Siem Reap Times

Monday, Apr 29, 2024

Cambodia's Prime Minister Announces $100 Million Investment in Agriculture

Prime Minister Hun Manet's Investment Aims to Ensure Price Stability Amidst Global Market Fluctuations
Prime Minister Hun Manet has unveiled a significant financial commitment to bolster Cambodia's agricultural sector. During the inauguration ceremony of the Kirisu Dairy Farm in Takeo province, Prime Minister Manet announced a substantial 100 million dollar investment aimed at stabilizing agricultural prices amidst global market fluctuations.

Acknowledging the challenges faced by farmers due to volatile agricultural prices, Prime Minister Manet reiterated the government's dedication to ensuring price stability. He emphasized the pivotal role of the agricultural sector in the nation's economy and underscored the government's continued support for enhancing production quality and balancing the agricultural market, with a particular focus on strategic crops.

This funding announcement aims to reassure both farmers and investors in the agricultural sector, signaling the government's commitment to fostering an environment conducive to agricultural ventures amid market uncertainties.

Prime Minister Manet also expressed gratitude towards Khmer Fresh Milk Co., Ltd., and other companies for their investments in the dairy farming sector. Cambodia currently boasts four dairy farms housing nearly 1,200 dairy cattle, significantly contributing to meeting the country's dairy demand.

Despite the progress in local dairy production, Cambodia's reliance on imported fresh milk remains high, prompting the government's initiative to reduce dependency on imports by bolstering the domestic agricultural and dairy industries. This move is expected to pave the way for a more self-sufficient and stable agricultural market in Cambodia.
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