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Angkor Times
Angkor TimesExperienced
Asked: February 13, 2024In:

Great news for convenience store enthusiasts in Cambodia! South Korea’s beloved EMart24 is going to open in the kingdom of Cambodia this June 2024, marking its first foray into the Southeast Asian nation. But why is EMart24 choosing to open ...Read more

Great news for convenience store enthusiasts in Cambodia! South Korea’s beloved EMart24 is going to open in the kingdom of Cambodia this June 2024, marking its first foray into the Southeast Asian nation. But why is EMart24 choosing to open its doors in Cambodia, and what benefits does this expansion bring? Let’s break it down:

EMart24 in Cambodia
EMart24 in Cambodia

Enhanced Convenience

With EMart24’s arrival, Cambodian customers can look forward to increased convenience with easy access to a wide range of products right in their neighborhoods.

Job Opportunities

The expansion will create job opportunities for locals, contributing to economic growth and development in Cambodia.

Diverse Product Selection

EMart24 is known for its diverse product offerings, catering to various tastes and preferences. Cambodian consumers can expect a plethora of options to choose from.

Quality Assurance

As a reputable brand, EMart24 upholds high standards of quality, ensuring that customers receive top-notch products and services.

Franchise Opportunities

The master franchise agreement not only allows EMart24 to expand its presence in Cambodia but also presents franchising opportunities for local entrepreneurs, fostering entrepreneurship and business development.

Cultural Exchange

The collaboration between EMart24 and Saihan Partners facilitates cultural exchange between South Korea and Cambodia, promoting mutual understanding and cooperation.

Community Engagement

EMart24’s commitment to collaborating closely with Saihan Partners demonstrates a dedication to understanding and meeting the needs of the Cambodian community, fostering positive relationships and engagement.

Overall, EMart24’s entry into Cambodia signifies not only a business expansion but also a commitment to serving the local community and contributing to Cambodia’s economic and social development. Get ready to experience a new level of convenience and quality with EMart24’s arrival!

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Angkor Times
Angkor TimesExperienced
Asked: February 2, 2024In:

When it comes to planning a trip abroad, safety is often a top concern for travelers. Cambodia, with its rich history, stunning landscapes, and vibrant culture, is a destination that beckons adventurers from around the globe. But amidst its allure, ...Read more

When it comes to planning a trip abroad, safety is often a top concern for travelers. Cambodia, with its rich history, stunning landscapes, and vibrant culture, is a destination that beckons adventurers from around the globe. But amidst its allure, one burning question prevails: How safe is Cambodia for travelers, especially in the present times?

Angkor Thom Gate, Cambodia
Angkor Thom Gate, Cambodia

Let’s delve into this inquiry with a comprehensive look at the safety factors shaping the current travel landscape in Cambodia.

1. Low Crime Rate

One of the primary reasons Cambodia remains a safe destination for travelers is its relatively low crime rate. While petty theft and scams targeting tourists can occur, violent crimes against visitors are rare. According to recent data from the United Nations Office on Drugs and Crime (UNODC), Cambodia’s crime rate remains lower than many other popular tourist destinations. UNODC Report

2. Enhanced Tourist Safety Measures

In recent years, the Cambodian government has taken proactive steps to enhance tourist safety. This includes increasing police presence in tourist areas, implementing tourist police units, and improving emergency response systems. These measures aim to provide travelers with a sense of security as they explore the country’s wonders.

3. Political Stability

Cambodia has experienced significant political stability in recent years, contributing to a safer environment for tourists. While political tensions may occasionally arise, they typically have minimal impact on travelers’ experiences. The government’s focus on promoting tourism as a key economic driver further underscores its commitment to ensuring the safety and well-being of visitors.

