Cambodia is looking to transform family farming into a strategic production for export in an effort to boost its economy. During a recent meeting with the Chairman of Truong Hai Group Corporation (THACO), Prime Minister Hun Manet announced the government’s goal to welcome both local and foreign investment to further support agriculture and agricultural exports in Cambodia.
THACO briefed Premier Hun Manet on their current business activities in Cambodia, which mainly focus on fruit growing, agro-products, processing plants, and animal husbandry. The company outlined their plan to expand their investment to help promote economic growth and job creation in the country.
Cambodia’s efforts to promote family farming and agrarian economic development have been a priority for the government in recent years. Agriculture is one of the largest sectors in the Cambodian economy, accounting for nearly a third of the nation’s GDP and involving over 80% of the population. Under the leadership of Prime Minister Hun Sen, Cambodia has placed significant focus on expanding its agriculture sector, particularly through the development of smallholder farming.
More than 70% of Cambodia’s agricultural output comes from smallholder farms owned by families. However, these farms often struggle to increase productivity and generate profits due to limited access to finance, technical assistance, and modern technology. The Cambodian government has identified the expansion of smallholder farming as a key component of its poverty reduction strategy, with a focus on promoting sustainable farming practices and value chains that prioritize smallholder farmers.
The government’s new emphasis on export-oriented family farming is expected to bring significant benefits to farmers and the overall economy. By focusing on the production of high-value crops that meet international standards, farmers will be able to access new markets and higher prices for their products. This, in turn, is expected to increase incomes, create jobs, and help drive economic growth in rural areas of Cambodia.
The government’s goal to attract foreign investment in agriculture will also contribute to the development of the sector. Increased investment in modern technology and production methods will enable smallholder farmers to improve yields and gain access to new markets. The government’s promotion of sustainable, family-based farming practices will help ensure that economic growth is both inclusive and environmentally friendly.
Cambodia’s commitment to export-oriented family farming reflects the government’s recognition of the sector’s potential in driving economic growth and poverty reduction. Through collaboration with both local and foreign investors, Cambodia is poised to develop a thriving agriculture sector that will contribute to the country’s long-term economic development.