Search

Search form

Logo of Phnom Penh Post newspaper Phnom Penh Post - Government lays out three-year plan for $5.4B public investment

Government lays out three-year plan for $5.4B public investment

Government lays out three-year plan for $5.4B public investment

Cambodia will need to spend about $5.4 billion on public investment over the next three years to maintain its economic growth while reducing poverty, according to a draft outline of the government’s three-year programme for public investment.

The government has budgeted $1.91 billion for public investment in 2018, $1.78 billion in 2019 and $1.71 billion in 2020, the document signed by the Council of Ministers and posted on the prime minister’s Facebook page on Friday said.

Phay Siphan, spokesman of the Council of Ministers, said yesterday that the programme was part of the government’s five-year national strategic development plan and will be used to ensure that only projects outlined in the draft document are considered for funding during formulation of the national budget.

“In November this year, the government will prepare the national budget for 2018 to submit to the National Assembly for approval, so the result of this public investment planning will be used as a basis for preparing the national budget in 2018,” he explained.

Siphan added that the programme, which covers public investment over a three-year period through 2020, was specifically designed to maintain Cambodia’s seven percent annual economic growth rate while reducing poverty by 1 to 2 percent annually.

The programme recognises 586 development projects, of which 166 are already under implementation and require an additional $2.53 billion to complete. Another 420 projects are to be carried out at a cost of $2.88 billion.

The projects are spread across various the economic, social affairs and service sectors, and with about a quarter of the budget going to infrastructure.

Development partners are expected to contribute $2.91 billion towards the $5.4 billion programme, with the Cambodian government pitching in $537 million. An additional $1.96 billion will be needed, according to the draft document.

Siphan said the remaining funds would likely come from government revenue, loans or grants.

RECOMMENDED STORIES

  • Breaking: PM says prominent human rights NGO ‘must close’

    Prime Minister Hun Sen has instructed the Interior Ministry to investigate the Cambodian Center for Human Rights (CCHR) and potentially close it “because they follow foreigners”, appearing to link the rights group to the opposition Cambodia National Rescue Party's purported “revolution”. The CNRP - the

  • Rainsy and Sokha ‘would already be dead’: PM

    Prime Minister Hun Sen on Sunday appeared to suggest he would have assassinated opposition leaders Sam Rainsy and Kem Sokha had he known they were promising to “organise a new government” in the aftermath of the disputed 2013 national elections. In a clip from his speech

  • Massive ceremony at Angkor Wat will show ‘Cambodia not in anarchy’: PM

    Government officials, thousands of monks and Prime Minister Hun Sen himself will hold a massive prayer ceremony at Angkor Wat in early December to highlight the Kingdom’s continuing “peace, independence and political stability”, a spectacle observers said was designed to disguise the deterioration of

  • PM tells workers CNRP is to blame for any sanctions

    In a speech to workers yesterday, Prime Minister Hun Sen pinned the blame for any damage inflicted on Cambodia’s garment industry by potential economic sanctions squarely on the opposition party. “You must remember clearly that if the purchase orders are reduced, it is all