Tensions unfolded outside the National Bank of Cambodia in Phnom Penh as around 200 creditors linked to Huione Pay Plc and H Pay Service Plc gathered in protest, blocking traffic for hours while demanding clarity on how to recover their funds, and in response the central bank stepped forward with a firm but structured message that aims to answer a key question many are asking, NBC clarifies claim process for Huione Pay and H Pay protesters by outlining two distinct legal pathways depending on the company involved.

Huione Pay case considered closed but legal options remain

For creditors of Huione Pay Plc, the central bank made its position clear that the company has already completed its liquidation process and settled its obligations following the revocation of its license, effectively marking the end of its regulatory and financial responsibilities under NBC oversight, and this closure was reinforced when the company was officially removed from the business registry of the Ministry of Commerce on June 19, 2025, meaning any new or unresolved claims fall outside the jurisdiction of the central bank, however NBC emphasized that this does not strip creditors of their rights, as they can still pursue legal action through Cambodia’s court system, positioning the judiciary as the only remaining channel for those seeking compensation tied to Huione Pay.

H Pay creditors directed to submit claims within strict deadline

In contrast, the situation for H Pay Service Plc remains active and procedural, with NBC confirming that the company’s license was revoked on March 20 and that a liquidation firm was officially appointed on April 10 to manage the process, creating a structured framework for creditors to follow, and as part of this effort the firm has called on all creditors to submit supporting documents within 30 days to a designated location in Sen Sok district, a step that is critical for verifying claims and ensuring that any remaining assets are distributed fairly and transparently, NBC stressed that full cooperation with the liquidation process is essential if creditors want their claims to be properly reviewed and considered.

Protest highlights urgency and frustration among creditors

Despite the central bank’s efforts to engage directly with representatives, including a meeting with 10 individuals claiming to speak on behalf of creditors from both companies, frustration on the ground remained visible as protesters continued their demonstration outside NBC headquarters, many of whom were reportedly foreign nationals, underscoring the urgency and financial pressure faced by those involved, and while NBC acknowledged these concerns it urged all parties to remain calm and resolve disputes through lawful and peaceful means rather than public disruption.

Conclusion

The situation ultimately draws a clear line between two paths for affected creditors, those linked to Huione Pay must now turn to the courts as the only avenue for redress, while H Pay creditors still have an opportunity to recover funds through an ongoing liquidation process that requires timely action and proper documentation, and as NBC clarifies claim process for Huione Pay and H Pay protesters, the message is straightforward, legal procedures, not protests, are the path forward for resolving these financial disputes.

Cambodia is taking another decisive step toward a more inclusive economy with the launch of a new National Financial Inclusion Strategy for 2026 to 2030, led by the National Bank of Cambodia in collaboration with the Asian Development Bank and the UN Capital Development Fund. Announced in Phnom Penh on April 23, the strategy signals a clear commitment to making financial services more accessible, practical, and resilient for people and businesses across the country, reinforcing Cambodia’s broader economic ambitions.

Building on Progress and National Priorities

Officials highlighted that this updated strategy is not starting from scratch but building on meaningful progress made in recent years. During a technical working group meeting, leaders emphasized that the new framework aligns closely with Cambodia’s long term development direction, including the government’s Pentagonal Strategy and its financial sector development roadmap for 2025 to 2030. Deputy Governor Yem Lat noted that the initiative reflects both continuity and ambition, aiming to deepen the impact of earlier reforms while adapting to new economic realities and opportunities.

Five Key Pillars to Drive Inclusion

At the heart of the strategy is a focused framework built around five priority areas designed to address gaps and unlock growth. These include advancing financial inclusion for women, expanding digital financial services, strengthening financial literacy and consumer protection, promoting sustainable finance, and ensuring better access for persons with disabilities. To turn these priorities into real outcomes, dedicated technical working groups will bring together government institutions, private sector players, non governmental organizations, and development partners in a coordinated effort.

Expanding Access for Growth and Resilience

The broader goal is clear: ensure that households and businesses can access the right financial tools to support their growth and stability. Cambodia has already seen encouraging results from its first financial inclusion strategy launched in 2019, which increased the use of formal financial services from 59 percent to 70 percent and helped narrow the gender gap. With this new phase, the central bank aims to build on that momentum, further strengthening financial inclusion while improving the overall financial well being of its citizens.

Conclusion

Cambodia’s new National Financial Inclusion Strategy represents a forward looking approach to economic development, one that prioritizes access, equity, and sustainability. By focusing on practical solutions and collaborative implementation, the country is positioning itself to create a more inclusive financial ecosystem that supports long term growth and resilience for all segments of society.

At a high level meeting led by Hun Manet, the Royal Government gathered senior officials at the Peace Palace in Phnom Penh to take a close look at several major policy priorities shaping the country’s economic direction.

The session brought together top leadership from across ministries to evaluate progress and refine strategies aimed at reinforcing economic resilience while keeping Cambodia on track toward long term development goals.

According to an official statement, the discussions centered on strengthening fiscal discipline, improving how public funds are invested, and expanding support systems for Cambodian workers returning from overseas.

Strengthening Public Finance for Long Term Growth

A major focus of the meeting was the Draft Medium Term Public Finance Framework for 2027 to 2029, a strategic roadmap designed to ensure that Cambodia’s financial management remains stable and forward looking.

