Cambodia Expected to Generate $10M from Carbon Credit Sales

Cambodia is set to generate an estimated $10 million from selling carbon credits through forest conservation projects like the Southern Cardamom REDD+ Project (SCRP). But what exactly is a carbon credit, and how does it impact the local community?

What is Carbon Credit?

A carbon credit is a permit that allows a country or organization to emit a specific amount of carbon dioxide (CO2) or other greenhouse gases. Each credit typically represents one tonne of CO2 or the equivalent amount of another greenhouse gas. When countries or companies reduce emissions, they can earn these credits and sell them to entities that need to offset their emissions.

Where Can Carbon Credits Be Generated, and How Many Tonnes Per Year?

Carbon credits are often generated through projects that reduce emissions or capture carbon, such as forest conservation, renewable energy initiatives, or improved land management practices. In Cambodia, the Southern Cardamom REDD+ Project covers 465,839 hectares and is expected to reduce carbon emissions by 3.86 million tonnes of CO2 equivalent (tCO2e) per year. Other projects like Keo Seima in Mondulkiri and Tumring in Kampong Thom contribute further reductions of 1.42 million and 378,434 tonnes, respectively, adding to the country’s overall environmental impact.

How Can It Support Local Communities?

The revenue generated from carbon credit sales plays a crucial role in supporting local communities. For example, the Southern Cardamom REDD+ Project, managed by Wildlife Alliance, has led to significant improvements in the lives of indigenous and local communities. It has provided access to clean water for 27,000 people, enhanced healthcare for over 2,000, and improved education opportunities for 10,000 individuals. These initiatives are made possible through funds generated by selling carbon credits, with over $2 million invested in community development in 2023 alone. The project also supports sustainable livelihoods, offering long-term benefits beyond just environmental protection.

Your Thoughts

We’d love to hear your knowledge about Carbon Credit or your thoughts on how carbon credit initiatives can drive both environmental and community growth in the country. Share your opinions in the comments below!

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South Korean visitors to Cambodia can now make digital payments by scanning QR codes, thanks to a new cross-border payment agreement between the National Bank of Cambodia (NBC) and Jeonbuk Bank.

In an era where digital payments are swiftly replacing cash transactions, the world is becoming increasingly connected through technology. One significant stride in this direction is the recent cross-border payment agreement between the National Bank of Cambodia (NBC) and South Korea’s Jeonbuk Bank. This partnership opens up new possibilities for South Korean tourists visiting Cambodia, enabling them to make digital payments using QR codes. As part of this initiative, Cambodia’s digital payment landscape is rapidly evolving, with the Bakong app at the forefront. This article delves into the implications of this agreement, the history and development of the Bakong app, and how it enhances convenience for both tourists and residents alike.

The Cross-Border Payment Agreement: A New Era of Convenience

On August 29, 2024, a groundbreaking cross-border payment agreement was signed between the NBC and Jeonbuk Bank, marking a significant milestone in the financial relationship between Cambodia and South Korea. This agreement allows Korean tourists to make payments in Cambodia using digital QR codes, particularly through the Jeonbuk Bank mobile application. The convenience offered by this system is expected to boost tourism, trade, and overall financial inclusion in both countries.

Chea Serey, the Governor of NBC, highlighted the potential of this collaboration to elevate financial cooperation between Cambodia and South Korea. By leveraging technology, the initiative aims to benefit citizens and visitors of both nations. The introduction of cross-border QR code payments is not only a testament to Cambodia’s commitment to advancing financial digitalization but also a significant step towards promoting the use of the Cambodian riel (KHR) within the country.

Bakong App: A Revolutionary Digital Payment Platform

At the heart of Cambodia’s digital payment revolution is the Bakong app, a mobile payment platform launched by the NBC. Named after the ancient Bakong temple, one of the oldest temples in Cambodia, the app is a symbol of the country’s rich cultural heritage and its modern aspirations.

The Genesis of Bakong

The development of the Bakong app began as a response to the growing need for a unified and inclusive digital payment system in Cambodia. Launched in October 2020, Bakong was envisioned as a central component of Cambodia’s financial infrastructure, designed to facilitate real-time payments and promote financial inclusion. Unlike traditional banking systems, Bakong operates on a blockchain-based platform, making it more secure, transparent, and efficient.

