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Angkor Times
Angkor TimesExperienced
Asked: September 15, 2023In:

“Cross Border Payments, A Boon for Cambodians”. Here are some of the key points: The growth of digital payments in Cambodia has been significant in recent years, driven by the COVID-19 pandemic and the launch of the Bakong payment ...Read more

“Cross Border Payments, A Boon for Cambodians”. Here are some of the key points:

  • The growth of digital payments in Cambodia has been significant in recent years, driven by the COVID-19 pandemic and the launch of the Bakong payment app by the National Bank of Cambodia (NBC).
  • The Bakong app is a centralized payment system that allows users to make and receive payments, transfer money, and pay for goods and services. It is supported by 70 financial institutions in Cambodia.
  • The KHQR (Khmer riel Quick Response) payment system is a QR code-based payment system that is also supported by the Bakong app. It allows users to make payments by scanning QR codes at merchants.
  • The NBC has also built payment system infrastructures with Thailand, Malaysia, Laos, and Vietnam to facilitate more efficient cross-border payments.
  • These developments are expected to boost trade, investment, tourism, and remittances in Cambodia.

Here are some of the benefits of cross-border payments for Cambodians:

  • They can make and receive payments more easily and conveniently.
  • They can save on fees associated with traditional cross-border payments.
  • They can access a wider range of financial services.
  • They can participate more easily in the global economy.

The growth of cross-border payments is a positive development for Cambodia. It has the potential to boost the economy and improve the lives of people.

In addition to the points mentioned in the article, I would also add that cross-border payments can help to reduce poverty and inequality in Cambodia. By making it easier for people to send and receive money, cross-border payments can help to support families and businesses in rural areas. They can also help to connect people with opportunities in other countries.

How Cross-Border Payments Can Benefit Cambodians
How Cross-Border Payments Can Benefit Cambodians
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Bakong appBakong payment appcambodiacross-border paymentsdigital paymentseconomic developmentenhanced tourismenhanced trade and investmentfinancial inclusioninequalityinvestmentKHQRmigrant workerspovertyremittancestourismtrade
Angkor Times
Angkor TimesExperienced
Asked: September 15, 2023

The Pentagonal Strategy is a new development strategy for Cambodia, launched by the Royal Government of Cambodia on August 24, 2023. It aims to foster economic growth, job creation, equity, efficiency, and sustainability over the next 25 years. The strategy is ...Read more

The Pentagonal Strategy is a new development strategy for Cambodia, launched by the Royal Government of Cambodia on August 24, 2023. It aims to foster economic growth, job creation, equity, efficiency, and sustainability over the next 25 years.

Pentagonal Strategy Cambodia

Pentagonal Strategy Cambodia

The strategy is divided into five phases, each lasting five years. The first phase, which is currently in effect, focuses on building the foundation for Cambodia’s future development. This includes strengthening governance, investing in human capital, and developing the private sector.

The other four phases of the Pentagonal Strategy are:

  • Phase 2 (2028-2033): Accelerating growth and development
  • Phase 3 (2033-2038): Becoming an upper-middle-income country
  • Phase 4 (2038-2043): Becoming a high-income country
  • Phase 5 (2043-2048): Becoming a global hub for sustainable development

The Pentagonal Strategy is ambitious, but it is also realistic. It takes into account the challenges that Cambodia faces, such as poverty, inequality, and climate change. However, it also builds on Cambodia’s strengths, such as its young population, its strategic location, and its commitment to peace and development.

The Pentagonal Strategy is a major turning point for Cambodia. It is a sign that the country is serious about its future and that it is committed to becoming a prosperous and sustainable nation.

Here are the five key priorities of the Pentagonal Strategy:

  1. Build human capital: This includes investing in education, healthcare, and skills development.
  2. Diversify the economy and enhance competitiveness: This includes promoting exports, attracting foreign investment, and developing new industries.
  3. Develop the private sector and employment opportunities: This includes creating a favorable business environment and providing support to small and medium-sized enterprises.
  4. Promote resilience, sustainability, and inclusive development: This includes addressing climate change, protecting the environment, and reducing poverty and inequality.
  5. Strengthen the digital economy and society: This includes investing in information and communications technology, and promoting digital literacy and skills.

