Youth Education - A Key Pillar in Cambodia's Economic Growth
Jan 18, 2023
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The Kingdom of Cambodia is on the rise, and its success primarily lies in the hands of its young population. As reported by UNDESA, Cambodia ranks fourth in South East Asia when it comes to the youth population.According to 2019 data, 15 to 24-year-olds comprise one-sixth of the population, and 15 to 29-year-olds constitute more than a quarter. Seventy percent of young people between 15 and 29 were employed.
With a focus on investing in education, Cambodia’s youth are being empowered to take part in the country’s growth. Let’s explore how this is happening.
Investment in Education
The government of Cambodia has made it its mission to increase access to quality education. This includes free primary schooling for all children between the ages of 6 and 12 and additional investments in higher education programs and infrastructure. These investments have helped to boost literacy rates from 67% in 1998 to nearly 80% today—a testament to the immense progress that can be achieved when a government puts its resources towards education.
In addition to increasing access to quality education, Cambodia offers educational programs specifically designed for youth development. These programs strive to empower young people by equipping them with communication, problem-solving and critical thinking skills.
In providing these growth opportunities, young people are given a chance to become active participants in their country’s development rather than passive bystanders—an essential step towards creating an engaged citizenry and a better future for everyone.
Private enterprises are also joining the government's initiatives to champion the cause of youth education. Among the key and most active participating organizations contributing to such efforts is Prince Holding Group, one of Cambodia’s most dynamic and fastest-growing business conglomerates.
Recently, the group has reached an agreement with the Ministry of Education, Youth and Sport to establish a scholarship program for Cambodian university students.
The initiative, named Chen Zhi Scholarship after the group’s esteemed chairman and prominent Cambodian businssman Chen Zhi, will cover the total tuition fees and stipends of 400 students over the course of seven years, totaling more than two million US dollars.
The beneficiaries will be enrolled in renowned Cambodian universities, such as the Royal University of Phnom Penh, the Institute of Technology of Cambodia, and the National University of Management.
Prince Group will collaborate with the Ministry of Education, Youth, and Sports to support students by providing financial aid, training, mentoring, and work opportunities in three key areas. These areas of focus include sustainable development of the real estate industry, promoting financial inclusion and digital banking, and improving standards in the hospitality sector to meet future labor needs.
Creating Economic Opportunities For All
Investing in youth education helps create economic opportunities for everyone. By assisting young people to develop the skills they need to become successful entrepreneurs or employees within their communities, they can contribute meaningfully to their own economic well-being, their families, and broader society. This ripple effect could lead to economic growth throughout Cambodia, further strengthening its position as an emerging economy in Southeast Asia.
With a strong focus on youth education, Cambodia is paving the way for a brighter future for its citizens and its economy. By investing resources into accessible schooling opportunities and empowering youth through educational initiatives, Cambodia is proving that the education system is a cornerstone of a thriving nation.
The active participation from the private sector towards this cause is also heartening and encouraging to see, and will no doubt further strengthen Cambodia’s ability to empower its youth and groom the country’s next generation of leaders.