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Photo by Doan Duong. In a daring cross-border operation, Vietnamese police, in coordination with Cambodian authorities, dismantled a major fraud ring operating out of the notorious Venus2 complex in Bavet City, Cambodia. The raid, which took place in December 2024, resulted in the arrest of 12 suspects linked to a transnational scam network that had defrauded victims across Vietnam. A High-Stakes Crackdown The operation was launched after Lai Chau police received a complaint from a Vietnamese barber who lost 200 million VND (£6,600) in an online scam. Following a two-month investigation, six suspects were arrested in Vietnam, leading authorities to a broader network based in Cambodia. Given the legal and diplomatic complexities of conducting an international raid, the Vietnamese Ministry of Public Security coordinated closely with Cambodian officials. The operation—codenamed 0924L—marked a significant step in tackling organised crime across borders. Storming the Scam Den On 11 December 2024, a joint task force comprising Vietnamese and Cambodian officers moved into position. By 8:00 am, they had surrounded the Venus2 complex, a densely populated area notorious for housing criminal operations. At 10:00 am, the team stormed room 6-808, catching the scammers off guard. “Their faces showed utter disbelief—they never expected Vietnamese police to come all the way to catch them,” recalled Colonel Pham Hai Dang, head of the task force. The operation lasted five tense hours, during which officers remained on high alert in the volatile environment. Once secured, the 12 suspects were handed over to Cambodian authorities for processing. Justice Delivered Two weeks later, all 12 suspects were extradited to Vietnam, where they were linked to a scam network that had stolen nearly 4 billion VND (£132,000) from 52 victims. Investigators also uncovered suspicious financial transactions totalling over 100 billion VND (£3.3 million). The success of this raid highlights growing cooperation between Vietnam and Cambodia in tackling cross-border crime. For victims, it represents a step towards justice, as authorities continue to dismantle fraud networks preying on unsuspecting citizens. -2025-03-25

Before 1975 (Photo by Valleguidonensis / CC BY-SA 4.0) A long-awaited moment of renewal is taking shape in Cambodia’s capital, as the country’s Catholic community prepares to unveil the new St. Joseph Cathedral in Phnom Penh. Scheduled for consecration in November, the cathedral marks a powerful symbol of faith and perseverance nearly 50 years after the Khmer Rouge destroyed the original Notre Dame Cathedral in 1975. “We are proud that we can see the church rise again,” said Father Paul Chatsirey, the parish priest, in an interview with UCA News. Blending Khmer and Catholic architectural styles, the new cathedral has been under construction since 2021 and is set to be completed by July. It will accommodate up to 700 worshippers, making it the first church built in Cambodia since 1967. The $3 million project has been largely funded by Catholics from Cambodia, Thailand, and Vietnam, with significant contributions from the Paris Foreign Missions Society (MEP). A History of Faith and Persecution Catholicism has endured a turbulent history in Cambodia, dating back to the 17th century. While early missionaries were welcomed, conversions remained rare. A small but visible Catholic community emerged in the 18th century, primarily composed of Vietnamese refugees fleeing persecution. By 1970, Catholics in Cambodia numbered around 65,000, the majority of whom were of Vietnamese descent. However, growing nationalist hostility under General Lon Nol’s government forced tens of thousands to flee. The Khmer Rouge’s rise to power in 1975 proved catastrophic. Determined to erase symbols of foreign influence, the regime targeted Catholics, destroying churches and killing or driving out nearly half of Cambodia’s Catholic population. Among their acts of destruction was the demolition of the Notre Dame Cathedral, a prominent city landmark. “The trauma still lingers among Cambodian Catholics,” said historian Alain Forest, professor emeritus at Paris Diderot University. A New Beginning Decades after the fall of the Khmer Rouge, Cambodia’s Catholic community has slowly rebuilt itself. The government returned some church properties in the 1990s, and a seminary was reopened for worship. In 2019, plans for a new cathedral took shape, leading to the construction effort that is now nearing completion. The Catholic population in Cambodia remains small—estimated at around 20,000—but the new cathedral stands as a testament to the resilience of a community that has endured decades of hardship. “This is a reaffirmation in a country still overwhelmingly Theravada Buddhist,” Forest noted. “It’s also a way of showing the church’s continuity and resilience.” Until the grand opening in November, worshippers continue to gather in a temporary space, quietly awaiting the day when their faith will once again be enshrined in stone. -2025-03-25

