Phnom Penh: The Coordinating Committee for Informal Economy Development (CCIED) and the National Bank of Cambodia (NBC) collaborated in Phnom Penh to host a workshop on 'Promoting Financial Literacy and Entrepreneurship for the Informal Economy.' The event, held on April 23, aimed to enhance the financial and entrepreneurial skills of those active in the informal economy.
According to Agence Kampuchea Presse, the workshop was led by H.E. Hem Vanndy, Minister of Industry, Science, Technology and Innovation and Chairman of the CCIED, alongside H.E. Chea Serey, Governor of NBC. Approximately 350 representatives from various sectors, including the Association of Banks in Cambodia (ABC), the Cambodia Microfinance Association (CMA), banking and financial institutions, and informal economy participants, attended the session.
Minister Vanndy highlighted the significance of promoting financial literacy and entrepreneurship among informal economy actors, underlining its importance in implementing the National Strategy for Developing the Informal Economy. He noted that financial literacy equips individuals with essential knowledge and skills to manage funds effectively, advance their careers, and expand their businesses.
Governor Chea Serey, in her opening remarks, stressed the informal economy's role in driving national growth by creating jobs, supporting small businesses, and maintaining economic cash flow. She elaborated on the NBC's initiatives to support the National Strategy for Developing the Informal Economy 2023-2028, which include enhancing financial literacy, incentivising micro, small, and medium enterprises (MSMEs), improving payment systems, and increasing women's access to formal financial services.
The national strategy outlines key actions for relevant ministries, institutions, and sub-national administrations. The NBC's responsibilities encompass public outreach on financial literacy, encouraging savings and the use of formal financial services among self-employed individuals, SMEs, and women, and developing accessible, affordable, and efficient payment systems.
As of April 17, 2025, the Ministry of Industry, Science, Technology and Innovation reported that the 'Digital Platform for Onboarding the Informal Economy' had received 46,573 requests. These included 2,217 workers, 1,362 microenterprises, and 42,994 self-employed individuals.