Vattanac Bank Partners with General Secretariat of the Digital Economy and Business Committee for Digital Platform Registration of the Informal Economy

Phnom Penh, Cambodia – 07 March 2025 – Vattanac Bank, a leading commercial bank in Cambodia, is pleased to announce the signing of a Memorandum of Understanding (MoU) with the General Secretariat of the Digital Economy and Business Committee. This collaboration aims to promote the registration of businesses within the informal economy through Vattanac Bank Mobile Application (VB App) and across all 41 Vattanac Bank branches nationwide.

The Royal Government of Cambodia officially launched the Digital Platform for Onboarding the Informal Economy on December 16, 2024, under the presidency of Samdech Moha Borvor Thipadei HUN MANET, Prime Minister of the Kingdom of Cambodia. This platform aims to facilitate the voluntary and secure registration of informal economy participants through an easy-to-use digital system. Through this initiative, informal economy workers can access vital benefits such as social security, formal financial services, skills training, and government support programs.

In alignment with Cambodia’s National Strategy for Informal Economy Development 2023–2028, the General Secretariat of the Digital Economy and Business Committee has partnered with Vattanac Bank to create a Mini App within the Vattanac Bank Mobile Application. This initiative is designed to support the registration process for informal economy participants, available at all Vattanac Bank branches nationwide as well as on the award-winning VB App, ensuring fast and convenient registrations. Vattanac Bank is fully committed to aiding the Royal Government’s efforts to drive economic growth and provide capacity-building opportunities for informal workers across the nation.

His Excellency Dr. Kong Marry, Secretary of State, Ministry of Economy and Finance and Secretary General, General Secretariat of the Digital Economy and Business Committee emphasized the importance of private sector involvement in collaborating with the government. “The role of private sector partners, like Vattanac Bank, is essential in improving public access and fostering synergy between the public and private sectors,” he stated. He further mentioned that this partnership represents the beginning of a strong alliance between the two organizations, with plans to collaborate on additional important projects to advance Cambodia’s economic and digital development.

“We are honored to be part of this transformative initiative that will pave the way for inclusive economic growth in Cambodia. Vattanac Bank is committed to fostering a stronger, more sustainable and resilient economy while ensuring that everyone, from small entrepreneurs to self-employed individuals, can access vital financial services,” said Dr. Anthony Chin, CEO of Vattanac Bank.

For more information regarding Informal Economy registrations, please reach out to 1267 or reach out to our 24/7 customer care via 023 999 900 or visit www.vattanacbank.com for further information.  

ABOUT US:

Vattanac Bank (VB), part of Vattanac Group, is a 100% Cambodian-owned commercial bank offering the full suite of products and services - Retail, SME, Corporate Banking, Trade Facilities, e-Payments, Escrow, Revenue Collection to name a few. Established in 2002, built on the foundation of quality, trust and excellence, VB has consistently demonstrated its commitment to global standards, digital innovation, prudent risk management, exceptional customer service and sustainability. Its current “Phygital” journey vision seamlessly combines the prowess of digital innovation with the warm physical engagement. Headquartered in Vattanac Capital, a landmark building in Phnom Penh, VB continues to expand and innovate in the Cambodian banking sector with 41 branches nationwide.