The Irrawaddy, archives A Myanmar junta airstrike on a medical clinic in the country’s central Magway region has killed 11 civilians, including medical staff and children, in one of the latest brutal attacks by the military regime. The airstrike hit a clinic in Gangaw Township on Saturday morning, despite no ongoing battles in the area between junta forces and anti-regime militias, residents told Radio Free Asia (RFA). “We found 11 bodies. There were five children,” said a local resident, who requested anonymity for security reasons. “Everyone was a civilian.” Myanmar’s National Unity Government (NUG), the exiled administration opposing the junta, confirmed that among the dead were Dr Mya Soe Aung, 40, his wife, nurse Khaing Hnin Wai, 39, who was four months pregnant, and their five-year-old son. Eight other patients waiting for medical care also lost their lives. The couple had previously worked at Tin Thar District Hospital in Sagaing Region and were active participants in the Civil Disobedience Movement, a peaceful resistance campaign against the junta following its 2021 coup. After resigning from their government positions, they continued to provide medical aid in conflict-affected areas. Mass Arrests and Civilian Killings In a separate incident, residents reported that junta troops executed four civilians who had been arrested during mass raids on villages in Salin Township, around 186 kilometres south of Gangaw. Their bodies were found in an abandoned toilet pit at a local school. “The bodies were dumped inside an old toilet pit at Kya Pin’s school,” said a local administrative group member, speaking anonymously. “We cannot retrieve them for burial and have to cover the area with sand.” Elsewhere in Magway region, junta forces burned down more than 100 homes in Koke Ko Tan and Nay Pu Khan villages, killing a 55-year-old woman in the blaze. The attacks have displaced approximately 17,000 people, leaving them unable to return home. The junta has not responded to requests for comment. According to the Assistance Association for Political Prisoners, more than 6,400 civilians have been killed by the Myanmar military since the coup in 2021. This latest attack highlights the escalating brutality of the junta’s campaign against civilians, particularly those involved in the pro-democracy movement. -2025-03-25

Archives 2015 Japan has expressed deep scepticism over Myanmar’s military junta’s plans to hold national elections by January 2026, warning that such a move could worsen the country’s political crisis. During a parliamentary session on 21 March, Japanese Foreign Minister Takeshi Iwaya voiced “serious concern” about the proposed elections, stressing that no meaningful political progress had been made. His comments followed junta leader Senior General Min Aung Hlaing’s announcement of the election timeline during a visit to Belarus earlier this month. “The Japanese government is seriously concerned that holding national elections while there has been no political progress, such as the release of those detained, including Aung San Suu Kyi, and dialogue to break through the current situation, will only invite more resistance from the Myanmar people and make a peaceful resolution difficult,” Iwaya said in response to an opposition lawmaker’s question. Since seizing power in February 2021, Myanmar’s military has committed widespread human rights abuses, including extrajudicial killings, torture, and indiscriminate attacks on civilians. The junta has also jailed opposition politicians, criminalised their parties, and violently suppressed dissent, making free and fair elections impossible. Compounding concerns, much of Myanmar remains outside the junta’s control due to ongoing conflicts with ethnic armed groups and anti-regime forces. Last October, the junta attempted a nationwide census—ostensibly to prepare voter lists—but completed it in only 145 of the country’s 330 townships. Observers believe the census was less about voter registration and more about tracking opposition activists and conscripting recruits. Japan is not alone in its opposition. Malaysian Foreign Minister Mohamad Hasan recently stated that elections in Myanmar were “not a priority,” while United Nations human rights experts have urged member states to denounce the proposed vote as a “fraud.” While Japan’s criticism marks a significant step, analysts argue that Tokyo should take a firmer stance. Calls are growing for Japan to push other governments, including ASEAN states, South Korea, and India, to publicly reject the junta’s election plans and withhold any technical support for a process widely seen as neither free nor credible. -2025-03-25

