Cambodian Prime Minister Samdech Techo Hun Sen and Huawei's Vice President Li Jin'ge witnessed the signing ceremony, which was held in Beijing.
Hun Sen is in Beijing to attend the second Belt and Road Forum for International Cooperation which concluded on Saturday.
"Huawei believes that 2019 will be the first year of Cambodia's 5G development," the release said. "The two sides will join hands together for creating a good ecosystem for Cambodia's 5G development and help Cambodia become a 5G pioneer in the ASEAN (Association of Southeast Asian Nations) region."
Huawei is willing to bring the latest 5G technology and products and to share 5G global practical experience to Cambodia, it said, adding that the tech giant is also committed to improving the level of Cambodia's digital infrastructure, building digital Cambodia and bracing for the Industrial 4.0 Revolution.
The release said that so far, Huawei has harvested 40 5G commercial contracts worldwide in the 5G field.
Prior to the signing ceremony, Hun Sen met with Li, and both sides had in-depth exchanges about the development of Cambodia's digital economy and digital transformation.
During the meeting, Hun Sen said Cambodia hopes to make full use of the latest technologies to improve the Internet speed, according to the release.