One of the primary goals of Bakong was to create a cashless society by providing a digital wallet that could be easily accessed by all Cambodians, regardless of their socio-economic status. The app allows users to make payments, transfer money, and even store their funds digitally, thereby reducing the reliance on cash transactions. Over the years, Bakong has evolved into a comprehensive payment solution that integrates various financial services under one platform.

Development and Expansion

Since its inception, Bakong has seen significant growth and adoption across Cambodia. As of 2024, the app has garnered over 8 million users, with a substantial portion of the population relying on it for their daily transactions. The NBC has continuously worked on expanding Bakong’s capabilities, integrating it with other financial institutions, and forging partnerships with neighboring countries to enable cross-border payments.

One of the key developments in Bakong’s journey has been its integration with international payment systems. Cambodia has successfully launched cross-border QR payment projects with Thailand, Vietnam, Laos, and China. These partnerships have allowed Cambodian residents to use their local digital wallets while traveling in these countries, further enhancing the convenience of the Bakong app.

Bakong Tourist App: Enhancing the Experience for International Visitors

Recognizing the importance of tourism to Cambodia’s economy, the NBC introduced the Bakong Tourist app, a tailored version of the original Bakong platform, designed specifically for international visitors. This app simplifies the payment process for tourists, allowing them to download the app, register, and top up their accounts through Bakong’s business partners.

The Bakong Tourist app is particularly beneficial for Korean tourists, who can now use the Jeonbuk Bank mobile app to make payments in Cambodia via QR codes. This seamless integration ensures that tourists can enjoy a hassle-free payment experience during their stay, without the need to carry large amounts of cash or worry about currency exchange rates.

The Impact on Tourism and Financial Inclusion

The introduction of cross-border QR code payments and the Bakong Tourist app is expected to have a profound impact on Cambodia’s tourism industry. South Korea has long been one of the top sources of tourists to Cambodia, with visitors attracted to the Kingdom’s rich cultural heritage, beautiful landscapes, and historical sites such as Angkor Wat. The ability to make digital payments effortlessly will likely encourage more South Korean tourists to visit, boosting the local economy.

Moreover, the promotion of digital payments aligns with Cambodia’s broader goal of financial inclusion. By making digital payment options accessible to everyone, including tourists, Cambodia is paving the way for a more inclusive financial system. This move not only benefits the tourism industry but also contributes to the overall economic stability of the country.

A Step Forward in Cambodia-South Korea Financial Cooperation

The collaboration between NBC and Jeonbuk Bank is more than just a financial agreement; it represents a deepening of economic ties between Cambodia and South Korea. By facilitating cross-border digital payments, the two countries are setting the stage for increased trade, investment, and tourism. The successful implementation of this project could serve as a model for other nations looking to enhance their financial cooperation through technology.

Looking Ahead: Future Prospects

As Cambodia continues to develop its digital economy, the future looks promising for the Bakong app and its users. The NBC has already expressed its intentions to expand cross-border payment projects to other countries, further integrating Cambodia into the global digital economy. For Cambodian residents, this means greater convenience when traveling abroad, while for tourists, it means a more seamless and enjoyable experience when visiting the Kingdom.

The potential for further innovation in the digital payment space is immense. As more countries adopt similar systems, we could see the emergence of a truly global digital payment network, where transactions are made effortlessly across borders, without the need for traditional banking intermediaries.

Join the Conversation

The introduction of cross-border QR payments between South Korea and Cambodia, facilitated by the Bakong app and Jeonbuk Bank, marks a significant milestone in the digital transformation of Cambodia’s financial landscape. As we look to the future, the question arises: How will this innovation shape the tourism industry and the broader economy in the years to come?

We invite you to share your thoughts and experiences. Have you used the Bakong app or other digital payment platforms while traveling? How do you think this new cross-border payment system will impact tourism in Cambodia? Join the conversation in the comments below and let us know your views!

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Young Workforce Will Fuel Cambodia’s Rapid Growth for the Next 20 Years

Cambodia stands at the precipice of an economic transformation driven by its demographic advantage: a young and vibrant workforce. With over 60% of its 16 million people under the age of 35, Cambodia’s youthful population is poised to propel the nation into sustained economic growth for the next two decades. This demographic boon, coupled with strategic initiatives in education, training, and industrial development, positions Cambodia as a potential powerhouse in Southeast Asia. This article explores how this young workforce will fuel Cambodia’s rapid growth and why this presents a unique opportunity for the country.

