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Adapting to Fourth Industrial Revolution a priority – Minister

Chea Vannak / Khmer Times Share:
Aun Porn Moniroth
Aun Pornmoniroth, the Minister of Economy and Finance, speaks at Digital Cambodia 2019. KT/Mai Vireak

Cambodia is now laying the foundations of a successful digital economy but more needs to be done to ensure the Kingdom is not left behind in a world where technology plays an increasingly important role, Cambodia’s deputy prime minister said yesterday.

Aun Pornmoniroth, who is also the Minister of Economy and Finance, was speaking at Digital Cambodia 2019, a pioneering international event that seeks to promote entrepreneurship, innovation, and development in the ICT sector and boost startup culture.

Digital Cambodia, held March 15-17 in Phnom Penh, also brought together high-ranking public officials and business leaders from around the region to discuss the development of an Asean framework to face the Fourth Industrial Revolution, which is commonly described as the current wave of technological innovations that are blurring the lines between the physical and digital spheres.

Mr Pornmoniroth said the government aims to transform the country into a digital economy in the next few years, and said the Fourth Industrial Revolution represents an opportunity to boost economic progress and industrialisation.

To seize these opportunities, the government is focusing on building a strong foundation, which includes the drafting of effective regulation and strategies to facilitate the adoption of technology, mitigate associated risks, and manage the business sector.

“We will focus on strengthening and expanding the foundations of the digital economy for hard and soft infrastructure and developing human resources as well as an effective legal and regulatory framework,” Mr Pornmoniroth said.

The minister said it was imperative to speed up Cambodia’s economic transformation to sustain the impressive economic growth seen in the last decade.

“We will see Cambodia moving away from agriculture to become more reliant on service industries. These industries will continue to evolve, further integrating Cambodia into regional and global value chains,” Mr Pornmoniroth said.

Tram Iv Tek, the Minister of Posts and Telecommunications, said, “The global economy has gone digital and this calls for new skills and new knowledge.

“We have now entered the era of information where new opportunities are emerging every day and only those that have the ability to learn and adapt will gain a competitive advantage.”

He said the ministry’s main focus now is to bridge the digital divide in Cambodia. “As we do that, we must also bridge the knowledge divide,” he added.

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