Cambodia Investment Review
To support workforce development in Cambodia, the Ministry of Labour and Vocational Training (MLVT) and Overseas Cambodian Investment Corporation (OCIC) have signed a Memorandum of Understanding (MoU) on November 4, 2024. The signing ceremony took place at Intercare Hospital, Olympia Medical Hub located in Olympia City, and was attended by H.E. Heng Sour, Minister of Labour and Vocational Training and Dr. Lim Lina, Vice Chairperson of OCIC.
This collaboration reflects both parties’ shared commitment to supporting Technical and Vocational Education and Training (TVET) programs, which aim to equip the Cambodian workforce with industry-specific skills essential for career growth in key sectors. MLVT and OCIC will work closely on training environments that align with industry needs in sectors such as construction, engineering, real estate, hospitality, and infrastructure development. During the ceremony, MLVT also signed MoUs with Intercare Hospital and Canadia Bank Plc., followed by a tour of Intercare Hospital and its facilities.
150,000 People Entering the Workforce Each Year
With approximately 150,000 people entering the workforce each year, TVET is essential to meet industry needs and provide Cambodian workers with more career opportunities.
The MLVT aims to provide training and career development opportunities to 1.5 million people in Cambodia through TVET programmes, highlighting its expansive role in workforce readiness across the nation. As a private sector player, OCIC is contributing to bridge the gap and develop capacity building for a wider, stronger workforce in Cambodia.
H.E. Heng Sour, Minister of Labor and Vocational Training, underscored the importance of this collaboration, stating, “This Memorandum of Understanding exemplifies how the public and private sectors can collaborate to serve the long-term interests of the nation and its people, thereby fulfilling the principles of corporate social responsibility (CSR).”
Supporting Education & Developing Career Opportunities
Established 24 years ago, OCIC is active across multiple industries in Cambodia and employs over 17,000 people. The group recognizes the importance of supporting education to contribute to developing career opportunities for people in Cambodia. OCIC has invested in internal training programs and three educational institutions: CamTech University, the Canadian International School (CIS), and Ecole Française Internationale (EFI).
“The entrepreneurial values of OCIC’s founder, Lok Neak Oknha Dr. Pung Kheav Se strongly emphasises the importance of education and job creation,” said Thierry Tea, Vice President of OCIC. “This collaboration is a natural extension of our ongoing efforts in developing schools and universities, and we are honoured to contribute to TVET programs to support the growth of a skilled workforce in Cambodia.”
OCIC also values the role of international training and expertise in raising workforce standards. Over 250 foreign professionals are part of the Group’s employee base, representing 1.5% of the total workforce, while some OCIC employees are Cambodian returnees who have studied or worked overseas.