Cambodia’s Demographic Advantage

Cambodia’s demographic structure offers a substantial economic advantage. According to the Mekong Strategic Partners, the nation’s young population is the largest in the region, which can ensure another 20 years or more of rapid economic growth. Unlike its regional counterparts like Vietnam, Thailand, and China, which are experiencing a slowdown in their working-age populations, Cambodia’s young population is set to increase by 24% between 2021 and 2050. This demographic dividend is a significant opportunity for the country to leverage its human resources for sustained economic growth.

The Power of a Young and Active Workforce

Cambodia’s labor force participation rate is around 80%, reflecting a robust engagement of its young population in various sectors. This high participation rate is indicative of an active workforce that is crucial for the country’s economic development. The workforce’s youthfulness allows for adaptability and a greater capacity to learn and innovate, vital traits in a rapidly changing global economy.

Read more: What Is Cambodia’s New Debt Management Strategy?

Furthermore, the literacy rate in Cambodia has been growing rapidly, reaching almost 90% in 2019. This increase in literacy is a positive indicator of the nation’s potential for skilled labor development. Since 2008, employment rates have steadily increased, supported by growth in various industries, demonstrating the capacity of Cambodia’s young workforce to contribute effectively to economic activities.

A Young Workforce as a Magnet for Investors

The abundance of a young labor force makes Cambodia an attractive destination for investors, especially in labor-intensive industries. With a majority of its population under the age of 35, Cambodia offers a dynamic and youthful workforce capable of meeting the demands of manufacturing, construction, and service sectors. As Lim Heng, Vice President of the Cambodia Chamber of Commerce, emphasized, human resources are pivotal for economic growth. He notes that there is guidance from leaders to increase the country’s population to between 20 and 30 million to harness more resources, indicating a strategic focus on leveraging human capital for development.

Challenges and Opportunities in Skills Development

Despite the demographic advantages, Cambodia faces challenges in maximizing its young workforce’s potential. The Asian Development Bank (ADB) reports that only 10.7% of Cambodians are engaged in medium- and higher-level technical occupations, reflecting a skills gap that needs to be addressed. Many industries and service sectors currently rely on foreign experts to fill technical positions, highlighting the need for more comprehensive skills training for the local workforce.

Read more: What’s the Maximum Payment with Bakong Tourists App?

The government has recognized this gap and is taking steps to address it. Prime Minister Hun Manet launched a national vocational training program in November 2023, targeting 1.5 million young people from poor and vulnerable families. This initiative aims to provide at least one life skill to young individuals, thereby equipping them with the necessary tools to thrive in the job market. Such programs are crucial for developing a skilled workforce that can meet the demands of both local and international markets.

Enhancing Productivity Through Education and Training

The current labor productivity in Cambodia, measured at $3.6 per hour, is lower than that of several neighboring countries like Vietnam ($7.3) and Indonesia ($13.1). This productivity gap is largely due to inadequate skills education, which hinders the workforce’s ability to perform at higher levels. Addressing this gap through targeted education and training programs is essential for boosting productivity and, consequently, economic growth.

The government’s focus on skills development is a step in the right direction. By enhancing the skill set of its young workforce, Cambodia can increase its labor productivity and competitiveness in the global market. This not only benefits the economy but also improves the quality of life for workers, leading to a more prosperous society overall.

The Role of Women in Cambodia’s Economic Growth

An essential aspect of leveraging Cambodia’s young workforce is recognizing the role of women in economic growth. Women make up a significant portion of Cambodia’s labor force, particularly in the garment and textile industries. By promoting gender equality and providing equal opportunities for women in education and employment, Cambodia can further enhance its economic potential.

Investing in women’s education and vocational training is crucial for their empowerment and the overall economic development of the country. Women’s participation in the workforce contributes to economic diversity and stability, which are essential for sustained growth.

Preparing for a Changing Economic Landscape

As Cambodia’s young workforce continues to grow, the country must prepare for the inevitable demographic shifts that will occur over the next few decades. By 2050, there will be a billion retirees globally, primarily in China and India, creating a substantial market for tourism, aged care, and retirement services. Cambodia has the potential to tap into this market by developing local, institutional investments that can boost capital markets and lead to significant capital deepening.

