The article explores the ongoing global and regional journey of digital transformation, emphasizing its critical role in modernizing businesses, boosting economies, and creating future-ready societies. Globally, the pandemic accelerated digital adoption among Small and Medium Enterprises (SMEs), with many making permanent shifts to digital tools. Studies by organizations like PwC and McKinsey reveal that integrating advanced technologies, fostering innovation, and addressing skill gaps are pivotal for long-term survival. Data analytics has emerged as a transformative force, positively impacting profitability, efficiency, and decision-making in organizations.
In Cambodia, digital transformation is progressing but unevenly. A study by Konrad-Adenauer-Stiftung (KAS) and EuroCham Cambodia highlights that while awareness of digital tools is high, many SMEs face barriers such as lack of expertise, resources, and funding. The Royal Government of Cambodia’s Digital Economy and Society Policy Framework 2021-2035 outlines key priorities, including digital entrepreneurship, education, and infrastructure, but challenges remain in implementation.
The Italian approach to digital transformation, centered on the National Recovery and Resilience Plan (PNRR), offers valuable lessons. Key priorities include digital infrastructure, tax incentives for digital investments, and a focus on education, healthcare, and tourism digitization. Notably, Italy emphasizes simplifying bureaucratic processes and leveraging international collaborations to overcome hurdles.
For Cambodia, adopting tailored elements of Italy’s model could accelerate progress. Key recommendations include enhancing digital infrastructure, supporting public-private partnerships, incentivizing digital investments, and fostering a skilled workforce. Emphasizing cloud technologies and digitized public services, alongside making tourism more digitally accessible, aligns with Cambodia’s goals of achieving a more inclusive and resilient digital economy. Finally, the article highlight how partnerships with international stakeholders could ease financial and technical challenges, enabling Cambodia to realize its vision of “Cambodia 4.0.”
Read the full article on the CamEd Business Review.