Prime Minister Hun Manet Announces $11.7B Public Investment Program
The Cambodian government has laid out a USD $11.69 billion Public Investment Program (PIP) comprising 617 projects for a three-year rolling plan from 2025-2027. The plan was revealed during the Plenary Meeting of the Council of Ministers on March 15, 2024.
According to a government press release, the ‘Draft Three-Year Rolling Public Investment Program (2025-2027)’ is a policy tool for the implementation of the ‘National Strategic Development Plan 2024-2028’, proposing public investment projects that can meet the priorities set out in the first phase of the Pentagonal Strategy and the National Strategic Development Plan (NSDP).
The strategic plan is coordinated and led by the Ministry of Planning with input made by all Cambodian ministries and government institutions. The release stated that among the 617 projects, 173 are already underway with a total capital of USD $4.67 billion. The remaining 444 projects will require a capital of roughly USD $7.01 billion to complete.
Prime Minister Hun Manet shared that in the last six months, Cambodia saw 173 investment projects register with the Council for the Development of Cambodia (CDC), including new, existing, and expanding projects, with a total budget worth over USD $4 billion. These projects are said to be creating around 177,000 job opportunities.
In late 2023, the government drafted its national budget, which included plans to spend nearly USD $800 million on key policy programs in 2024, spanning various sectors including health, technical and vocational education and training (TVET), social protection, informal economy integration, and agricultural support.
Social Security And Health Equity Funds In Cambodia
At the March 15 plenary meeting, the government reported that Cambodia's social security and health equity funds have so far reached at least 6.8 million people.
The National Social Security Fund (NSSF), for instance, covers 2.1 million people both under its compulsory and voluntary regimes. Other funds and social security include:
- The equity fund for 490,000 vulnerable families (or 1.8 million people)
- The equity fund for poor families (classified under ‘IDPoor 1’ and ‘IDPoor 2’) reaches 700,000 families (or 2.8 million people)
- The government has also expanded its social security coverage to more than 100,000 people in the informal economy.
Rollout Of TVET And Agricultural Support Programs In Cambodia
Regarding TVET for young people from poor and vulnerable families, the government shared that 27,949 young people have thus far registered – out of a target of 1.5 million people – of which more than 12,000 are being trained for free with a monthly allowance of 280,000 riel (approximately USD $70) per month.
Additionally, the government reported that it has successfully deployed 250 agricultural technical officers in its first phase of the rollout, which should reach 800 in the second phase. The plenary meeting also outlined a plan for the drafting of the National Policy on HIV/AIDS, as well as for establishing a Sustainable AIDS Program from 2023-2028.
The government has also released the Draft Sub-Decree on the Organisation and Function of the State Secretariat of Civil Aviation (SSCA), committing to compliance with standards set by the International Civil Aviation Organisation (ICAO).