Logo of Phnom Penh Post newspaper Phnom Penh Post - Saudi loan to develop workforce

Saudi loan to develop workforce

Saudi loan to develop workforce

The Ministry of Labour hopes to use a new $20 million loan from Saudi Arabia to develop the country’s workforce.

Yousef Ibrahim Al-Bassam, vice president and managing director of the Saudi Fund for Development, led a delegation to Phnom Penh yesterday to discuss plans for the loan. The Saudi Fund is a government agency that sends bilateral aid to developing countries.

Ministry of Labour Secretary of State Pich Sophoan said that while every ministry will have a chance to apply for portions of the loan, which comes with 1 percent interest, he hopes to use some to build vocational and training centres in Cambodia.

“About 300,000 people are jumping into the workforce every year, but we have only been able to keep 200,000 people at the centres,” Sophoan said.

The meeting also raised questions about the status of a proposed deal to reopen the pipeline of Cambodian migrant workers to the gulf nation. The two countries signed an agreement in 2016 to begin work on a final memorandum of understanding, but more work remains.

“Our minister already went [to Saudi Arabia] and signed the MoU, but to send the workers there needs to be an agreement from both sides,” he said.

MOST VIEWED

  • US think tank warns of China's 'ulterior motives'

    A US think tank on Tuesday warned that spreading Chinese investment in the Indo-Pacific follows a pattern of leveraging geopolitical influence at the expense of the nations receiving investment, including Cambodia. The report looks at a sample of 15 Chinese port development projects, noting that the

  • Defence Ministry denies weapons in smuggling case came from Cambodia

    After a Thai national was arrested last week for allegedly smuggling guns from Cambodia to Thailand, Cambodia's Defence Ministry has claimed the weapons seized during the arrest are not used in Cambodia, despite the fact that both types of rifle seized are commonly found in

  • More than three tonnes of ivory reportedly bound for Cambodia seized in Mozambique

    A total of 3.5 tonnes of ivory reportedly bound for Cambodia was seized by authorities in Mozambique late last week, according to the NGO Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES). CITES' information was based on a report from the

  • Shipwreck found off coast of Koh Kong

    Royal Cambodian Navy researchers are working to identify a decades-old shipwreck found earlier this month off the coast of Koh Kong province. Divers found the 70-metre-long wreck on April 4 about a mile from Koh Chhlam island, according to Navy officials. Deputy Navy Commander Tea Sokha,