PHNOM PENH (XINHUA) – Cambodian Prime Minister Hun Manet yesterday launched a stimulus package of USD100 million to boost the development of the agricultural sector.
“Agriculture remains our priority, and the stimulus package aims to maximise the potential of the agricultural sector and to increase our production and competitiveness,” he said at the launching event.
The stimulus package will also be used to seek new international markets for agricultural products and help stabilise the prices of potential agricultural products for farmers, he added.
“It will contribute to strengthening food security, improving farmers’ livelihoods, reducing consumers’ expenses and supporting the kingdom’s economic growth,” Hun Manet said.
He added that the government will deploy some 250 agricultural officials to all communes across the Southeast Asian nation to assist farmers directly.
Agriculture is one of the four pillars supporting Cambodia’s economy. Main agricultural items for exports included rice, rubber, cassava, mangoes, bananas, pepper, cashew nuts, corn and palm oil.