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PHNOM PENH, Aug. 19 -- Cambodia has launched Tinh Tinh E-commerce, the country's first state-backed online marketplace, a daily English newspaper reported on Monday.

The e-commerce platform, hailed by developers as the Kingdom'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.

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, Director-general of Cambodia Post Ork Bora said.

Bora said the platform was established with an initial capital of 1.5 million U.S. dollars. Cambodia Post, a public enterprise since 2011, holds a 10 percent stake, while ZVS owns 50 percent. 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 was quoted as saying by the newspaper.

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.

Speaking at Friday's launch, Tram Iv Tek, minister of posts and telecommunications, 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 said.