

These targets give the strategy measurable outcomes that can be tracked over the five year period. If successfully implemented, they could provide Cambodian entrepreneurs with stronger access to support, capital, technology and regional opportunities.

What Does the Strategy Mean for Cambodian Businesses?

For entrepreneurs and business owners, the strategy could mean more opportunities to access training, incubation, acceleration, investment connections and other forms of support. The growing number of programmes already operating in Cambodia suggests that the startup ecosystem is becoming more structured and accessible.

For investors, the government’s focus on startups could also create a larger pipeline of emerging companies seeking capital and partnerships. Attracting $30 million in investment by 2030 signals an ambition to make Cambodia a more active destination for startup investment and innovation.

For established companies, the growth of startups could create opportunities for partnerships, technology adoption, new products and services, and collaboration across industries. As digital technology and AI become more deeply integrated into the economy, startups could increasingly serve as a source of new ideas and solutions.

The Next Challenge Is Turning Strategy Into Results

The strategy gives Cambodia a clear five year direction, but its success will ultimately depend on implementation. Strong coordination between government institutions, entrepreneurs, investors and support organisations will be essential to achieving the targets.

The emphasis on measurable KPIs, investment, incubation and ecosystem development provides a foundation for monitoring progress. If these measures translate into practical support and better market opportunities, Cambodia’s growing startup community could become an increasingly important part of the country’s economic transformation.

Conclusion

Cambodia’s National Strategy on Startup Development 2026 to 2030 marks a significant step in the government’s effort to strengthen the country’s entrepreneurial and innovation ecosystem. With startups increasing from 98 in 2022 to 256 by May 2026 and support programmes approaching 500, the sector is already gaining momentum.

The next five years will be about turning that momentum into sustainable growth. By targeting 300 incubated startups, 100 startups receiving investment and $30 million in investment, Cambodia is setting measurable ambitions for its startup economy. The bigger question now is whether strong implementation and collaboration can turn these targets into real opportunities for entrepreneurs, investors and the wider Cambodian economy.

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Cambodia’s international merchandise trade reached $44.07 billion during the first seven months of 2026, marking a 21.3 percent increase from the same period last year. The latest figures from the General Department of Customs and Excise show that both exports and imports continued to grow strongly, although the country’s trade deficit also widened. China remained Cambodia’s largest trading partner by total trade volume, while the United States continued to provide the Kingdom with its biggest bilateral trade surplus.

The figures highlight a rapidly expanding trading environment in which Cambodia is selling more goods overseas while also importing more products from major international markets. From January through July, exports climbed to $20.81 billion, while imports reached $23.26 billion, pushing the overall trade deficit to $2.44 billion.

China Remains Cambodia’s Biggest Trading Partner

China continued to dominate Cambodia’s trade landscape during the first seven months of the year. Bilateral trade reached $13.63 billion, representing a 23.9 percent increase compared with the same period in 2025. China alone accounted for roughly 31 percent of Cambodia’s total merchandise trade.

Cambodian exports to China increased 24.2 percent to $1.10 billion, showing continued demand for Cambodian products in the Chinese market. However, imports from China were much larger, rising 23.8 percent to $12.52 billion.

That gap resulted in a bilateral trade deficit of $11.42 billion with China, making the country the largest source of Cambodia’s overall trade imbalance. Cambodia’s export coverage of Chinese imports stood at only 8.8 percent, underscoring the significant difference between the value of goods Cambodia sells to China and the value of goods it purchases from the country.

The US Delivers Cambodia’s Largest Trade Surplus

While China led Cambodia’s trade by volume, the United States remained the Kingdom’s most important surplus market. Trade between Cambodia and the US rose 32.2 percent to $9.42 billion during the first seven months.

Exports to the US jumped 30.6 percent to $9.05 billion, supported by strong shipments of garments, footwear and other manufactured products. At the same time, imports from the US more than doubled, increasing 87 percent to $377 million.

Despite the sharp rise in American imports, the overall value remained relatively small compared with Cambodia’s exports to the US. As a result, Cambodia recorded a bilateral trade surplus of $8.67 billion with the United States.

The export coverage ratio declined from 3,436 percent to 2,400 percent, but the US remained Cambodia’s largest single country source of trade surplus and an important contributor to foreign exchange earnings.

Trade With Vietnam Turns Positive

Vietnam also recorded notable changes in its trade relationship with Cambodia. Bilateral trade increased 8.2 percent to $5.35 billion during the first seven months of 2026.

Cambodian exports to Vietnam rose 12.4 percent to $2.73 billion, while imports from Vietnam increased at a slower pace of 4.2 percent to $2.62 billion. This helped Cambodia move from a trade deficit with Vietnam to a modest surplus.