The growth of Cambodia’s capital markets will be crucial for supporting long-term economic development. By attracting foreign investment and encouraging local investment, Cambodia can build a more resilient economy capable of withstanding global economic fluctuations.

Cambodia as a Manufacturing Hub

The young workforce also positions Cambodia as an emerging manufacturing hub in Southeast Asia. With the right investments in infrastructure and technology, Cambodia can attract multinational companies looking to relocate their manufacturing bases. The country’s strategic location, coupled with its young and active workforce, makes it an ideal destination for industries such as electronics, automotive, and textiles.

Read more: Why Establish a Special Economic Zone (SEZ) in Bati District, Takeo Province?

Moreover, as global supply chains continue to evolve, Cambodia has the opportunity to integrate itself further into regional and global trade networks. By enhancing its manufacturing capabilities and focusing on higher-value production, Cambodia can move up the value chain and increase its export earnings.

The Need for Strategic Policy Interventions

To fully capitalize on its demographic advantage, Cambodia must implement strategic policy interventions that support workforce development, education, and training. These policies should focus on improving access to quality education, expanding vocational training programs, and promoting entrepreneurship among the youth. Additionally, policies that foster a conducive business environment, encourage foreign investment, and support the growth of small and medium-sized enterprises (SMEs) will be crucial for sustainable economic growth.

Cambodia’s demographic advantage presents a unique opportunity for the country to achieve sustained economic growth over the next 20 years. By investing in its young workforce through education, training, and skills development, Cambodia can enhance its competitiveness and attract more investment. However, this growth will require strategic planning, policy interventions, and a focus on building a resilient economy that can adapt to global changes. As Cambodia continues to develop, it will be essential to harness the potential of its young workforce to drive economic prosperity.

What do you think about Cambodia’s demographic advantage and its potential to fuel economic growth? Share your thoughts in the comments below

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Cambodia Aims to Balance Debt and Development in New Strategy

In a bid to ensure sustainable economic growth while managing its financial obligations, the Cambodian government has unveiled a new Public Debt Management Strategy for 2024-2028. This strategic approach aims to strike a balance between borrowing responsibly and supporting Cambodia’s economic development goals, reflecting a proactive effort to safeguard the nation’s financial future.

Context and Motivation for the New Strategy

As of the first quarter of 2024, Cambodia’s total public debt stood at $11.09 billion, with projections indicating that this figure could reach $12 billion by the end of the year. The government’s motivation behind the new debt management strategy is twofold: firstly, to maintain sustainable and responsible borrowing practices; and secondly, to align these practices with the country’s ambitious economic targets of achieving upper-middle-income status by 2030 and high-income status by 2050.

Read more: What Are the Key Challenges to Blockchain Adoption in Cambodia?

This strategy is seen as a necessary step given the current global economic uncertainties and Cambodia’s development aspirations. It seeks to address concerns about debt sustainability while ensuring that the country continues to attract the necessary investment to support its growth trajectory.

Key Features of the Public Debt Management Strategy

The Public Debt Management Strategy, published on August 26, 2024, is a comprehensive document outlining all public debt operations, including lending, state guarantees, and debt risk management. Here are some of the strategy’s key features:

1. Annual Borrowing Limits and Ceilings: The strategy sets an annual borrowing limit between 1.7 billion and 2 billion Special Drawing Rights (SDRs). An SDR is an international reserve asset created by the International Monetary Fund (IMF), valued based on a basket of five major currencies. While Cambodia could potentially increase its borrowing to 2.5 billion SDRs annually, the government has set a cumulative borrowing ceiling of 10 billion SDRs over the five-year period. This cap, translating to about $13.5 billion USD, aims to prevent excessive borrowing and manage the debt burden effectively.
2. Issuance of State Securities: Cambodia issues between 500 billion and 1 trillion riel ($123 million to $246 million) in state securities annually. Although the figure could rise to 1.2 trillion riel ($295 million) per year, a cumulative ceiling of 4 trillion riel ($984 million) over five years has been established. This measure is designed to ensure that the government’s borrowing from domestic sources remains within sustainable limits.
3. Cap on Payment Guarantees: To avoid unsustainable financial obligations, the government has capped payment guarantees for new projects at 10 percent of the previous year’s national budget revenue. Furthermore, the state has discontinued direct credit and loan guarantees to the private sector, thereby reducing fiscal risks associated with contingent liabilities.
4. Maintaining Debt-to-GDP Ratio: The strategy emphasizes keeping the public debt-to-GDP ratio below 55 percent, a threshold that is crucial for maintaining financial stability and investor confidence. With the current foreign public debt relative to GDP below 40 percent, the government aims to keep this ratio low to prevent economic instability.
5. Debt Composition and Interest Rate Management: At least 90 percent of the public debt inventory is mandated to be composed of fixed-interest rate debt components. This approach minimizes exposure to interest rate fluctuations and helps maintain stable debt servicing costs, providing a buffer against external economic shocks.