The Pentagonal Strategy is a comprehensive and ambitious plan for Cambodia’s future. It is a testament to the country’s commitment to peace, development, and prosperity.

Full Pentagonal Strategy: https://mfaic.gov.kh/files/uploads/1XK1LW4MCTK9/EN%20PENTAGONAL%20STRATEGY%20-%20PHASE%20I.pdf

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Angkor Times
Angkor TimesExperienced
Asked: October 4, 2022In:

Mr. Khun Kimsour is the owner of an egg chicken farm located in Popal Khe Village, Otaki Commune, Thmor Kol District, Battambang Province. The farm owner has been raising chickens for eggs since 2008, raising about 3 hectares of land ...Read more

Mr. Khun Kimsour is the owner of an egg chicken farm located in Popal Khe Village, Otaki Commune, Thmor Kol District, Battambang Province. The farm owner has been raising chickens for eggs since 2008, raising about 3 hectares of land and about 300 chickens. This initial start-up cost him about $ 1,500. This is according to the publication of the Department of Agriculture, Forestry and Fisheries of Battambang Province.

According to the same source, Kim Sour’s egg farm has been operating for 12 years so far. With the initial start-up, there were only a few trials, but the growth was quite profitable, so he continued to expand the business gradually until now, the farm in Battambang has expanded to 12 farms. Small and large on an area of ​​about 13 hectares.

Today, his farm has grown to 60,000 chickens and can supply between 40,000 and 50,000 eggs a day, he said.

Mr. Khun Kimsour also revealed that his income from the business of raising eggs, he can earn between $ 3,000 to $ 4,000 per day.

“Success so far does not mean that I have never had a problem, I have encountered a lot, because I originally raised chickens to sell meat for a while, then the market is not good and I decided to change. Come feed the chickens and get the eggs back. And raising chickens for eggs is not easy, it requires us to know the technique. However, no matter what the business, there are all the risks, it depends on whether we do it from the heart or follow our desires. If we do it out of true love, we will not give up, no matter how difficult it may be, and we will find every way to solve those problems. ” This is the words of Khun Kim Sour, the owner of a chicken farm that lays eggs.

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Angkor Times
Angkor TimesExperienced
Asked: August 11, 2022

To promote tourists to the Angkor Archaeological Park and encourage the development of tourism in its surrounding areas, on August 8, 2018, the Sub-Committee on Tourism Promotion and Attraction of the Siem Reap-Angkor Tourism Management and Development Commission, of which ...Read more

To promote tourists to the Angkor Archaeological Park and encourage the development of tourism in its surrounding areas, on August 8, 2018, the Sub-Committee on Tourism Promotion and Attraction of the Siem Reap-Angkor Tourism Management and Development Commission, of which Minister of Tourism Thong Khon chaired, presented various proposals for planning and developing tourism in the areas surrounding the Siem Reap. The “Angkor Lifetime Pass” – a single lifetime is introduced to make the foreign travellers to visit Angkor Archaeological Park and potentially other areas.

The lifetime pass could entitle you to get into select spots throughout the archaeological park. Currently, you need to make a separate reservation to go into museums in certain areas, with a single-day, three-day, and seven-day tickets for the main section You can reserve tickets to enter Angkor Wat, which currently costs $37, $62, and $72, respectively.

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Angkor Times
Angkor TimesExperienced
Asked: August 10, 2022

Early retirement (disability pension) is retirement before the age of 60. When members of NSSF of the Accident or serious illness that can not work and no income (other than occupational risk). Will get many benefits such as:(1). Receive a ...Read more

Early retirement (disability pension) is retirement before the age of 60. When members of NSSF of the Accident or serious illness that can not work and no income (other than occupational risk). Will get many benefits such as:
(1). Receive a monthly unpaid pension (twice a month)
(2). Can get extra caregiver with 50% of the down payment
(3). Receive treatment and health care in the partner hospital Free of charge
(4). Receive cremation allowances and pensions at the time of death.
»To receive an early retirement pension or early retirement (disability pension), the worker must meet the following conditions:

  • Registered pension section in the NSSF
  • Paid at least 60 months before the date of bankruptcy.

Various conditions apply !!!

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