PM Hun Manet has announced a series of tax exemptions for farmers and investors in the agriculture sector over the next nine years, aimed at attracting greater investment and boosting exports.
In a bid to stimulate investment in the Cambodian agriculture sector, the Prime Minister has announced that farmers and investors will benefit from a series of tax exemptions over the next nine years. This initiative is designed to enhance the country's capacity for importing and exporting agricultural products.
Between 2023 and 2024, Cambodia received 17 projects worth $450 million in the agriculture sector. Hun Manet stated that the total investments nationwide are beneficial for rural areas and farmers' needs, especially the development of infrastructure, water systems, hospitals and technical support while they are operating their works.
Samdech Thipadei emphasised the Royal Government's ongoing commitment to addressing farmers' challenges. He observed that while he may not have issued public statements recently, he has been actively monitoring the situation and issuing instructions to ministries and relevant institutions to find solutions and provide assistance to farmers.
"I would like to inform the public that although I have not delivered a daily update or responded to external comments, the Royal Government, in conjunction with the ministries and specialised institutions, has not been silent or indifferent. Agriculture is a critical priority for our country and the global community," the PM emphasised.
At the inauguration of the newly established village "Bun Rany Sen Chey Damnak Troyeung" in Pro'ngel commune, Phnom Kravanh district, Pursat province, Samdech Thipadei emphasised the global significance of agriculture, highlighting that as long as people need food, agriculture and food security will remain at the forefront of the Royal Government's agenda. He also noted that food security is not just a national concern but a pressing issue for many countries around the world.
In this regard, the Royal Government of Cambodia acknowledges the concerns of farmers and is committed to addressing their challenges. The government will continue to support efforts to identify and resolve the issues faced by farmers.
To address recent concerns, Samdech Thipadei Hun Manet emphasised the Royal Government's allocation of USD 150 million for the direct purchase of rice from farmers. Furthermore, the government has called upon financial institutions to offer low-interest loans to rice millers, with a view to helping them purchase rice from farmers, thus further stabilising the agricultural sector.
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