xinhua Chinlone, Myanmar’s 1,500-year-old national sport, is taking steps toward global recognition as the country plans to submit it for UNESCO’s Intangible Cultural Heritage status in 2026. More than just a game, Chinlone blends skill, rhythm, and traditional music, making it both a sport and a cultural performance. "Preserving Chinlone is a national responsibility," said Aung Htet of the Myanmar Chinlone Federation, emphasising its role in promoting teamwork, discipline, and national pride. Originally played for royal entertainment, Chinlone became an officially recognised sport in 1953. Today, it remains a cherished part of Myanmar’s heritage, with local competitions, training programmes, and international tournaments keeping the tradition alive. For many, Chinlone is more than exercise—it fosters community, mental well-being, and even serves as a healthy alternative for young people. "Unlike other sports, Chinlone is low-cost, with no aggression or injury. It reflects the spirit of the Myanmar people—helping and supporting one another," said veteran player Khin Maung Win, 70, who has played for six decades. The sport’s popularity continues to grow, with Myanmar consistently winning medals since Chinlone was introduced to the Southeast Asian Games in 2013. Now, the country is pushing for wider recognition across Asia, with hopes of one day securing its place in the Olympics. As Myanmar prepares for its UNESCO bid, Chinlone players and advocates remain committed to preserving and promoting their beloved sport, ensuring that its legacy endures for generations to come. -2025-03-24

mizzima Myanmar’s military leader, Min Aung Hlaing, has acknowledged that international sanctions are significantly affecting the regime, marking a rare admission of economic strain since the 2021 coup. Speaking at the “Forum on Myanmar Beyond 2025” in Naypyidaw on 21 March, Min Aung Hlaing admitted that sanctions imposed by Western nations over human rights abuses were creating major difficulties. However, he insisted that the junta was finding ways to manage the crisis. “If sanctions are imposed, there will certainly be an impact,” he said. “It is true that there are difficulties, but we can manage them.” The United States and the European Union have sanctioned key junta officials, including Min Aung Hlaing himself, along with military-linked businesses. Now, further restrictions may follow, as the International Labour Organization (ILO) moves to block the regime’s revenue sources under Article 33. Despite the challenges, the junta leader remains focused on economic recovery, claiming Myanmar’s GDP stands between $60-70 billion, with a target of $81 billion in the next fiscal year. He proposed increasing exports to neighbouring countries, particularly in sectors such as footwear manufacturing, arguing that demand across Asia presents an opportunity. However, with sanctions tightening and international pressure mounting, Myanmar’s economic future remains uncertain. -2025-03-24

Cambodian gvt For the first time, conservationists have released Siamese crocodiles into Cambodia’s Virachey National Park, marking a major step in a decades-long effort to save the species from extinction. Once thought to be extinct in the wild, the Siamese crocodile has made a slow but steady comeback, thanks to conservation efforts led by the Fauna & Flora organisation. The reptiles, which can grow up to four metres long, were rediscovered in Cambodia’s remote Cardamom Mountains in 2000, sparking a nationwide conservation initiative. Today, Cambodia is at the heart of efforts to protect the species, with an estimated 400 individuals now living in the wild. Globally, their population is believed to have reached 1,000, though this remains just a fraction of their former range. A key part of the recovery plan is a breeding programme at Phnom Tamao Wildlife Rescue Centre. Here, eggs are incubated and hatchlings raised in controlled conditions, dramatically improving survival rates. Instead of the high mortality seen in the wild—where only a handful out of 50 survive—this programme ensures a nearly 100% success rate before release. Until now, reintroductions have focused on the Cardamom Mountains, where last year saw a record 60 hatchlings born in the wild. However, as the population grows, new habitats are needed. Virachey, with its remote, protected environment, offers a promising new home. Transporting the crocodiles was no easy feat. Over 18 hours, they were carried in bamboo baskets by car, motorbike, and boat to reach their destination. Each animal was fitted with a tiny acoustic transmitter beneath its skin, allowing researchers to track their movements and monitor their survival. Releasing them was a cautious process—first, a period of acclimatisation in a temporary enclosure, followed by a final check of tracking receivers. Then, the tape securing their jaws was removed, and one by one, they were lowered into the water. The conservation team hopes this release will mark the beginning of a thriving new population in Virachey. For local communities, who have played a key role in protecting the species, the return of these ancient reptiles symbolises hope for both biodiversity and the future of conservation in Cambodia. -2025-03-24

