PHNOM PENH: Cambodia has launched Tinh Tinh E-commerce, the country’s first state-backed online marketplace, designed to help local businesses sell their products in the global market.
The e-commerce platform, hailed by developers as the country’s biggest, is owned by Cambodia Post E-Solutions Plc -- a venture of Cambodia Post -- Chinese firm ZVS Investment, and local tech company Paxxa Mobile Solutions, the Khmer Times reported on Monday.
According to the developers, Tinh Tinh E-commerce offers a comprehensive and integrated set of online services, acting as a logistics and intermediary agency, among other roles.
Tinh Tinh is Khmer for “buy, buy.” The platform is available in Khmer, English, and Chinese, said Ork Bora, director-general of Cambodia Post.
Bora said the platform was established with an initial capital of US$1.5 million. Cambodia Post, a public enterprise since 2011, holds a 10% stake, while ZVS owns 50%. The rest is owned by Paxxa Mobile Solutions.
“I believe this platform will help local businesses, especially small and medium-sized ones, sell their products online to reach a global market,” he said.
Meas Sopheary, chairman of Cambodia Post E-Solutions PLC, said Tinh Tinh E-commerce is Cambodia’s only certified online marketplace. She said it is the biggest online shopping platform with tens of thousands of quality products on display.
“Cambodia Post E-Solutions PLC has joint the largest digital online market in Cambodia. It will also become one of the most popular online purchase apps in the world,” she said.
Sopheary said local merchants no longer need to worry about the cost of advertising. “Merchants are welcomed to sell their products on our platform,” she said, adding that the company will enter agreements with several banks to ensure that transactions are safe.
“We are working with Cambodia Post and ZTO Express to guarantee the efficiency of our logistics system,” she added.
ZTO is a leading express delivery company in China and one of the largest express delivery companies in the world.
According to the Telecommunications Regulator of Cambodia (TRC), the number of internet users in Cambodia, both mobile internet and fixed internet, rose 31.6% during the first half of the year, and now stand at 15.8 million, equalling 98.5% of the population.
TRC noted that, as of February, Facebook had 7 million users in the country.
Speaking at Friday’s launch, Posts and Telecommuncations Minister Tram Iv Tek said the e-commerce platform will play an important role in developing the country’s digital economy.
“This is an important initiative in line with global economic trends of the digital era,” he said, adding that Cambodia needs more investments in technology to diversify its economy.
“The Cambodian economy used to be heavily reliant on the agricultural sector. Now the industry and service sectors are becoming our economic drivers,” the minister noted.