The framework outlines how government spending and revenue policies can better align with national priorities while maintaining macroeconomic stability. It emphasizes smarter budget allocation, clearer fiscal rules, and a stronger link between public spending and development outcomes.

The broader ambition is to support sustained economic growth and guide Cambodia toward its long term vision of becoming a high income nation by 2050.

Improving Public Investment Efficiency

Another key agenda item was the Draft Three Year Public Investment Programme for 2027 to 2029, which serves as a rolling plan to track and manage high priority development projects across ministries. This framework is designed to ensure that infrastructure and public investment projects deliver maximum value and align closely with national strategies such as the Pentagon Strategy Phase One and the National Development Strategic Plan.

By improving oversight and coordination, the government aims to make public investment more efficient and impactful, while also feeding into the preparation of future national budgets, including the Draft Law on Finance Management 2026.

Supporting Returning Migrant Workers

The council also reviewed ongoing efforts to support Cambodian workers returning from Thailand, particularly in response to the surge in returns during border tensions in 2025. With nearly one million workers coming back home, the government has been working to ensure they can reintegrate smoothly into local communities.

Key measures include job placement support, access to social protection, and initiatives to stabilize livelihoods.

These efforts are led in part by the Ministry of Labour and Vocational Training, which has accelerated programs to match returning workers with domestic job opportunities and meet growing labor demand within the country.

Coordinated Governance and Policy Reform

The meeting highlighted a strong emphasis on coordination across government institutions, with participation from deputy prime ministers, senior ministers, and other high level officials. This collaborative approach reflects a broader commitment to effective governance, policy alignment, and reform implementation.

By bringing multiple stakeholders together, the government aims to ensure that policy decisions are cohesive and responsive to evolving economic and social conditions.

Expanding Focus to National Security and Humanitarian Goals

Beyond economic policy, the council also examined several important draft laws and national strategies. These included the Draft Law on Military Conscription, aimed at strengthening national defense capabilities and ensuring readiness to meet security challenges.

In addition, the Draft National Mine Action Policy for 2026 to 2035 was reviewed, reaffirming Cambodia’s ongoing commitment to clearing landmines and unexploded ordnance while supporting communities affected by decades of conflict.

Conclusion

The latest Council of Ministers meeting underscores Cambodia’s proactive approach to managing its economic future while addressing social and security priorities. By tightening public finance strategies, improving investment efficiency, and supporting vulnerable groups such as returning migrant workers, the government is laying the groundwork for more resilient and inclusive growth.

At the same time, continued attention to national defense and humanitarian efforts reflects a balanced strategy that goes beyond economics, positioning Cambodia for stable and sustainable progress in the years ahead.

During a sideline meeting on the opening day of the “2+2” strategic dialogue between Cambodia and China, Prime Minister Hun Manet reaffirmed the Kingdom’s long standing commitment to its relationship with China. Meeting with Wang Yi and Dong Jun in Peace Palace on April 22, he highlighted how ties between the two nations have reached a new level of depth and trust. Cambodia views this relationship as a foundation for continued cooperation and shared development in the years ahead.

Building a Community with a Shared Future

The discussions underscored a growing sense of unity between the two countries, with both sides recognizing the emergence of a Cambodia China community built on mutual interests. China described the relationship as strong and enduring, emphasizing that it reflects a shared vision for the future. The meeting also reinforced the idea that cooperation goes beyond diplomacy and extends into long term strategic alignment across multiple sectors.

Commitment to Core Principles and National Development

Hun Manet reiterated Cambodia’s firm adherence to the One China Principle while expressing appreciation for China’s ongoing support in advancing the country’s socio economic progress. He acknowledged the role China has played in improving livelihoods and contributing to national development. The Prime Minister also noted that both nations continue to strengthen their status as comprehensive strategic partners and iron clad friends, working together to build a closer and more integrated partnership.

Regional Stability and Peaceful Dialogue

In addition to bilateral ties, Hun Manet provided updates on the situation along the Cambodia Thailand border, reaffirming Cambodia’s commitment to resolving any issues peacefully. He emphasized that all efforts would be guided by international law and existing agreements between Cambodia and Thailand. This approach reflects Cambodia’s broader stance on maintaining regional stability through dialogue and cooperation rather than conflict.

Expanding Cooperation Across Key Sectors

Both sides explored opportunities to deepen collaboration across a wide range of sectors including politics, trade, investment, national defence, clean energy, infrastructure, and agriculture. They also discussed strengthening coordination within regional and international frameworks, signaling a shared ambition to play a more active role on the global stage. The “2+2” strategic dialogue itself marks a significant step in aligning foreign policy and defence priorities between the two countries.

From Agreements to Action

The foundation for this growing partnership was further strengthened following the visit of Xi Jinping to Cambodia in April 2025. During that visit, both countries signed 37 agreements and agreed to establish the “2+2” strategic dialogue mechanism. This framework now serves as a platform to translate commitments into concrete actions, ensuring that cooperation continues to deliver real benefits for both nations.

Conclusion

The latest meeting highlights how Cambodia and China are moving beyond traditional diplomacy toward a deeper, more strategic partnership. With strong political trust, expanding economic cooperation, and a shared vision for the future, both countries are positioning themselves for sustained collaboration. As the “2+2” dialogue evolves, it is likely to play a central role in shaping regional dynamics and strengthening Cambodia’s development trajectory.