The Council for the Development of Cambodia (CDC) has recently highlighted a range of incentives for investors who contribute to skills development training for their employees within the nation. This initiative is part of a broader effort to enhance the skill sets of the Cambodian workforce, in line with the Kingdom’s Investment Law which encourages such developmental investments.
During a meeting with a delegation from Pragma Corporation, an international consultancy specializing in development, Sar Senera, the Deputy Secretary General of the Cambodian Investment Board at the CDC, emphasized these opportunities. Pragma, under the guidance of Senior Advisor Henri Stetter, is exploring Cambodia’s investment landscape and workforce requirements to lay the groundwork for the ‘Employ’ project, sponsored by the United States Agency for International Development (USAID).
The ‘Employ’ project aims to foster skill development across crucial economic sectors and enhance vocational training in partnership with the private sector. This is to ensure the workforce meets employer demands efficiently. The initiative is part of USAID’s strategy to prepare the Cambodian workforce with the necessary skills for sustainable growth and economic diversification, with a focus on future-ready sectors like the green economy, STEM, digital technology, and manufacturing.
Prime Minister Hun Manet recently highlighted the government’s commitment to improving the investment environment, noting the registration of 173 investment projects worth $4.15 billion in the last six months, which are expected to create over 170,000 jobs. This reflects the confidence of international investors in Cambodia’s potential and the government’s efforts to foster socio-economic growth and employment.
Furthermore, Cambodia is undertaking a substantial skills training program targeting 1.5 million youths from disadvantaged backgrounds, aiming to enhance their employment prospects. This move addresses the Asian Development Bank’s findings on the low percentage of Cambodians in technical occupations and the reliance on foreign expertise due to a lack of skilled local workforce.
With a youthful population and low completion rates for higher education, Cambodia faces challenges in labor productivity compared to regional counterparts. The government, in collaboration with public and private sectors, is focused on tackling these issues by promoting skills education and workforce development, underscoring the critical role of investor participation in this transformative agenda.
