PHNOM PENH, September 11, 2024 — On Tuesday, September 10, 2024, Prime Minister Hun Manet presided over the closing ceremony of the 7th Cambodia Rice Forum at the Sofitel Phnom Penh Phokeethra Hotel.

During his speech, Prime Minister Hun Manet reaffirmed the Royal Government’s unwavering commitment to the agricultural sector across all government mandates, including the current seventh mandate. He outlined three key priority programs aimed at strengthening Cambodia’s agricultural sector:

Promoting agricultural production, securing markets, and maintaining stable product prices through financial support programs.

Deploying agricultural officials to communes and sangkats.

Developing modern agricultural communities.

These programs have already seen significant progress. The government has implemented a $100 million financing initiative to stabilize rice prices. Additionally, 250 agricultural officers have been recruited and trained, with plans to select 1,000 more next year. These officers will be deployed to provide technical support to farmers, helping to set standards, improve efficiency, reduce production costs, and boost productivity, ultimately increasing farmers' incomes. As for modern agricultural communities, eight have already been established, covering nearly 2,000 hectares, including rice-producing communities.

Hun Manet also highlighted how the Royal Government has supported citizens during volatile economic times through two main approaches: cash subsidies and tax relief.

First, the government has introduced cash assistance programs for vulnerable groups. In response to the COVID-19 crisis, over 700,000 families—equaling approximately 2.8 million people—received financial aid, with the total cost surpassing $1.4 billion. Currently, a social assistance program targeting more than 560,000 families is in place, alongside additional support for pregnant women and children under two years old.

Second, the government has provided tax exemptions and reductions for the private sector, especially in agriculture. This includes annual tax exemptions on agricultural land and economic land concessions, as well as preferential tax treatment for agricultural enterprises. Furthermore, exemptions on value-added tax (VAT) apply to unprocessed agricultural products, while duties on the import of essential items like fertilizers, seeds, and animal feed have been reduced.

Prime Minister Hun Manet emphasized the Royal Government’s ongoing commitment to favorable policies that will continue to strengthen Cambodia’s agricultural sector and ensure its sustainable development.