ខ្មែរ
English
Phnom Penh, Cambodia – Huawei Technologies (Cambodia) Co., Ltd. and the Cambodian Association of Finance and Technology (CAFT) signed a Memorandum of Understanding (MoU) on September 17, 2024 as part of the CamTech Summit 2024 activities. This partnership aims to significantly enhance Cambodia’s finance and technology sector by focusing on improving cybersecurity, resilient banking systems, and personal data protection practices.
The MoU represents a pivotal collaboration between the two organizations, with Huawei bringing its global expertise in advanced technologies and CAFT providing its deep insights into the local finance and technology landscape. Through this partnership, both parties will work together to strengthen cybersecurity standards, share best practices for building resilient banking systems, and improve personal data protection in Cambodia’s rapidly growing fintech industry.
Speaking at the signing ceremony, Mr. Tomas Pokorny, Board Secretary General of CAFT, underscored the importance of this partnership in securing Cambodia’s finance and technology future. “This MoU is a crucial step towards securing the future of Cambodia’s finance and technology industry. As finance and technology companies grow, it’s essential that they are equipped with the right tools and knowledge to protect their systems and customers. With Huawei’s expertise, we can create a safer and more resilient finance and technology ecosystem.”
In his remarks, Mr. Eason Xu, CFO of Huawei Cambodia, emphasized the company’s commitment to supporting Cambodia’s finance and technology ecosystem. “Many banks have been focusing in digital transformation for several years. However, the recent prolonged service outage and cybersecurity incidents showed that they should also strengthen their ICT infrastructure resilience. This is to provide secure and non-stop banking service to customers with a convenient and trusted environment. Huawei has rich experience in financial service industry in Cambodia and Asia Pacific including Singapore, Thailand and Hong Kong. With the partnership with CAFT, we are here to share with Cambodia especially the FinTech our best practices, experience and our end to end solutions to protect Cambodia financial systems.”
Looking to the future this partnership will not only address the immediate needs of cybersecurity and data protection but will also build a foundation for the sustainable growth of Cambodia’s finance and technology ecosystem. Our goal is to create an environment where finance and technology companies can innovate and expand, knowing they have strong protection in place.
The MoU will focus on key areas such as cybersecurity, where Huawei and CAFT will jointly implement initiatives aimed at improving security standards within Cambodia’s finance and technology sector. Huawei will provide technical expertise, while CAFT will engage local finance and technology companies through training programs, awareness campaigns, and resources designed to bolster security measures.
Beyond cybersecurity, the partnership also aims to build resilient banking systems tailored to the needs of finance and technology companies. Huawei will offer global insights and best practices on resilient banking, and CAFT will ensure this knowledge is disseminated to the industry through workshops and seminars. Additionally, personal data protection is a critical aspect of this collaboration, with both parties committed to strengthening data protection measures and promoting global best practices across the finance and technology industry.
Following the signing of the MoU, Huawei and CAFT will begin implementing these initiatives, starting with a series of workshops and training sessions to ensure finance and technology companies in Cambodia are equipped to meet global security standards. This collaboration is expected to foster a stronger, more resilient finance and technology industry that can thrive in a secure and sustainable environment.
