Thailand's SNC Former PCL plans to set up a high-tech training institute in Cambodia to support the growth of the fourth industrial revolution (IR4) that would help develop human resources and raise Cambodia’s competitiveness in attracting foreign direct investment.

The plan was made known during a visit by Cambodian ambassador to Thailand Ouk Sorphorn, who led a group of delegates to 23 of Thai-listed SNC’s factories in Rayong province of Thailand, on August 13 this year.

Original equipment manufacturer SNC, which was established in 1994, makes parts for branded air conditioners, home appliances and cars in Thailand and other Asian countries.

“We welcome the project to establish a high-tech training institute which would play an important role in the Cambodian economy as it’s in line with our Industrial Development Plan 2015-2025.

“The plan has the potential to help us achieve our vision to become an upper middle income country by 2030 and a high income country by 2050,” said Sorphorn.

SNC founder and CEO Somchai Thaisa-nguanvorakul, said his company has studied many areas from waste management to renewable energy in Cambodia.

“Now, [we] aim to establish a state-of-the-art standard technology institute to train Cambodian youths in the field of equipment and electronics manufacturing to support future investments in our company’s market expansion,” he said.

Speaking to the press on August 11, Ministry of Industry, Science, Technology and Innovation secretary of state Heng Sokkung said Cambodia is looking to establish three science, technology and innovation parks by 2025.

The objective is to attract investors, businesspeople, individuals with innovative ideas to contribute to the development of Cambodia’s digital economy.

“These parks are very important in mobilising domestic and foreign investments. Currently, domestic investment is steadily increasing, especially in the fields of science, technology and innovation.

“We expect that with the creation of these parks, it will help drive Cambodia’s economic growth even further,” he said, adding that Singapore, Thailand and Vietnam have set up such parks many years ago.