The Ministry of Economy and Finance and UN Capital Development Fund (UNCDF) signed a Memorandum of Understanding (MoU) on August 18 covering a three-year span to support capacity building and promote the Law on Public and Private Partnership (PPP) and related legal provisions.
The MoU was signed between Phan Phalla, secretary of state at the Ministry of Economy and Finance, and Preeti Sinha, executive secretary of UNCDF, to supplement the existing MoU signed in 2019.
Phalla said that Cambodia has put in place a strategic framework for economic recovery for 2021-2023, in which public-private partnerships have also been included.
He said that after the Law on Public and Private Partnership was promulgated in November 2021, the government also put into use standard operating procedures for developing and managing public-private partnerships in the near future.
“Based on this, the Ministry of Economy and Finance and UNCDF will continue to cooperate on supporting the preparation of public investment projects through PPP to contribute to economic recovery in Cambodia,” he said.
He also urged relevant ministries and institutions to support public investment projects made possible by the implementation of PPP. He also thanked UNCDF for supporting Cambodia on public infrastructure development and skill development for public investment projects, through the PPP.