The government has approved a draft document detailing the spending of nearly $2 billion on public investment projects between 2006 and 2008, the Council of Ministers said in a news release on Friday.
The public investments include 617 projects, 298 which are currently being implemented, 36 of which have been contracted for implementation and 283 which are in the “high priority” category for future implementation, according to the statement.
According to the Council of Ministers, the government and international donors have pledged $1.4 billion towards the projects along with a further $563.4 million that was pledged in previous years.
The investments are mainly focused on infrastructure projects such as roads, bridges, irrigation systems, transportation and other public services, said Cheam Yeap, chairman of the National Assembly’s Banking and Finance Commission.
Funding for the projects has come from three main sources: National budget, foreign donors, and loans and grants, Cheam Yeap said, adding that the government hopes that debt cancellation will continue after the International Monetary Fund’s recent wiping of $82 million off the slate.
Economist Kang Chandararot said that the improvements to infrastructure are noticeable compared to previous years, particularly in terms of road networks.
Irrigation should now be the top investment priority for the government, he said.