Phnom Penh, August 31, 2022
Dr. Tan Monivann, CAIF’s president and a board member of SDF, attended the first board of directors meeting on July 27th, 2023 at the Ministry of Economy and Finance, presided by H.E. Dr. Phan Phalla, Secretary of State of the Ministry of Economy and Finance and Chairman of SDF BOD, with the participation of vice chairmen and other members.
The meeting was aimed to review the progress and milestones of SDF, set up strategic goals and get approval from the board of director on direction and priority of the tasks moving forward together with budget plan for the second half of 2023 after transforming from pilot project to Trust Fund.
Automotive industry is one of the main priority sectors in Cambodia where the demand of skilled-labor workforce hiked in recent years due to the demand of new vehicles increased from about 10% in the past decade to close to 40% of total industry volume in recent year.
This dramatic change in customer perception from purchasing used to new vehicles has attracted more investment in vehicles assembly plant to the country, with most recently Toyota Tsusho Manufacturing (Cambodia) Co.,Ltd invested approximately $36.8 Million in Royal Group PPSEZ, is going to assemble Toyota HILUX pick up truck and Toyota FORTUNER SUV.