Singaporean fintech player leading local SMEs into major One Belt One Road Smart City Project
Singapore, 27th Aug, 2019
Singaporean blockchain firm PLMP Fintech will bring next week a first batch of local SMEs and entrepreneurs to Cambodia for an exploration tour of its upcoming Creatanium Blockchain Smart City in the outskirts of capital Phnom Penh, which will include an official reception with the Republic's Ambassador in the Kingdom Michael Tan.
PLMP Fintech's Smart City is a major development that will be rolled out in three phases within the Kong Pisei Special Administrative and Economic Zone, an area encompassing more than 1 million square metres that received the green light from the Kingdom's Government and Development Council (CDC) as a key Sino-Cambodian agricultural and industrial cooperation project within the One Belt One Road initiative.
Among an industry and trading core zone, demonstration parks and a food and agriculture base, one fifth of the land has been allocated to PLMP Fintech for the construction and management of a residential cluster with condominium, semi-detached, detached and terrace units for the SEZ's population of Cambodian professionals and international expats. The area will also include shophouses and a shopping mall to host the linked service industry.
"We have a city, a population and the associated business activities: the ideal ground to implement our suite of blockchain solutions, ranging from property management through smart contracts to e-payments", explains Peter Lim, PLMP Fintech's strategist who has purposely left the digital applications to the very last phase. "Even the best technology alone is not sufficient to bring a vision to reality: this is why so many such projects have failed to materialise out of the papers".
As construction works proceed, PLMP Fintech is already eyeing an expansion of its own Creatanium blockchain beyond the residential and commercial area to the rest of the SEZ, whose daily processing and transiting of agricultural products would benefit from secured tracking and the price standardisation achieved through the commodities trading platform that the Singaporean firm has successfully developed for Indonesia.
In line with its founding vision to create real and virtual networks that can benefit small and medium enterprises (SMEs), PLMP Fintech has partnered with CSME, a platform that gathers businesses across the region to facilitate their overseas expansion and whose focus is now on the upcoming Smart City and the diversified opportunities it offers to serve a population of thousands.