All enterprises and businesses will soon be able to easily and effectively pay for public and other services of the Ministry of Industry, Science, Technology and Innovation (MISTI) through Wing Bank’s digital payment system.
A Memorandum of Understanding (MoU) with Wing Bank (Cambodia) PLC to utilise the Bank’s digital payment solution for public service fees as well as to promote science, technology and innovation in Cambodia, was signed here last week under the presidency of Minister of MISTI H.E. Hem Vanndy and Neak Oknha Kith Meng, Chairman of the Board of Directors of Wing Bank and CEO of Royal Group.
Speaking at the function, H.E. Ms. Pech Sorya, Director General of MISTI’s General Department of General Affairs stated that management of non-tax revenue collection through the banking system avoids and minimises risks, including reducing informal expenses for citizens and businesses who apply for public services.
‘The MoU is not limited to cooperation on the use of Wing Bank’s financial services for
public revenue transactions through e-payment systems, but also highlighted the cooperation and mutual support on initiatives to promote science, technology and innovation, research and development, and training on digital transformation in order to improve factories-enterprises’ productivity,’ she added.
The MoU aims to promote digital payments including through the KHQR payment system of Wing Bank, to SMEs and businesses across Cambodia. Implementing such payment methods offers convenience, saves time, and reduces travel costs.
Mr. Hor Bunthe, Deputy General Director of Wing Bank, expressed his appreciation to MISTI for the confidence in Wing Bank in contributing to this important work. ” This partnership underscores our commitment to fostering innovation and a broader financial environment across Cambodia.’
According to a MISTI’s news release issued on July 14, MISTI and Wing Bank will work together to promote capacity building on technological innovations to SMEs that will help their business to grow.
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his cooperation is also in line with the National Policy on Science, Technology and Innovation 2020-2030, which aims to strengthen technological capabilities and promotes Cambodia’s innovation to achieve the vision of transforming the Cambodian into an upper middle-income country by 2030 and high-income country by 2050.
Wing Bank provides financial services through multiple channels, including the Wing Bank App, a network of over 11,000 agents nationwide, more than 80 Wing Masters agencies, and its branch offices across Cambodia. The bank has demonstrated its commitment to innovation through a wide range of financial services, as it serves approximately 165,000 businesses, 10 government institutions, around 3,000 SMEs, and 600 corporate entities.
Source: Agence Kampuchea Presse
