Ministry launches trust fund for skills development

PHNOM PENH: The Ministry of Economy and Finance and partners have launched the upgrade of the piloted Skills Development Fund (SDF) into a trust fund to expand and sustain its services in enhancing Cambodia's labour force for economic diversification.

According to the ministry's press release, the launch took place on Jan. 30 in Phnom Penh under the auspices of Deputy Prime Minister and Minister of Economy and Finance .

Initiated and successfully piloted by the Ministry of Economy and Finance and partners since March 2018, the launched SDF was themed ‘Develop Your Skill, Develop Your Business, Develop Yourself'.

In his opening address, H.E. Dr Aun Pornmoniroth recommended all ministries, relevant institutions, development partners, and the private sector join hands in supporting SDF to further promote market-demand-driven and ethical human resources in Cambodia, both in terms of quality and quantity.

The event also showcased SDF achievements and hosted the signing of the memoranda of understanding between the trust fund and strategic partners, including the (CCC), the Cambodian Federation of Employers and Business Associations (CAMFEBA), and the Hospitality Kampuchea (Hoka) Steering Committee of the Ministry of Tourism and SwissContact.

From 2024 onwards, the SDF has set key priorities to strengthen the service quality and efficiency of managing and allocating its funds, increase support for training programmes to meet the needs of the private sector and introduce new programmes to further advance its work.

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