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Digital Economy Collaboration: Cambodia, Vietnam, and Laos Join Forces

Source: Khmer Times

Cambodia has been urged to further foster digital relations with its neighbors mainly Vietnam and Laos amid the Asean region striving to engage in deeper integration of digital economies.

This came as over 100 Vietnamese, Laotian, and Cambodian experts in digitalization attended an international conference on digitalization and investment cooperation in Ho Chi Minh City last week.

The event organized jointly by the Vietnam Academy of Social  Sciences (VASS), Lao Academy of Social and Economic Sciences (LASES), and Royal Academy of Cambodia (RAC)  focused on the increasing significance of digital cooperation between Vietnam, Cambodia, and Laos.

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Speaking to the media, VASS President Dr. Phan Chi Hieu said promoting the digital economy in Cambodia, Laos, and Vietnam is one of the key tasks ahead to accelerate the restructuring of economic activities by embracing innovation and new growth models. “This is of great importance as three economies pursue the road towards becoming the developed industrialized nations in the region. The three countries must increase commercial and investment collaborations under the digitalisation spheres.”

LASES President Dr Sonethanou Thammavong said Vietnam and Cambodia offer great inspiration for Laos in its digital transformation journey. “In these three countries, there is a readiness to build their digital-transformation-oriented socio-economic infrastructure.

“Laos’ digital transformation, which encompasses various sectors including commerce and investment, is currently at a basic and initial stage. Therefore, Laos hopes to exchange and share experiences with experts from Vietnam and Cambodia and to learn from their experiences.”

Stressing the longstanding relationship between the three countries, RAC President Dr. Sok Touch said Vietnam has set a role model for Cambodia and Laos to emulate in terms of its digital transformation success. “Vietnam has been progressing faster than Cambodia and Laos, especially in the fields of tourism, commerce, and investment. The nations’ teamwork, particularly in the digital economy sector, plays a significant role in promoting the development of each.”

The event emphasized digital economic development trends and their applications in boosting the countries’ trade and investment, digital-transformation-induced opportunities and challenges for the growth of the trilateral ties, and ways to promote their joint works in the digital age.