Cambodia recorded a $112 million trade surplus with Vietnam, reversing the $84 million deficit recorded during the same period in 2025. The export coverage ratio also improved from 96.6 percent to 104.3 percent, suggesting that the bilateral trade relationship has become more balanced.

Three Markets Shape Cambodia’s Trade Outlook

The latest figures show that Cambodia’s trade expansion is being heavily influenced by China, the United States and Vietnam. Together, these three markets accounted for more than half of the Kingdom’s total trade during the first seven months of 2026.

The strong growth in exports and imports points to increasing commercial activity, but the wider national trade deficit also highlights the importance of maintaining a healthy balance between overseas sales and purchases. Cambodia’s large deficit with China remains a major factor, while the substantial surplus with the US and the newly positive balance with Vietnam provide important offsets.

As a result, any changes in consumer demand, investment flows, tariffs or trade policies in these three markets could have a significant impact on Cambodia’s trade performance during the remainder of the year.

US Cambodia Trade Ties Are Growing

Chea Chandara, President of the Logistics Supply Chain and Brokers Business Association in Cambodia, told Khmer Times that Cambodia’s economic relationship with the United States has strengthened significantly under the second term of US President Donald Trump.

He noted that the United States Trade Representative recently imposed a 10 percent tariff on Cambodian goods entering the US market under Section 301. “This rate is more competitive than the 12.5 percent applied to neighbouring countries such as Thailand and Vietnam.”

According to Chandara, Cambodia has also reduced import duties on a range of American products, with some commodities now subject to zero tariffs. These changes have encouraged traders to bring more American products into Cambodia, contributing to a reported 60 to 80 percent increase in imports from the US since the beginning of the year.

More American Products Are Entering Cambodia

Chandara said Cambodia’s imports from the United States were previously concentrated in a relatively small number of product categories, particularly vehicles. The range of American goods available in the Cambodian market has since expanded.

This growth in imports reflects stronger two way commercial activity between the two countries. Although Cambodia continues to record a very large surplus with the US, the increase in American products entering the local market suggests that trade ties are becoming broader rather than being driven almost entirely by Cambodian exports.

The development could also create more opportunities for Cambodian businesses and consumers to access products from the US, while providing American companies with greater exposure to the Cambodian market.

Chinese Investment Also Supports Export Growth

The relationship between Cambodia’s trade with the US and Chinese investment is another important part of the picture, according to Chandara. “Chinese investors dominate the country’s investment landscape, with the majority of projects concentrated in the industrial sector.”

He explained that Cambodia’s relatively small domestic market means many of these investments are primarily focused on producing and processing goods for export. The United States and European markets offer opportunities for manufacturers to reach larger consumer bases and potentially achieve higher returns.

This means Chinese investment in Cambodia’s industrial sector can also contribute indirectly to the Kingdom’s export performance, particularly when factories established in Cambodia produce goods destined for major Western markets.

Thailand Border Closure Creates New Market Opportunities

Changes in regional trade conditions are also affecting Cambodia’s domestic market. Chandara said the ongoing land border closure with Thailand has created additional opportunities for products from other major trading partners.

“With Thai products, which long dominated the Cambodian market, less available, both US and Chinese goods have gained greater access to local consumers, further supporting the rise in two-way trade,” he said.

The situation illustrates how regional supply disruptions can quickly influence Cambodia’s import patterns. With Thai goods less available through traditional land border channels, businesses and consumers have increasingly turned to products from other markets.

What Does the $44 Billion Trade Figure Mean for Cambodia?

Cambodia’s $44.07 billion trade volume in the first seven months of 2026 reflects strong momentum in both exports and imports. China remains the Kingdom’s largest trading partner by volume, while the United States stands out as the largest source of bilateral trade surplus. Vietnam, meanwhile, has moved into a modest surplus position for Cambodia.

The numbers also reveal an important challenge. Cambodia’s expanding trade activity is accompanied by a growing overall deficit, driven largely by the huge imbalance with China. At the same time, strong exports to the US and improving trade with Vietnam are helping offset part of that gap.

For businesses, investors and policymakers, the figures point to a Cambodian economy becoming increasingly connected to major global and regional markets. How Cambodia manages these relationships, strengthens domestic production and expands export opportunities will be important for maintaining sustainable trade growth in the months ahead.

Conclusion

Cambodia’s trade reached more than $44 billion in just seven months, demonstrating the continued expansion of the Kingdom’s international commerce. China remains number one by total trade volume, but the United States remains Cambodia’s strongest surplus market. Meanwhile, Vietnam’s shift from a trade deficit to a surplus adds another positive development.

The challenge now is to turn growing trade volumes into stronger and more balanced economic growth. As Cambodia deepens its links with China, the US, Vietnam and other international markets, investment, manufacturing and export diversification will remain key factors in determining how the Kingdom’s trade story develops through the rest of 2026.

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