Cambodian gvt A three-year-and-six-month-old boy from Kratie province, northeast Cambodia, has tested positive for H5N1 avian influenza, the country's Ministry of Health confirmed on Sunday. This marks the third human case reported in Cambodia this year. The child was admitted to hospital in critical condition, suffering from fever, cough, and difficulty breathing. He is currently receiving intensive medical care from a specialist team. Health officials revealed that the boy’s family kept chickens, and several had died or fallen ill before the child’s infection. Some of the dead poultry had been consumed by the family, potentially exposing them to the virus. Authorities are now investigating the source of the infection and tracking individuals who may have been in contact with the patient to prevent further spread. Of the three H5N1 cases recorded in Cambodia this year, two have been fatal, with all patients having had direct exposure to sick or dead poultry. H5N1 primarily spreads among birds but can occasionally infect humans, causing severe respiratory symptoms. Since 2003, Cambodia has recorded 75 human cases, 45 of which have been fatal. Health officials continue to monitor the situation closely to prevent a wider outbreak. -2025-03-24

AA Fierce fighting between the Arakan Army (AA) and Myanmar’s military junta has intensified across three townships in Ayeyarwady Region, forcing thousands of civilians to flee, according to local reports. Junta Airstrikes and Clashes Spread This week, junta airstrikes and shelling triggered battles in Lemyethna, Yegyi, and Thabaung townships, near the border with Rakhine State. Airstrikes targeted villages in Lemyethna, while in Thabaung, clashes erupted near Artillery Battalion 334 as junta aircraft circled overhead. The military has imposed travel restrictions, shutting down key roads, including Pathein-Monywa and Gwa-Ngathaingchaung, since 18 March. Meanwhile, reports indicate junta troops retreating from village outposts in Thabaung. Humanitarian Crisis Worsens More than 3,000 residents from 10 villages in Thabaung and around 1,000 from Lemyethna have been displaced. With airstrikes ongoing, many civilians have fled to monasteries and urban centres for shelter. The AA, which launched an offensive against the military in November 2023, has gained control of 14 out of 17 Rakhine townships and Paletwa Township in Chin State. Recent battles in Nyaungdon have reportedly left over 120 junta troops dead, with AA forces capturing key positions in Padaung. Civilian Concerns Grow The fighting has raised fears for civilian safety, particularly as national matriculation exams take place. Reports suggest the junta is preparing to occupy schools after the exams, reinforcing its defensive positions. As clashes continue in Bago and Magwe regions, Myanmar’s conflict shows no signs of de-escalation, deepening the humanitarian crisis in affected areas. -2025-03-22

Myo Kyaw Soe/Xinhua Myanmar’s foreign trade has reached 25.79 billion U.S. dollars in the first 11 months of the 2024-25 fiscal year, accounting for 78% of its annual target of 33 billion dollars, according to state media reports. Pushing Towards Export Growth With less than a month left in the fiscal year, government agencies, private sector associations, and exporters are collaborating to meet the trade goal and double exports. A key step in this effort was a recent meeting of the National Export Strategy Government-Private Export Promotion Committee in Nay Pyi Taw, where officials reviewed the current National Export Strategy (2020-25) and began drafting the next phase (2026-30). Key Trade Sectors Myanmar’s primary exports include agricultural, animal, and marine products, as well as minerals, forest products, and manufactured goods. Its major trade partners include China, Thailand, Bangladesh, and India. With continued efforts to expand exports, Myanmar remains focused on achieving its trade objectives and strengthening its economic position in the region. -2025-03-22

As Cambodia strives towards its Vision 2050 goal of becoming a high-income nation, energy policy is emerging as a critical factor in securing long-term economic and environmental stability. Prime Minister Hun Manet faces the challenge of sustaining rapid growth while addressing climate change, and experts suggest nuclear power may hold the key. Balancing Growth and Sustainability With annual growth averaging 7.6% from 1995 to 2019, Cambodia has transformed through textiles, tourism, agriculture, and construction. However, achieving high-income status requires innovation beyond traditional industries. The World Bank’s 2024 report on middle-income nations highlights the importance of investment, infusion of expertise, and innovation to avoid stagnation. At the same time, Cambodia’s commitments under the Paris Climate Agreement demand net-zero carbon emissions and an increase in forest cover from 43% to 60% by 2050. Achieving these goals while maintaining economic growth presents a complex challenge. The Case for Nuclear Power Proponents argue that nuclear energy offers a solution to Cambodia’s dual challenge of industrial advancement and environmental responsibility. Nuclear power could provide stable, low-carbon electricity while enabling high-tech industries such as advanced manufacturing and AI. Additionally, nuclear innovations in direct air and ocean carbon capture could help reverse legacy emissions and combat ocean acidification. France, a global leader in nuclear energy, as well as Russia and China, have the expertise to assist Cambodia in developing nuclear infrastructure. China, already the primary investor in Cambodia’s hydropower sector, is actively developing thorium reactors, while Western tech giants like Amazon and Microsoft are investing in small modular reactors (SMRs). A Strategic Energy Policy Energy independence is increasingly seen as a pillar of national security and economic strength. Cambodia’s strategic non-alignment policy necessitates reducing reliance on any single nation, and diversifying its energy sources could reinforce its autonomy. Without a long-term energy strategy, the country risks economic and environmental setbacks. As the government considers its options, decisive action will be crucial. Vision 2050 demands bold leadership—one that embraces innovation to navigate the energy transition while safeguarding Cambodia’s future prosperity. -2025-03-22

