November 6, 2024, Phnom Penh – In a pivotal step toward enhancing Cambodia’s workforce capabilities, the Ministry of Labour and Vocational Training (MLVT) and Overseas Cambodian Investment Corporation (OCIC) signed a Memorandum of Understanding (MoU) on November 4, 2024. This agreement, formalized during a ceremony at the Olympia Medical Hub in Olympia City, brings together the public and private sectors in a shared mission to equip Cambodian workers with the skills needed to thrive in growing industries. The event featured notable attendees, including H.E. Heng Sour, Minister of Labour and Vocational Training, and Dr. Lim Lina, Vice Chairperson of OCIC.
This partnership highlights both parties’ commitment to strengthening Technical and Vocational Education and Training (TVET) programs across the nation. The MoU signifies a coordinated approach to bridge the gap between education and the workforce, ensuring that young Cambodians gain access to industry-relevant training. Through this collaboration, MLVT and OCIC aim to provide skill-building opportunities that will prepare workers for careers in vital sectors like construction, engineering, real estate, hospitality, and infrastructure development. Such training programs are designed to keep pace with industry advancements, preparing workers to meet the demands of an evolving job market.
In addition to the agreement with OCIC, MLVT also signed MoUs with Intercare Hospital and Canadia Bank Plc., further strengthening the country’s workforce development initiatives. Following the signing, officials toured the facilities at Intercare Hospital, one of the healthcare institutions involved in the partnership, showcasing the resources available to support training in healthcare and related fields.
This initiative is particularly timely given Cambodia’s demographic profile, with around 150,000 individuals entering the workforce each year. To meet the growing demand for skilled professionals, MLVT has set ambitious goals, aiming to train and provide career development opportunities to 1.5 million people across Cambodia. Through TVET programs, MLVT seeks to broaden access to quality education and skills training, empowering a generation to succeed in roles that require specialized knowledge and practical expertise.
The private sector’s involvement, represented by OCIC, is crucial in bridging educational outcomes with the needs of employers. By participating in this partnership, OCIC is not only helping to address Cambodia’s capacity-building challenges but also reinforcing its role in the nation’s economic development. Commenting on the significance of the collaboration, H.E. Heng Sour emphasized, “This Memorandum of Understanding exemplifies how the public and private sectors can collaborate to serve the long-term interests of the nation and its people, thereby fulfilling the principles of corporate social responsibility (CSR).”
OCIC, a leading Cambodian conglomerate established 24 years ago, employs over 17,000 people and operates across multiple industries, from real estate to infrastructure. Recognizing the critical role of education in career development, OCIC has consistently invested in internal training programs and educational institutions. Among these are CamTech University, the Canadian International School (CIS), and Ecole Française Internationale (EFI), which are dedicated to equipping students with academic and practical skills relevant to Cambodia’s labor market.
Thierry Tea, Vice President of OCIC, underscored the organization’s commitment to education and job creation, citing the entrepreneurial vision of OCIC’s founder, Lok Neak Oknha Dr. Pung Kheav Se. “This collaboration is a natural extension of our ongoing efforts in developing schools and universities, and we are honored to contribute to TVET programs to support the growth of a skilled workforce in Cambodia,” he stated. Tea’s remarks reflect OCIC’s dedication to fostering job readiness and expanding career paths for Cambodian youth.
OCIC’s workforce includes a mix of local and international talent, with over 250 foreign professionals contributing to the organization’s operations, representing 1.5% of the overall workforce. This international exposure brings diverse expertise into Cambodia’s talent pool, offering local employees a chance to learn from seasoned professionals. Additionally, a number of OCIC’s employees are Cambodian returnees who have pursued education or careers abroad, bringing valuable global perspectives and skills back to Cambodia.
By aligning educational programs with the requirements of the job market, MLVT and OCIC are paving the way for a more resilient and competitive workforce. The collaboration stands as a significant milestone in Cambodia’s journey toward inclusive economic growth, demonstrating the importance of partnerships in creating sustainable career opportunities. As Cambodia’s economy continues to grow, such initiatives will be instrumental in building a future-ready workforce capable of meeting the challenges of tomorrow.
