Cambodia’s business community has been recommended to think about cloud-based data hosting for their personalized customer data and be prepared for any possible updated compliance requirements such as data localization for critical sectors.
The comments were made at the “Securing Cambodia’s Digital Future 2022” event promoting Alibaba Cloud services organized by tech solution firms Biplan Global, Solutions for Asia and the Cambodia Association of Finance & Technology and supported by Alibaba Cloud.
To read more about Cambodia Association of Finance and Technology click here.
Alibaba Cloud officially launched in Cambodia in April this year as the Chinese e-commerce and tech giant hopes to make its mark on a rapidly growing industry in the Kingdom.
To gain a foothold in Cambodia, Alibaba has formed a partnership with MDP, a Cambodian IT consulting firm, and Solutions for Asia, the tech firm focused on cyber security headquartered in Singapore which is licensed to distribute its products.
Alibaba Cloud services for Cambodian businesses
Alibaba Cloud services are typically defined as infrastructure, platforms, or software that are hosted by third-party providers and made available to users through the internet.
Cloud services enable companies to store and manage data remotely without any physical structure and in the age of digitalization, they are essential for most businesses with an online presence.
H.E. Ainsley Jong – Founder and Managing Director of Solutions for Asia told Cambodia Investment Review after the event that his company has partnered with Alibaba Cloud to bring technologically advanced solutions to Cambodian companies of all sizes and sectors.
“At Solutions for Asia we achieve our aim by putting people at the center of our business and then partnering with the best technology providers to make the things that matter to them secure,” Ainsley said.
To read more about Alibaba Cloud services in Cambodia click here.
“The importance of cloud is on the rise and now society is fast becoming more and more reliant on this technology. Even before Covid-19, the world had already been moving quickly towards revolving around tablets and smartphones, whether you are an individual, a small business, or a large multinational, you rely on cloud systems every day,” he added.
Remi Pell, Chairman of CAFT, commented that for his fintech association CAFT, cyber security and compliance with regulations are essential components that all members must adhere to.
“Ensuring customer data is being properly stored can now be helped with the accelerated growth of cloud technologies in the country,” Remi said.
Potential for data localization requirements
Cambodia doesn’t have data localization laws for company data. However, tech experts have forecast increasing regulations are on the horizon, especially for businesses operating in critical infrastructure sectors such as telecommunications and financial institutions.
“While there are no data localization requirements as of yet, we believe that the government and its market regulators may implement some regulatory changes in the short to medium term. Hence, it’s prudent for firms to be prepared early for any transition,” Ainsley said.
“In addition, we forecast that cloud providers such as Alibaba Cloud may start to explore the business case for establishing a data center in Cambodia to fulfill any requirement of data localization regulation and allowing firms to maintain secured cloud data hosting,” he added.
To read more about the importance of data-security for Cambodia firms click here.
Remi concluded that as the head of an association body, he was always looking for the latest regulatory trends and agreed it was best for his members to be ahead of the game and ensure they had the capabilities to meet all requirements.
“The Industrial Revolution 4.0, the Internet of Things, the 5G network, and digitalization are all hot topics that have been brought to the fore after the pandemic forced many businesses to think digital,” Remi added.