Japan has announced a grant of 1.466 billion yen (approximately USD 11 million) to Cambodia, reinforcing its commitment to mine action and historical education. The funding, directed to the Cambodian Mine Action Centre (CMAC), will support two major projects aimed at strengthening demining capabilities and constructing the Techo Peace Museum. The agreement was formalised on 20 March 2025 in a signing ceremony attended by Cambodia’s Deputy Prime Minister Prak Sokhonn and Japan’s Ambassador Ueno Atsushi. Key Initiatives Boosting Mine Action Capabilities The bulk of the grant—1.166 billion yen (over USD 8.4 million)—will be used to enhance CMAC’s technical capacity. This includes acquiring essential demining equipment and vehicles, facilitating training programs for regional and international mine action experts. Techo Peace Museum Construction An additional 300 million yen (over USD 2 million) will go towards building the Techo Peace Museum and a training centre in Siem Reap’s Prasat Bakong district. The museum, designed to resemble an anti-personnel landmine, will cover 52 metres by 52 metres and stand 17 metres tall. Expected to be completed in three years, it aims to educate visitors on the devastating impact of landmines and promote peace. This funding highlights Japan’s long-standing support for Cambodia’s demining efforts, helping to create a safer and more peaceful future. -2025-03-22

Myanmar's pursuit of nuclear technology dates back to the early 2000s, with the recent junta confirming plans to build a small-scale nuclear power plant in the coming years. Despite claims that nuclear energy will address chronic electricity shortages, concerns persist that this may be a step toward nuclear weapons development. The following is a timeline of Myanmar’s nuclear ambitions: January 2002: Myanmar's military regime announces plans for a nuclear research reactor. May 2002: Russia’s Minatom agrees to assist in building a nuclear studies center in Magwe Division. July 2002: Russia and Myanmar sign an agreement for the center’s construction. April 2004: Concerns arise about North Korea’s possible nuclear assistance to Myanmar. February 2004: The regime denies nuclear weapon ambitions but asserts its right to peaceful nuclear facilities. September 2004: 400 Myanmar military officers travel to Russia, some to study nuclear engineering. August 2006: Myanmar's UN representative expresses opposition to nuclear weapons. May 2007: Russia’s Rosatom commits to building Myanmar’s nuclear facility. May 2007: The US condemns the project; Thailand expresses no concerns under IAEA supervision. November 2008: A Myanmar military delegation visits North Korea, arousing concerns about military nuclear aspirations. 2010: Major Sai Thein Win leaks evidence of Myanmar’s nuclear weapons development with North Korean support. July 2013: A senior military official is sanctioned by the US for illicit North Korean arms trade. 2016: Under Aung San Suu Kyi’s government, Myanmar signs the Comprehensive Nuclear Test Ban Treaty. 2018: Myanmar ratifies the Treaty on the Prohibition of Nuclear Weapons. September 2022: The junta and Russia’s Rosatom sign a roadmap for atomic energy cooperation. September 2022: Junta confirms plans for a nuclear power plant, establishing an information center in Yangon. February 2023: The nuclear information center officially opens in Yangon. March 2025: Min Aung Hlaing visits Moscow, signing agreements for a 110 MW small modular reactor near Naypyitaw, with potential expansion to 330 MW. This timeline highlights Myanmar’s deepening nuclear ties with Russia, raising questions about the true intent of its nuclear ambitions. -2025-03-21