4. Growing Tourism Industry

In 2023, Cambodia experienced an extraordinary surge in tourism, with foreign tourist arrivals skyrocketing by 140 percent compared to the previous year, reaching a staggering 5.43 million visitors, as reported by the Ministry of Tourism. Leading the influx were travelers from Thailand, accounting for 1.82 million arrivals, followed by Vietnam, China, Laos, and the United States. The majority of these arrivals, totaling over 1.86 million, came through Cambodia’s three international airports, with the remainder entering via border gates and waterways. Top Sopheak, spokesperson for the Tourism Ministry, attributed this remarkable growth to the nation’s peace, stability, and improved infrastructure connectivity. The expansion of direct flights and the inauguration of a new airport in Siem Reap province further facilitated accessibility for tourists. Tourism, a vital pillar of Cambodia’s economy alongside garment exports, agriculture, and construction, is anticipated to continue its upward trajectory, with projections aiming for 7 million international visitors by 2025, surpassing pre-pandemic levels. Cambodia’s rich cultural heritage sites, including the renowned Angkor Archaeological Park, coupled with its pristine coastline, continue to attract travelers worldwide, fostering economic growth and prosperity.

5. Positive Traveler Experiences

Countless travel enthusiasts continue to share their positive experiences exploring Cambodia’s breathtaking temples, pristine beaches, and bustling markets. Online travel forums and review platforms abound with stories of memorable encounters and encounters, further affirming Cambodia’s status as a safe and rewarding destination for travelers.

Conclusion

In conclusion, Cambodia stands as a safe haven for adventurers seeking to immerse themselves in its rich tapestry of culture, history, and natural beauty. With its low crime rate, enhanced safety measures, political stability, growing tourism industry, and a plethora of positive traveler experiences, Cambodia offers a welcoming embrace to visitors from across the globe.

While it’s always prudent to exercise caution and remain vigilant while traveling, the overall safety outlook in Cambodia is promising. So pack your bags, embark on your journey, and let Cambodia’s wonders captivate your soul in the safest of ways.

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Angkor Times
Angkor TimesExperienced
Asked: February 2, 2024

Navigating Cambodia’s Digital Future: Insights from the Digital Future Forum In a bustling gathering at the Sofitel Phnom Penh Phokeethra, EuroCham recently hosted Cambodia’s inaugural Digital Future Forum. The event was a beacon for stakeholders’ eager to delve into the kingdom’s ...Read more

Navigating Cambodia’s Digital Future: Insights from the Digital Future Forum

In a bustling gathering at the Sofitel Phnom Penh Phokeethra, EuroCham recently hosted Cambodia’s inaugural Digital Future Forum. The event was a beacon for stakeholders’ eager to delve into the kingdom’s draft data protection law and other pivotal issues steering Cambodia’s digital journey forward.

As the nation strides towards a more digitized landscape and aims to integrate into the regional economy seamlessly, the importance of establishing a robust regulatory framework cannot be overstated. This sentiment echoed throughout the forum’s discussions.

Digital Future Forum Cambodia
Digital Future Forum Cambodia

Kong Phallack, Secretary of State at the Ministry of Post and Telecommunications, shed light on the government’s strides in digital regulation. With 12 new sub-decrees and two prakas in development, alongside three draft laws covering cybersecurity, personal data protection, and digital governance, Cambodia is gearing up for a transformative era.

Addressing attendees, Phallack emphasized the opportunities embedded within regulatory measures, urging businesses to view them as catalysts for innovation and investment. He envisioned Cambodia not just as a technology importer but also as a potential technology exporter in the coming decades.

Data protection emerged as a focal point of discussion, with Sebastian Ung of Asia Data Destruction Cambodia highlighting prevalent threats such as phishing attacks and malware infections. These not only jeopardize data security but also pose substantial risks to businesses, including loss of clientele, regulatory penalties, and legal ramifications.

Comparative insights into data protection laws across ASEAN countries provided attendees with a broader perspective. From Indonesia’s comprehensive Data Protection Law to Singapore’s stringent Personal Data Protection Act, each nation has adopted measures to safeguard personal information across public and private sectors.

