Phung Viet Thang, deputy general director of FPT IS, makes a speech at the launching ceremony of the financial management information system in Cambodia. — Photo courtesy of FPT Corporation

PHNOM PENH (Biz Hub) — FPT Information System (FPT IS) on July 20 launched the financial management information system (FMIS) for the National Treasury of the Royal Government of Cambodia.

This is the first information technology system to be deployed on a nationwide scale in Cambodia. The project is expected to become operational in eight subsidiaries of the economy and finance ministry of Cambodia by the end of 2015, and at 25 provincial treasury offices by March 2016.

Two fundamental modules of FMIS, general ledger and budget allocation, will become operational in July 2015. The remaining modules such as accounts payable, accounts receivable, purchase order and cash management will be launched later this year.

FMIS is expected to equip the economy and finance ministry of Cambodia with a centralised database and application system, supported by real-time updates. Thanks to the system, the Cambodian government and the ministry can keep track of key financial indicators, which directly affect the national economy, to make timely decisions and issue macroeconomic policies.

Speaking at the launching ceremony, Cambodian Minister of Economy and Finance Aun Pornmoniroth said the system would improve the quality of financial transactions and accelerate decision-making processes. He said the system provided a useful tool to support the reform of budget allocation, in particular, and public finance management of the royal government, in general.

FPT IS Deputy General Director Phung Viet Thang said, "The FMIS project will modernise the public financial management system of the Royal Government of Cambodia and will ensure transparency in management, limit issues and ensure financial security. This project is expected to help the Cambodian economy and finance ministry to strengthen the government's capacity in executing its budget and its efficiency in forecasting cash flow, enabling them to manage financial resources effectively."

The event also marked the opening of the largest and best-equipped data centre and disaster recovery centre in Cambodia. Thanks to support from the disaster recovery centre, the customs system will operate online and meet all requirements of projects.

FMIS is the first foreign project in which FPT IS is a prime contractor.

FPT IS and the economy and finance ministry of Cambodia initiated the US$10-million FMIS project, financed by the World Bank, in January 2014. The project was implemented within 26 months and will be maintained for the next two years by FPT IS. — VNS