Laos, Cambodia, Vietnam to Enhance Cooperation in Digital Economy

Laos, Cambodia, Vietnam to Enhance Cooperation in Digital Economy
LOCA is planning to expand its operations to Cambodia, boosting the country's ongoing digitalization drive. (Photo: KT/Pierre Roussel)

As ASEAN strives to achieve further integration of digital economies, Laos is trying to foster better cooperation with neighboring countries Vietnam and Cambodia on this front.

This move came as over 100 digitalization experts from Laos, Vietnam, and Cambodia met during an international conference on digitalization and investment conference in Ho Chi Minh City.

Speaking at the event was the Lao Academy of Social and Economic Sciences (LASES) President, Dr. Sonethano Thammavong who said, “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.”

Dr. Sonethano also said that both Vietnam and Cambodia offer great inspiration to Laos in its digital transformation journey, stating that, “In these three countries, there is a readiness to build their digital-transformation-oriented socio-economic infrastructure.”

The Royal Academy of Cambodia’s (RAC) President also spoke at the event, emphasizing the long-standing relationship between the three nations, and Vietnam’s blueprint for digitalization success.

He said, “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 other areas.”

Experts at the event also recommended that the bloc’s nations should establish and improve institutional and legal environments, to meet the requirements of the international integration era in the context of the digital economy.

In another move to strengthen the digital economy and deepen ties, Laos and Cambodia introduced the Lao-Cambodia cross-border payment system (KHQR scan LAOQR) this year, which allows users to pay for goods and services in Laos and Cambodia using the local currencies, Lao kip and Khmer riel, via QR code.