Day: June 30, 2022

Minister of Culture and Fine Arts has spoken highly of the active contribution of the Cambodia International Film Festival (CIFF) to Cambodia cultural promotion.

The minister H.E. Mrs. Phoeurng Sackona expressed the appreciation in an opening ceremony of the 11th CIFF here in Phnom Penh on Tuesday.

CIFF plays a key role in implementing the national policy on culture, fostering national and international filmmaking in Cambodia, and profiling the country on international arena, she added.

Taking place from June 28 to July 3, the event is aimed not only to present diverse cultures and exchange ideas, but also to serve as a forum for young professional filmmakers to showcase their work.

Over 144 films from 26 countries, including short and feature films, documentaries and animations, will be screened at venues in Phnom Penh.

Of the films, 62 Cambodian movies including “Everything will be OK”, and “White Building”, and 20 Australia’s rare movies will also be screened to congratulate the 70th anniversary of Cambodia-Australia diplomatic relations.

It is organised by the Ministry of Culture and Fine Arts in cooperation with the Cambodia Film Commission and the Bophana Centre, in partnership with major film industry players, theatres, sponsors and filmmakers.

Source: Agency Kampuchea Press           

In its Consumer Payment Attitudes 2021 study, Visa highlights a rapidly changing payment landscape in Cambodia, with cash losing ground to digital alternatives, said Visa in a news release issued yesterday.

Fourteen percent of Southeast Asian consumers currently do not use cash and this trend is led by consumers in Cambodia (36 percent), it pointed out.

Going by broad categories, it continued, e-wallets and cards are predominant in the market. They are used by around 4 out of 10 Cambodians today and 14 percent of the population have both e-wallets and cards. QR payment and card swipe/insert outpaced other cashless categories both in annual growth and market penetration.

“Cambodians are quickly taking to digital payments, relishing the convenience and security they bring. Visa is offering all stakeholders the solutions and the insights to find their footing in Cambodia’s budding digital economy,” Ms. Monika Chum, Visa Country Manager for Cambodia said.

According to the press release, there is a clear age divide in the payment landscape, with the majority of those preferring cash (78 percent) being the elderly. Meanwhile, cashless alternatives are most popular among the youngest age groups (Gen Z and Gen Y), over 21 percent of whom prefer QR payments. Card payments are more evenly liked among the generations.

Dedicated user bases – those using a payment method at least four times a week – are the strongest for QR payments and card online with one in five consumers currently using them. Meanwhile, almost half of contactless cards are used at least once a week. In addition, Cambodia leads Southeast Asia with the most first-time users of mobile banking apps during the pandemic (29 percent).

Indeed, card swipe/insert penetration has reached 23 percent in the market, more than double last year. Meanwhile, almost 4 out of 10 consumers are interested in trying contactless cards. Interest is strongest among Gen Z and Gen Y consumers, where more than one-third of consumers would like to use them.

“Contactless cards are the latest payment innovation growing in popularity in Cambodia, offering a faster, safer and more convenient transaction experience. Consumers, especially the younger generations are eager to see wider acceptance and more contactless payment solutions. As the trusted engine of commerce, Visa wants to use the diverse capabilities of our network to enable individuals, businesses and economies to thrive,” added Ms. Monika Chum.

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories each year. Its mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. It believes that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement.

Source: Agency Kampuchea Press           

Ministry of Justice constantly makes legal and judicial reforms to meet the ever-changing social context and ensure justice and rule of laws.

The principle was highlighted by H.E. Chin Malin, Secretary of State and Spokesperson for the Ministry of Justice, during a press conference hosted by the Royal Government Spokesperson Unit of the Office of the Council of Ministers on June 29 here in Phnom Penh.

There are some issues in the reforms which are easy to be said than done, however, the ministry is working hard to address those challenge and accept that it is a continuous job, he added.

On legal reform, the ministry is not only reviewing the compatibility and effectiveness of the existing laws, but also developing new legal tools to address the gaps identified.

At the same time, there is also a need to evaluate and update the capacity of law enforcement officers, he continued.

Source: Agency Kampuchea Press           

Cambodia’s technology-based startups have grown rapidly in recent years, with the supporting ecosystem boosted by policies and infrastructure geared toward their development, according to a new report by the Asian Development Bank (ADB).

Programmes including Khmer Enterprise and the Startup Cambodia National Programme have emerged to help startups in areas such as digital platforms, seed funding, and research. These efforts are supported by policies such as the Cambodia Digital Economy and Society Policy Framework, according to the report, Cambodia’s Ecosystem for Technology Startups.

“The Government of Cambodia clearly recognises the importance of tech startups in the growth and development of the country,” said ADB Economist Paul Vandenberg, one of the report’s lead authors. “To facilitate this, the government has put in place key mechanisms and policies to support entrepreneurs.”

As with most countries, fintech and e-commerce dominate the tech startup landscape in Cambodia, as opposed to startups focused on education (edtech), health (healthtech), agriculture (agritech), and the environment (greentech)—all of which are considered to have high development impact. The report looks at these four areas and their potential to contribute to Cambodia’s inclusive and sustainable development.

Fostering the emergence of more startups in key development areas is a challenge, according to the report, as it requires more entrepreneurs to focus on these fields and develop them. But the government can also play a role by providing targeted support through dedicated incubators and accelerators, making available mentors with sector expertise, and supporting research activities in higher learning institutions.

Determining the number of startups active in the country is difficult because the market is fluid with new ventures arising regularly and existing ones failing or becoming dormant, according to the report. At the end of 2021, there were 90 startups registered with the Startup Cambodia National Programme, while one major incubator noted 150 active members.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.

Source: Agency Kampuchea Press           

Cambodia’s Ministry of Health reported 7 new cases of COVID-19, all are locally transmitted; bringing the tally to 136,279, according to the ministry’s news release issued this morning. 

At the same time, there is neither new recovered nor death cases; the total cured cases and death toll remain at 133,206 and 3,056, respectively.

The Kingdom began to detect new cases of COVID-19 since yesterday, after 52 days of zero infection.

In a recent voice message, Prime Minister Samdech Akka Moha Sena Padei Techo Hun Sen urged his compatriots to continue carrying out the health safety rules, particularly the Three Dos, Three Don’ts, and to get the booster doses to avoid the family, community and institutional transmission.

The first COVID-19 case was found in Cambodia in late January 2020 in Preah Sihanouk province.

Source: Agency Kampuchea Press