In Cambodia, efforts towards enacting a Personal Data Protection law are underway, with existing legislation addressing data protection and privacy scattered across various statutes. However, the road ahead necessitates a concerted effort to establish a culture of transparency and trust, ensuring successful implementation and enforcement of data protection measures.

The Digital Future Forum served as a pivotal platform for stakeholders to navigate Cambodia’s evolving digital landscape, emphasizing the imperative of robust regulatory frameworks and proactive measures to safeguard data in an increasingly interconnected world. As Cambodia embraces its digital destiny, collaboration and innovation will be key drivers of progress on this transformative journey.

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Angkor Times
Angkor TimesExperienced
Asked: January 19, 2024In:

Cambodia attracted some 5.43 million international tourists in 2023, a sharp increase of 139 percent from 2.27 million in 2022, Ministry of Tourism pointed out in a report on Friday. Thailand topped the chart among the foreign arrivals to ...Read more

Cambodia attracted some 5.43 million international tourists in 2023, a sharp increase of 139 percent from 2.27 million in 2022, Ministry of Tourism pointed out in a report on Friday.

Thailand topped the chart among the foreign arrivals to the Kingdom with 1.82 million, followed by Vietnam (1.01 million), China (547,789), Laos (372,285) and the U.S. (184,780), the source underlined.

Cambodia Welcomes 5.4 Million Foreign Tourists in 2023
Cambodia Welcomes 5.4 Million Foreign Tourists in 2023

A total of 1.86 million foreign tourists arrived in Cambodia via the three international airports, while the rest entered the country through border gates and by waterway, it added.

Tourism is one of the four pillars supporting Cambodia’s economy, in addition to garment, footwear and travel goods export, agriculture, and construction and real estate.

According to the Ministry of Tourism, the number of international visitors to Cambodia is predicted to reach 7 million by 2025, surpassing the pre-COVID-19 pandemic level of 6.6 million in 2019.

Cambodia is well known for its world cultural heritage sites, namely the Angkor Archaeological Park in Siem Reap province, the Preah Vihear Temple and Koh Ker Temple in Preah Vihear province, and the Sambor Prei Kuk Archaeological Site in Kampong Thom province.

Bakong Template From Top View
Bakong Template From Top View

Besides, the Kingdom has a 450-kilometre-long pristine coastline stretching across four southwestern provinces of Preah Sihanouk, Kampot, Kep and Koh Kong.

Last year, the number of Cambodian outbound tourists increased by 87 percent to 1.81 million, stated the report.

AKP

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Angkor Times
Angkor TimesExperienced
Asked: January 17, 2024

Cambodia Emerges as Premier Hub for Digital Asset Trading In a groundbreaking development, Cambodia is poised to establish itself as a central hub for the buying and selling of digital assets, boasting a highly regulated, transparent, and secure trading environment. This ...Read more

Cambodia Emerges as Premier Hub for Digital Asset Trading

In a groundbreaking development, Cambodia is poised to establish itself as a central hub for the buying and selling of digital assets, boasting a highly regulated, transparent, and secure trading environment. This revelation comes from Thomas Schings, Senior Manager of the Royal Group, the entity overseeing the country’s inaugural digital assets exchange.

Thomas Schings, Senior Manager of the Royal Group and Dave Lee, founder of X-CODES and crypto guru in Phnom Penh
Thomas Schings (left), Senior Manager of the Royal Group and Dave Lee, founder of X-CODES and crypto guru in Phnom Penh. Both have maintained that it’s ‘not illegal to trade in cryptocurrencies’.

Speaking to Khmer Times on Monday, Schings, in the company of renowned crypto expert and X-CODES founder Dave Lee, highlighted the launch of the Royal Group Exchange (RGX) trading platform using blockchain technology. This event, held in the past week, signifies the initiation of a new era in Cambodia’s financial landscape.

