PHNOM PENH- Don’t echo fake news, Chea Serey tells business publishers

Director-General of the National Bank of Cambodia Chea Serey and Senior Minister Ly Thuch launch the business weekly yesterday. KT/Mai Vireak

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Business publishers should refrain from joining other media reports to echo news that could potentially harm business confidence or create panic among fund suppliers, credit suppliers and borrowers, said Chea Serey, Director-General of Central Banking at the National Bank of Cambodia.

“Business publishers should take fake news seriously by using various innovative and creative tools to address the problem at all cost so as to maintain a continued and consistent flow of reliable business news reports,” Ms Serey said when launching Khmer Times’ inaugural business newspaper – Capital Cambodia.

In today’s fast-moving society, keeping up with new developments has become a challenge and the widespread presence of fake news is not making it any easier.

In commending Khmer Times’ latest venture, Ms Serey encouraged the publication and other business news outlets to continue investing in enhancing the knowledge of reporters in the economic and financial sectors.

“At the same time, I would like to encourage reporters to seek clarification from us when they are not clear so as to avoid any misinterpretation,” she added.

“While the usage of social media allows us to freely express our opinions, one should not mistake these opinions for verified facts,” she said, urging the public to evaluate news critically to avoid unintentional distribution of wrong information.

Similarly, the quality of business information is important for the daily operation of the business community, who is the first target audience of business news.

“Up-to-date or timely business news publication plays a crucial role helping entrepreneurs, employees, and investors be well aware of changing trends as well as the present economic and financial situations which can have a significant influence on businesses. It also provides them with innovative ideas and well-rounded perspectives to develop their business strategy,” she said.

Thus, maintaining continued and consistent quality business information requires that information sources are highly reliable.

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Ms Serey advised reporters to use multiple sources and to be impartial.

She opined that the role of media is not to judge but to inform the public in an impartial and responsible manner.

“Business information should be frequently cross-checked with other credible news reports. I think these are the core foundations for building a strong business publication and gaining trust from the public, particularly the business community,” she added.

Capital Cambodia, which hits the streets today, is a dedicated weekly that aims to help readers keep their finger on the pulse of economic, business, investment and trade related issues in Cambodia and the region.

The publication, which will be available every Friday in print and online, is committed to providing in-depth and analytical stories.

It will be available in Phnom Penh and major cities, including Siem Reap, Sihanoukville, Kampot and Kep.

Meanwhile, Ms Serey who officiated the launch by smashing an ice block which held the first issue, said she believed Capital Cambodia will highlight important issues in the Cambodian economic and financial sectors.

The publication comes on the heels of its sister titles – Good Times2 and Youth Today.

“After almost five years from the launch of Khmer Times, we felt it was time for Cambodia to have its own business publication,” said the publisher, adding that Cambodia’s economic success was a motivating factor.

“As the saying goes, news, unlike wine, does not improve with age but can be improved by better information gathering and publishing it week after week, as a lot can happen in seven days. Every event tells a story and we are committed to bringing you news before the market knows.

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“This event that brings us together today makes me elated in a special way. It is our unrelenting desire to contribute towards building an information gateway for all segments of Cambodia’s diaspora, from the youth with Youth Today to leisure and entertainment with Good Times2. Capital Cambodia launched today and eventually, in coming weeks, will be followed by a fifth title,” he added.