KOICA Provides 1 Million USD to Establish Master Plan for Agricultural Investment Promotion in Cambodia

KOICA News Release: translate from local newspaper

Kohsantepheap Daily Newspaper

Year 44 Volume 7396, Monday, October 24, 2011

(Photo): The Signing Ceremony on Master Plan.

Phnom Penh: Korea International Cooperation Agency (KOICA) and the Ministry of Agriculture, Forestry and Fisheries launched a signing ceremony on Record of Discussion for the project for the Establishment of Master Plan to Install Coordination Agency Specializing in Agricultural Investment Promotion on Friday, October 21, 2011 at Cabinet of the Ministry of Agriculture, Forestry and Fisheries with the total budget of 1 million USD.

The Record of Discussion was signed by H.E. SAN Vanty, Under Secretary of State of MAFF, and Dr. Shin Eui-Cheol, Representative of KOICA Cambodia Office with the participation of KOICA delegates and MAFF’s officials.

The objective of this project is (1) contribute to enhancement of the agriculture sector of the Kingdom of Cambodia  reflected in the national agenda by seeking ways to improve domestic and foreign investment promotion in agriculture development, (2) draw a master plan to install the coordination agency to promote agricultural investment in Cambodia; and (3) improve the capacity of human resources in the field of the agro-industry and domestic-foreign investment promotion by transferring Korea’s experiences and know-how.

During 18 months within three years from 2011~2013, this project is expected to draw a well-organized Coordination Agency specializing agriculture development, and enhance capacity in the field of agriculture development and investment promotion.

Be reminded that, Agriculture sector plays an important role in Cambodian socio-economic development, but this sector faces the difficulty in promoting both domestic and foreign investment because there is no enough information to be provided clearly. Therefore, through this project we hope that one master plan will be established which will be road map for agriculture investment promotion in Cambodia.