The RGX platform, approved by the Securities and Exchange Regulator of Cambodia (SERC) under its Fintech Sandbox Scheme, ensures a secure and efficient arena for trading various digital assets. Notably, this move opens up exciting opportunities for individuals and businesses in Cambodia to actively participate in the global digital economy, with over 100 digital assets, including Bitcoin and Ethereum, available for trading.

Addressing previous concerns about the government’s stance on digital assets, Schings clarified that there was never a complete ban on crypto or digital assets in Cambodia. While banks are restricted from dealing with crypto-related businesses, individual trading and ownership of digital assets remain legal for Cambodians.

Emphasizing RGX’s commitment to regulatory compliance, Schings highlighted that the platform operates within the guidelines and rules issued by the SERC. He expressed gratitude to the SERC for fostering an environment that encourages companies to explore and experiment with new financial technologies.

Schings reassured potential investors about risk mitigation measures at RGX, including strict transaction monitoring, adherence to anti-money laundering (AML) laws, and limited leverage (25X) for Cambodian traders, aiming to minimize risks associated with digital asset trading.

Acknowledging the significant number of Cambodians already engaging in the global crypto space through platforms like Binance, Schings emphasized the importance of regulating the environment to protect users from scams and unregulated practices.

Looking ahead, Schings outlined plans to broaden RGX’s features, establish the RGX Academy for educating crypto investors, and collaborate with the National Bank of Cambodia (NBC) to formulate guidelines. Dave Lee, endorsing RGX as an ideal platform for Cambodian youth to explore crypto assets securely, dispelled misconceptions about digital assets, emphasizing their potential as a transparent and protective financial asset.

Here’re top 7 key factors that transform Cambodia to become hub of digital assets trade in the future:

Regulatory Approval and Compliance: Cambodia’s emergence as a hub for digital asset trading is significantly driven by regulatory approval and compliance. The Royal Group Exchange (RGX) has obtained approval from the Securities and Exchange Regulator of Cambodia (SERC) under its Fintech Sandbox Scheme, ensuring a highly regulated and compliant trading environment.

Secure and Transparent Environment: The RGX trading platform, powered by blockchain technology, provides a secure and transparent environment for the buying and selling of digital assets. This commitment to security is crucial in building trust among investors and users, fostering a reliable ecosystem.

Diverse Range of Tradable Assets: The RGX offers a diverse range of over 100 digital assets, including popular cryptocurrencies like Bitcoin and Ethereum. This diversity enhances the attractiveness of the platform, providing opportunities for individuals and businesses in Cambodia to participate in the global digital economy.

Educational Initiatives: The commitment to educating individuals interested in the crypto space is a key factor. RGX, regulated by the SERC, actively collaborates with regulatory authorities and the Ministry of Economy and Finance to ensure that users are well-informed about digital asset trading, thereby minimizing risks associated with speculation.

Limited Leverage and Risk Mitigation: To protect Cambodian investors, RGX has implemented risk mitigation measures such as limited leverage (25X), strict transaction monitoring, and adherence to anti-money laundering (AML) laws. These measures aim to minimize risks associated with digital asset trading, particularly for average Cambodian traders.

Government’s Open Stance: Clarifications from senior officials, such as Thomas Schings, regarding the government’s stance on digital assets contribute to a positive environment. The acknowledgment that trading and owning digital assets are not illegal for Cambodians, coupled with efforts to regulate rather than ban the space, fosters a conducive atmosphere for the growth of digital asset trading.

Strategic Partnerships and Technical Support: Collaborations with industry experts and technical partners, such as X-CODES, contribute to the growth and success of RGX. These partnerships bring technical expertise, contribute to the platform’s growth story, and position Cambodia as a favorable destination for digital asset trading.

In conclusion, the establishment of RGX marks a paradigm shift in Cambodia’s financial sector, providing a regulated and secure gateway for Cambodians to actively participate in the evolving world of digital asset trading.

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