AKP Phnom Penh, May 23, 2025 --

H.E. Hem Vanndy, Minister of Industry, Science, Technology & Innovation, received at the ministry on May 23 Ms. Lisa Sargent, Visa Country Manager for Cambodia, to discuss opportunities for collaboration in SME development and support for the informal economy.

During the meeting, Minister Vanndy commended Visa’s evolving role in Cambodia, noting that its contributions go beyond payments to include support for entrepreneurship and local innovation.

He highlighted the government’s efforts in developing the informal economy and the importance of financial inclusiveness for the growth of small and medium enterprises (MSME)

Ms. Sargent, who also serves on Visa’s Southeast Asia leadership team, highlighted Visa’s work with the Ministry of Tourism, the National Bank of Cambodia on Bakong and financial literacy initiatives, and the Ministry of Women’s Affairs to empower women entrepreneurs.

“We want to have a meaningful impact in Cambodia,” she said, emphasising Visa’s interest in working with MISTI to better understand the needs of micro, small, and medium enterprises (MSMEs) and the informal economy.

According to the Ministry of Industry, Science, Technology & Innovation, the meeting also explored how Visa could contribute to the government’s efforts in developing the informal sector through digital literacy, inclusive financial solutions, and data-driven insights for risk assessment.

H.E. Hem Vanndy encouraged Visa to collaborate with banks and take the lead in an initiative focused on credit rating and profiling for the informal economy. “The goal is to facilitate affordable financing for informal economy actors and help them avoid falling into loan shark traps,” he said.

Visa is a global payments technology company with a presence in over 200 jurisdictions worldwide.

AKP