The United States Agency for International Development (USAID) announced new partnerships with three Cambodian private agricultural companies. More than $4 million will be invested in expanding the economic opportunities and access to domestic and international markets of smallholder farmers.
A February 14 press release by the US embassy said the total investment was up to $4.4 million, and that more than half of the capital came from direct investment by the three enterprises, BRM Agro, Khmer Organic Cooperative and Leang Leng Enterprises.
“Working in partnership with these companies directly supports USAID’s goal of mitigating financial risks to companies that dare to implement innovative solutions that encourage investment in agriculture,” said Hanh Nguyen, USAID acting mission director.
“It will help to increase farmers’ incomes and increase the availability of quality, safe Cambodian agricultural products in local and international markets,” she added.
Chan Ang, CEO of BRM Agro, said that during the two-year partnership, the company would invest in rice production and rice mills in Kampong Thom province. He said support from USAID will enable the company to build larger rice milling facilities, thus increasing its volume of high-quality fragrant rice exports.
He added that the company works with farmers in an area of about 5,000ha.
“Our mills are small, so the volume of rice we could process was limited. By adding more equipment, we can contract with more farmers, to buy more rice,” he explained.
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Author: Ry Sochan and Van Socheata
Source: The Phnom Penh Post
Publication: 15th February 2023