Advantages of the New Strategy

The new debt management strategy offers several advantages for Cambodia’s economic development:

1. Promotes Sustainable Economic Growth: By setting clear borrowing limits and ensuring responsible debt management, the strategy promotes sustainable economic growth. It allows for the financing of critical infrastructure and development projects without jeopardizing fiscal health, aligning with the government’s long-term economic goals.
2. Enhances Fiscal Stability: With measures in place to cap borrowing and limit exposure to interest rate fluctuations, the strategy enhances fiscal stability. This stability is essential for attracting foreign investment and maintaining confidence in Cambodia’s economic policies.
3. Reduces Financial Risks: The strategy’s focus on fixed-interest rate debt and discontinuing risky credit guarantees to the private sector helps reduce financial risks. This risk management approach protects the economy from unforeseen financial crises and external economic shocks.
4. Improves Debt Transparency and Accountability: By clearly outlining borrowing limits, debt composition, and management practices, the strategy improves transparency and accountability in public financial management. This openness is likely to enhance trust among international financial institutions and development partners, potentially leading to better financing terms and more robust economic support.
5. Supports Development Goals: The strategy aligns with Cambodia’s vision of becoming an upper-middle-income country by 2030 and a high-income country by 2050. By ensuring that debt remains within manageable limits, the government can channel resources into sectors that drive economic growth, such as infrastructure, education, and healthcare.
6. Encourages Responsible Borrowing Practices: The strategy encourages responsible borrowing by setting clear guidelines on borrowing limits and conditions. This disciplined approach ensures that borrowed funds are used efficiently and effectively, contributing to the country’s development without compromising fiscal health.

Challenges and Considerations

While the new strategy offers numerous advantages, there are also challenges and considerations that need to be addressed to ensure its success:

1. Global Economic Uncertainty: The global economic landscape remains unpredictable, with potential impacts from geopolitical tensions, fluctuating commodity prices, and changes in international trade policies. These factors could affect Cambodia’s economic performance and its ability to manage debt sustainably.
2. Need for Robust Institutional Capacity: Effective implementation of the strategy requires strong institutional capacity. This includes a robust legal framework, effective policies, and a reliable information technology system. The government must ensure that these components are in place and functioning effectively to manage public debt responsibly.
3. Continued Vigilance Required: Despite the relatively low debt-to-GDP ratio, continued vigilance is required to monitor and manage debt levels. This includes regularly assessing debt sustainability, reviewing borrowing practices, and making adjustments as needed to respond to changing economic conditions.
4. Balancing Development Needs with Debt Sustainability: While the strategy aims to balance development needs with debt sustainability, there is always a risk that unforeseen circumstances could necessitate additional borrowing. The government must remain flexible and adaptable in its approach to managing public debt, ensuring that it can respond effectively to changing circumstances without compromising fiscal health.

Cambodia’s new Public Debt Management Strategy for 2024-2028 represents a forward-looking approach to managing the country’s financial obligations while supporting its development ambitions. By setting clear borrowing limits, capping payment guarantees, and focusing on debt sustainability, the strategy aims to ensure that Cambodia can continue to grow and develop without compromising its financial stability.

Read more: What Factors Make Investors Confident in Cambodia’s Economy?

As Cambodia strives to achieve its economic goals, the new strategy provides a roadmap for responsible borrowing and effective debt management. It underscores the importance of balancing debt and development to ensure long-term economic prosperity.

What are your thoughts on Cambodia’s new debt management strategy? Do you think it will successfully balance debt and development? Share your views in the comments below!

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In Cambodia, the trend of maintaining multiple bank accounts is more prevalent than ever before. On average, each Cambodian adult holds between 2 to 3 bank accounts. Data from the National Bank of Cambodia (NBC) reveals that for the first half of 2024, the Kingdom had 21.3 million deposit accounts, despite having only 9.8 million adults. This results in an average of 2.3 bank accounts per adult, highlighting a significant rise from previous years.

