PHNOM PENH, Oct. 21 (Xinhua) -- South Korea on Friday signed an agreement with Cambodia to help establish a master plan for agricultural investment promotion agency.
The deal was signed between San Vanty, undersecretary of state of the ministry of agriculture, forests and fisheries, and Shin Eui-Cheol, the representative of Korea International Cooperation Agency (KOICA) to Cambodia.
Through the agreement, KOICA will provide 1 million U.S. dollars to Cambodia to establish the master plan, according to KOICA's press release.
It said that during the first 18 months of the three-year period 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 in Cambodia.
"The objective of this project is to contribute to the enhancement of Cambodia's agriculture sector by improving domestic and foreign investment promotion in agriculture development," it said.
It is also to improve the capacity of human resources in the field of the agro-industry and domestic-foreign investment promotion by transferring South Korea's experience and know-how.
Agriculture sector plays an important role in Cambodian socio- economic development, but this sector faces difficulties in promoting both domestic and foreign investment because there is lack of information.
"We hope that the master plan will be a road map for agriculture investment promotion in Cambodia," said the statement.
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