Nippon Myanmar remains gripped by economic collapse and violent conflict four years after the military seized power in a coup. With inflation soaring, energy shortages worsening, and a brutal civil war raging, the country’s future appears increasingly uncertain. A Nation in Economic Freefall Before the coup in February 2021, Myanmar was on a path toward economic recovery following the COVID-19 pandemic. However, the military takeover derailed progress, leading to severe financial instability. The national currency, the kyat, has plummeted in value, dropping from 1,500 kyat per US dollar before the coup to 7,000 kyat by mid-2024. Inflation has skyrocketed, doubling the cost of goods and sending fuel prices soaring to five times their pre-coup levels. Foreign reserves have been depleted, forcing authorities to impose strict restrictions on US dollar withdrawals and imports. The government has limited import licenses to businesses in the Thilawa Special Economic Zone, causing supply shortages across industries. Japanese firms, once major investors in Myanmar, are withdrawing, and the Japanese Chamber of Commerce in Myanmar has seen its membership shrink dramatically. Compounding the crisis, electricity shortages persist, with power only available for eight hours every two days. Despite raising electricity rates by 2.5 times, the junta has failed to improve supply, forcing factories and businesses to rely on costly fuel generators, further undermining Myanmar’s economic prospects. A War with No End in Sight Meanwhile, fighting between the military and the People’s Defence Force (PDF), the armed wing of the opposition National Unity Government, has intensified. Once in control, the military now faces heavy territorial losses and diminishing troop numbers, prompting a desperate move in June 2024: conscription. Under this policy, men aged 18 to 45 are forcibly drafted, with reports indicating that even 14- and 15-year-olds are being taken from the streets, given alcohol and cigarettes to appear older, and sent directly into battle. The violence has displaced thousands, leaving entire communities homeless. Schools remain closed in conflict zones, with teachers targeted in attacks. The lack of education threatens the future of Myanmar’s youth, deepening the country’s long-term instability. A Bleak Outlook for Myanmar Diplomatically isolated, Myanmar saw its last major foreign connection severed when Japan decided not to replace its outgoing ambassador in September 2024. Once considered Asia’s “last frontier” of opportunity, the country is now described as a “lost frontier.” With no clear path back to democracy, Myanmar’s future remains in jeopardy, and its people continue to bear the brunt of this prolonged crisis. -2025-03-21

KT/Chor Sukuntea The National Bank of Cambodia (NBC) is intensifying efforts to promote the Cambodian riel (KHR) and reduce reliance on the US dollar, aiming to strengthen the country’s monetary sovereignty. While the dollar has dominated Cambodia’s economy since the 1990s, NBC is working to shift towards a more self-sufficient financial system through policy incentives, digital innovation, and financial education. To encourage riel usage, NBC has launched financial literacy programs in schools, introduced reserve requirements favouring riel deposits, and mandated pricing of goods and services in the local currency. Businesses and government employees are also increasingly required to receive salaries in riel, ensuring its steady circulation. Another key initiative is the development of an interbank market to facilitate riel transactions among financial institutions. NBC’s liquidity-providing collateralised operations (LPCO) in riel enable banks to access funds more easily, making the currency more attractive. Additionally, interest rate stability remains a priority, with NBC maintaining competitive rates on riel deposits and loans to build confidence among borrowers and savers. A major breakthrough in digital transactions is the Bakong payment system, a blockchain-based platform developed by NBC. By integrating banks and mobile wallets, Bakong enables seamless riel transactions and promotes financial inclusion. It also connects Cambodia to regional payment networks, facilitating cross-border transactions in riel. The government has further reinforced the riel’s role by issuing riel-denominated bonds, providing a secure investment avenue and strengthening financial markets. Despite these measures, full de-dollarisation remains challenging due to strong public trust in the US dollar, its historical stability, and its dominance in foreign trade and large business transactions. NBC continues to intervene in the foreign exchange market to stabilise the riel against the dollar while introducing market-based monetary policies to maintain price stability. However, external factors such as global interest rate trends and Cambodia’s reliance on external financing present ongoing challenges. At an annual conference in February, NBC Governor Chea Serey reaffirmed the banking sector’s resilience, citing strong deposit growth and high liquidity levels. She highlighted the modernisation of Cambodia’s payment systems and the growing adoption of digital transactions as key drivers in promoting the riel. Financial experts agree that increasing riel usage is crucial for Cambodia’s economic stability. Economist Hong Vannak emphasised that greater reliance on the riel would protect the country from exchange rate fluctuations and inflation while strengthening investor confidence and public trust in the financial system. While full de-dollarisation will take time, NBC’s strategic policies are gradually shifting Cambodia towards a more independent and resilient economy. By embracing the riel, businesses, financial institutions, and the public can collectively contribute to a stronger financial future for Cambodia. -2025-03-21