This increase in bank accounts raises an important question: Why do Cambodians have so many bank accounts? To understand this trend, we need to delve into several contributing factors, including historical practices, financial strategies, and the increasing digitization of financial services in Cambodia.

The Evolution of Banking in Cambodia: A Historical Perspective

Historically, inter-banking charges played a major role in the proliferation of bank accounts among Cambodians. Before the introduction of the Bakong system in 2016, transferring money between different banks was expensive due to high transaction fees. To avoid these fees, many Cambodians would open accounts with multiple banks, often aligning their accounts with those used by their families or spouses. This practice ensured cheaper fund transfers within the same bank network, leading to households typically maintaining 3-5 bank accounts.

While the introduction of the Bakong system—a blockchain-based interbank payment system—has reduced the need for multiple accounts due to its lower transaction fees, the habit of having multiple accounts has persisted for several reasons.

The Role of Loans and Credit in Multiple Bank Accounts

Another significant factor contributing to the high number of bank accounts in Cambodia is the management of loans and credit. According to a study by the Cambodia Microfinance Association (CMA) and M-CRIL, about 87 percent of borrowers have one to two loans, and a small but notable group even holds four or more loans. These loans often come from different financial institutions, including microfinance institutions (MFIs) and traditional banks. To manage these different loans efficiently, many Cambodians find it necessary to maintain multiple bank accounts, each tied to a specific loan or credit line.

This strategy allows them to manage their debts more effectively, keeping track of repayments and interest rates while maintaining a clear separation between different financial obligations.

Access to Financial Services and Gender Dynamics

The expansion of financial services across Cambodia has also contributed to the increase in the number of bank accounts. A substantial 48 percent of adult borrowers in Cambodia have access to at least one formal financial service, such as a savings account, credit, or microinsurance. Moreover, 67 percent of adults in Cambodia use some form of formal financial service, according to a report by the United Nations Capital Development Fund (UNCDF).

Interestingly, there are also gender dynamics at play. The data suggests that a larger proportion of women have access to financial services compared to men (51 percent vs. 45 percent). Women in Cambodia are often more inclined to save and manage daily financial transactions, while men are typically more confident in making borrowing decisions and managing deposit accounts with financial institutions. This discrepancy may partly explain why women are more likely to hold multiple accounts to manage different aspects of their financial lives effectively.

The Digital Banking Boom and Mobile Connectivity

The rapid growth of mobile banking has further fueled the rise in the number of bank accounts. In 2023, mobile banking transactions in Cambodia increased by 11 percent, reaching 746.7 trillion riels ($164 billion), up from 672.4 trillion riels ($183 billion) in 2022. This growth can be attributed to the widespread use of mobile phones in Cambodia. According to Digital 2023 Cambodia, there were 22.16 million active mobile connections in Cambodia in the first quarter of 2023, which is 131.5 percent of the total population. This suggests that, on average, each adult in Cambodia owns more than two mobile connections.

With mobile penetration rates exceeding 100 percent, digital banking has become a vital component of daily life for many Cambodians. The ease of managing finances through mobile apps and the growing trust in digital transactions have encouraged many to open multiple bank accounts to take full advantage of these digital services.

The Role of Financial Literacy and Digital Awareness

NBC, along with the Association of Banks in Cambodia (ABC), has played an active role in promoting financial literacy and encouraging the use of digital banking services, including the Bakong system. These initiatives have not only improved access to banking services but also fostered a culture where owning multiple bank accounts is seen as a practical financial strategy.

A Reflection on Financial Behavior in Cambodia

The reasons behind the high number of bank accounts in Cambodia are diverse and multifaceted. From historical practices aimed at avoiding inter-banking fees to strategic financial management of loans and the surge in digital banking, each factor has contributed to this trend. Additionally, gender dynamics and the widespread use of mobile phones have further shaped financial behaviors, leading to the proliferation of multiple bank accounts.

As Cambodia continues to develop its financial infrastructure and increase financial literacy among its population, it will be interesting to see how these trends evolve.

What are your thoughts? Do you use multiple bank accounts in Cambodia, and if so, why? Share your experiences and let us know how you manage your finances!

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