Phnom Penh, 16 July 2025 – Canadia Bank, one of Cambodia’s largest and most established commercial banks, signed a Memorandum of Understanding (MoU) with the General-Secretariat of the Digital Economy and Business Committee (GS-DEBC) to support the onboarding of the informal economy workers through the Digital Platform for Informal Economy Development.
The MoU signing ceremony was held in the presence of H.E. Hem Vanndy, Minister of Industry, Science, Technology and Innovation, and H.E. Dr. Kong Marry, Secretary of State of the Ministry of Economy and Finance, Secretary General of the General Secretariat of the Digital Economy and Business Committee, and Ms. Song Khenglay, Chief Operating Officer, representing Canadia Bank.
The Royal Government of Cambodia officially launched the Digital Platform for Onboarding the Informal Economy on 16 December 2024 under the leadership of Samdech Moha Borvor Thipadei Hun Manet, Prime Minister of the Kingdom of Cambodia. The onboarding under the informal economy framework is entirely voluntary. Individuals who onboard through the Digital Platform for Informal Economy Development will gain access to a wide range of benefits. These include a Certificate of Informal Economy Onboarding recognized by the government, opportunities to develop technical and professional skills, access to formal financial services such as credit and investment capital for business expansion, eligibility to apply for NSSF membership, targeted and timely support during times of crisis, and access to free healthcare services through the Health Equity Fund.
By partnering on this initiative, Canadia Bank proudly supports the Royal Government’s National Strategy for Informal Economy Development 2023 to 2028, aimed at empowering informal economy population and facilitating them into formal economy in the future. This strategic partnership also supports the Government’s broader effort to strengthen Cambodia’s digital economy and increase formal business onboarding.
Following the MoU signing, Canadia Bank will assist the informal economy workers, including micro-enterprises, seasonal workers, micro-entrepreneurs, and self-employed individuals, to onboard voluntarily and free-of-charge via Canadia Bank App and all Canadia Bank branches nationwide, especially at its counters located inside NSSF branches.
Mr. Raymond Sia, CEO and Executive Board Director of Canadia Bank, emphasized the importance of this collaboration, stating: “We are pleased to join hands with the Digital Economy and Business Committee in supporting Cambodia’s informal businesses on their transitions to formal sectors and, at the same time, helping them access more government services. This partnership highlights Canadia Bank’s ongoing commitment to expanding financial access and supporting local economic growth.”
