Logo of Phnom Penh Post newspaper Phnom Penh Post - TSC, CAFT team up to promote tech in Kingdom

TSC, CAFT team up to promote tech in Kingdom

Content image - Phnom Penh Post
The state-run Techo Startup Center (TSC) and the Cambodian Association of Finance and Technology (CAFT) have entered into a memorandum of understanding (MoU) to promote technology in the Kingdom. Techo Startup Center

TSC, CAFT team up to promote tech in Kingdom

The state-run Techo Startup Center (TSC) and the Cambodian Association of Finance and Technology (CAFT) have entered into a memorandum of understanding (MoU) to promote technology in the Kingdom.

The MoU was signed on July 16 by CAFT chairman Remi Pell and TSC executive director Taing Nguonly, according to a press release obtained by The Post on July 19.

“The MoU is designed to achieve the common target of developing new technology, finance, new businesses … and other key areas that will push up the development of the technology sector in Cambodia.

“This MoU is also designed to enhance the quality of entrepreneurs and investors in Cambodia as well as abroad who are interested in investing in Cambodia,” the release said.

It said the cooperation will also focus on the development of a digital framework for financial and other new technologies, new businesses and entrepreneurs in Cambodia, in line with the global digitalisation current of the 21st century.

The TSC and CAFT also aim to jointly develop a sandbox to foster digitalisation in the areas of financial and entrepreneurship technology, and cooperation between the private and public sectors.

Nguonly said the MoU reflects the bilateral efforts to promote and facilitate the creation and development of new businesses in the field of financial and digital technology ecosystems.

“We will start this cooperation through the centre’s business acceleration programme in the near future,” he said.

CAFT executive director Weena Llona stressed that in order to enter into the modern era, the partnership must focus on young people and talented individuals.

“We are pleased to partner with Techo Startup Center to boost Cambodia’s entrepreneurial growth towards the development of world-class technology, financial technology [fintech] and entrepreneurship,” she said.

The TSC is a public administration institution under the auspices of the Ministry of Economy and Finance, and is tasked with accelerating the rate of new business venture formation and growth, by increasing entrepreneurial capacity and innovation through its programmes and services.

The CAFT aims to support and transform Cambodia into the Indochina leader in fintech innovation and investment.

MOST VIEWED

  • Hong Kong firm done buying Coke Cambodia

    Swire Coca-Cola Ltd, a wholly-owned subsidiary of Hong Kong-listed Swire Pacific Ltd, on November 25 announced that it had completed the acquisition of The Coca-Cola Co’s bottling business in Cambodia, as part of its ambitions to expand into the Southeast Asian market. Swire Coca-Cola affirmed

  • Moody’s sets outlook rating to ‘negative’ for Cambodia

    US global rating agency Moody’s Investors Service Inc on November 15 announced that it downgraded Cambodia’s outlook from “stable” to “negative” and maintained its B2 local and foreign currency issuer ratings. “The negative outlook reflects a deteriorating external position as illustrated by the severe

  • NagaWorld union leader arrested at airport after Australia trip

    Chhim Sithar, head of the Labour Rights Supported Union of Khmer Employees at NagaWorld integrated casino resort, was arrested on November 26 at Phnom Penh International Airport and placed in pre-trial detention after returning from a 12-day trip to Australia. Phnom Penh Municipal Court Investigating Judge

  • Korean first lady paves way for ill boy’s surgery

    A 14-year-old boy with congenital heart disease who was lucky enough to meet with South Korean first lady Kim Keon-hee may get the chance of a lifetime and receive surgery and treatment at Asan Medical Center in Seoul, South Korea. After seeing his plight, many

  • Hun Sen’s Covid infection caused by ‘weakened antibody’ after summit

    Prime Minister Hun Sen said exhaustion from heavy workload before and during the recent ASEAN Summit may have led to him contracting Covid-19 due to his weakened immune system, while rejecting speculations that the infection was caused by leaders of some countries who did not

  • Kingdom’s rice crowned world’s No1

    Cambodia’s Phka Rumduol jasmine variety has been crowned the World’s Best Rice for the fifth time at the TRT (The Rice Trader) World Rice Conference in Phuket, Thailand on November 17, according to leaders of the Kingdom’s apex rice industry body. Phka Rumduol