Korea Eximbank held an EDCF project evaluation workshop on September 22, 2011 in Phnom Penh, Cambodia.
50 participants representing international NGOs working in Cambodia, three assistance organizations including the ADB, and the Cambodian government attended the workshop to discuss the National Polytechnic Institute of Cambodia Establishment Project supported by EDCF.
* The National Polytechnic Institute of Cambodia: Originally established in 2005 as a vocational training center through EDCF support of USD 28 million. After securing excellent lecturers and lecture facilities, the Cambodian government renamed the center to the current name.
Located in the Indochinese peninsula, Cambodia is assessed by the UN as a least developed country but is achieving rapid rates of economic growth with an annual average of 11.4% from 2005 to 2007. After the end of the financial crisis in 2010, Cambodia recorded economic growth of 4.7%.
Trade between Cambodia and Korea has steadily increased since the initiation of diplomatic relations in 1997. In 2010, Korea’s export to and import from Cambodia recorded USD 333 million and USD 43.45 million respectively, resulting in a trade surplus of USD 289.55 million.
As of July 2011, Korea has provided KRW 293.7 billion to Cambodia for 11 projects through the EDCF program making Cambodia the 6th largest beneficiary of EDCF support.
Despite the nation’s economic potential and efforts for development, Cambodia, like most Southeast Asian countries, suffers from insufficient infrastructure, especially educational facilities, which are essential to a nation’s development.
Cambodia’s economy is driven primarily by agriculture but the country is recording great growth in sewing and construction sectors. However, due to insufficient skilled labor, much of the jobs to go workers from Vietnam, Thailand, and China.
In order to foster a well-trained labor force, the Cambodian government requested EDCF support from the Korean government in 2001 for establishment of a vocational training center.
In accord with the assistance policies of the Korean government, established in 2002, Korea Eximbank provided Cambodia with USD 28 million (KRW 36.2 billion) in 2002 for the construction of the training center, procurement of training equipment, employment of training specialists, and provision of educational services. Based on the excellence of the facilities and services, the center was elevated to a national technological university.
In addition, EDCF has committed USD 600 million to support establishment of vocational centers and provision of IT training in developing countries such as Vietnam and Bangladesh.
During the workshop, participants discussed project establishment and factors for success of the project, including how industrial complexes near the institute were provided with a well-trained workforce and the potential to dispatch trained labor overseas.
The participants agreed that comprehensive consideration of management support and technical experts from the initial project evaluation phase were keys to the success of the project and that selection and preparation of quality faculty should be maintained for the long-term to ensure continued success of the project.
