Cambodia Investment Review
Maybank Cambodia has extended a USD50 million financing facility to Smart Axiata (a subsidiary of Malaysian-headquartered Axiata Group Berhad), to accelerate the strategic development of Cambodia’s digital and telecommunications infrastructure, including 5G connectivity across the country.
The financing highlights a shared commitment between Maybank and Smart Axiata to strengthen the digital foundation that underpins Cambodia’s socio-economic development. Enhancements to infrastructure will among others enable greater access to digital education and remote learning for youths and lifelong learners, financial and payment services, and help businesses including small and medium enterprises (SMEs) adopt digital technologies and ICT solutions, improve productivity, and expand market reach.
Rath Sophoan, Chief Executive Officer and Country Head of Maybank Cambodia said, “This financing facilitates community development and the digital economy in line with Cambodia’s Digital Economy and Society Policy Framework 2021 to 2035, and with Maybank’s ROAR30 sustainability and new economy priorities. We view the new economy as a core pillar of Cambodia’s national agenda, in addition to being a key driver of ASEAN’s growth to accelerate the shift toward high-impact, high-value sectors. This collaboration with Smart Axiata represents our first new economy-aligned financing in Cambodia, underscoring Maybank group’s ROAR30 strategic plan to mobilise RM100 billion (USD25 billion) in new economy initiatives and RM300 billion (USD75 billion) in sustainable finance by 2030.”
Building on this partnership, Smart Axiata is progressing its network development efforts to meet Cambodia’s growing demand for reliable and future-ready connectivity.
Ritesh Kumar Singh, CEO of Smart Axiata said, “Connectivity is at the core of everything we do. It is how we enable people’s lives and support Cambodia’s long-term growth. This financing from Maybank Cambodia allows us to accelerate investments in 5G and digital infrastructure, expanding access so more Cambodians can learn, work, and grow. Aligned with national priorities, we aim to bring the new internet to every Cambodian, unlocking opportunities for people, businesses, and the broader economy to thrive in an increasingly digital era through future-ready infrastructure, while helping to bridge the digital divide.”
Dato’ John Chong, Group Chief Executive Officer of Global Banking, Maybank added, “Sustained investments in enhancing local connectivity will in turn attract investments into Cambodia, create jobs and contribute towards meaningful regional integration. This partnership with Smart, a subsidiary of Axiata Group Berhad, reinforces Maybank’s broader ASEAN aspirations of connecting the dots, navigating cross-border opportunities for clients, while delivering social impact.”
Maybank and Smart Axiata will continue to deepen their collaboration, advancing Cambodia’s connectivity-enabled development and ASEAN’s regional progress.
