The Royal Government of Cambodia (RGC) has laid out an ambitious agenda for economic growth and job creation through a three-year Public Investment Programme (PIP), dedicating $11.69 billion to the completion of 617 projects. This strategic initiative was announced by Prime Minister Hun Manet during the 6th Plenary Meeting of the Council of Ministers.
Prime Minister Hun Manet highlighted recent economic developments, noting the registration of 173 investment projects with the Council for the Development of Cambodia (CDC) over the past six months. These projects, encompassing new, ongoing, and expansion initiatives, represent over $4 billion in investment and are expected to generate 177,000 jobs.
The meeting’s agenda included the review and approval of several key documents, such as the Draft of National Policy to End AIDS and Sustainable AIDS Program for 2023-2028, the Draft of the Public Investment Program for 2025-2027, and the Draft Sub-Decree on the Organization and Functions of the State Secretariat of Civil Aviation (SSCA).
The PIP, integral to Cambodia’s National Strategic Development Plan for 2024 to 2028, is designed as a three-year rolling plan initiated in 1996 to prioritize national development objectives. The Prime Minister also outlined six major achievements under the government’s policy priorities, including the expansion of social security and health equity funds, vocational and technical training for 1.5 million adults from underprivileged backgrounds, and the establishment of the National Social Assistance Programme (NSAP) for families in need.
Other accomplishments include efforts to promote informal economic development, coordination mechanisms to enhance agricultural production and market access, and the deployment of agricultural technical officers across the nation to support rural development.
Addressing criticisms regarding overseas investment efforts, Hun Manet emphasized the complexities and timeframes involved in securing and operationalizing foreign investments. He encouraged those seeking detailed information on investments, trade capacities, and tourism statistics to consult directly with the respective ministries.
The PIP encompasses 617 projects, including 173 ongoing projects requiring $4.67 billion and 444 new projects aligned with the National Strategic Development Plan, demanding an additional $7.01 billion. This comprehensive investment strategy underscores Cambodia’s proactive approach to fostering sustainable development and economic resilience.
