The Ministry of Foreign Affairs and International Cooperation’s National Institute of Diplomacy and International Relations (NIDIR) held a June 1 a lecture on “Economic Diplomacy in the Digital Era”.
National Bank of Cambodia deputy-governor Chea Serey was guest speaker at the event.
The lecture was conducted in a hybrid in-person and online format, with about 200 officials in attendance.
Meeting members included several high-ranking foreign ministry officials and diplomats who are serving abroad.
The function was presided over by Nhim Khemara, ministry secretary of state and head of the Economic Diplomacy Coordinating Group, according to a ministry press statement.
It explained that guest speaker Serey had briefed the attendees on the history of Cambodian currency, as well as the national bank’s role in managing the stability of the Kingdom’s currency, through a reliable and confident monetary policy.
She also touched upon the implementation of the dollarisation policy and emphasised the policy of encouraging the use of riel, so the bank will be able to manage inflation, should an unforeseen economic crisis occur.
Serey said the national bank has developed “Bakong”, a digital payment system which enables people to make easy peer-to-peer payments in Cambodia and several countries in the region. The bank is working to expand Bakong’s operations to more countries.
NIDIR president Cheuy Vichet stressed the importance of digital economic cooperation by Cambodian diplomatic missions, both at present and in the future, as this is a key priority of the foreign ministry’s Economic Diplomacy Strategies 2021-2023.
