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PHNOM PENH—Cambodia can earn tax revenue of up to $130 million over a ten-year period from cassava production if the crop receives more investment and public support, a United Nations agency said Friday.
"Making the Case for Investment in Cassava" report said cassava is both an important export commodity and an input to several industrial processes. However, its potential is under-realized. Much of the cassava sector is focused on growing and exporting products, while in-country processing remains unexplored.
The report, published by the United Nations Development Programme (UNDP) in Cambodia, said an investment program of $294 million would generate $130 million in tax revenue over a period of a decade for Cambodia.
“A model used in the report estimates that the socio-economic gains in terms of employment levels and poverty reduction are also significantly more favorable for investment in cassava," Nick Beresford, UNDP Resident Representative, said during the launch of the report Friday.
Mao Thora, Secretary of State, Ministry of Commerce, said that, in light of the report’s finding, the cassava sector should receive equal support and commitment from the government as has the rice sector.
He added that greater investment in the cassava production chain will help boost export and create more jobs, subsequently leading to reduction of risky migration and better living standard of Cambodian farmers.