Asia Green Biotechnology Corp. announced that the company continues to successfully implement its business plan in SE Asia with the execution of a Memorandum of Understanding with the Prek Leap National Institute of Agriculture in Phnom Penh ("Prek Leap"). The purpose of this agreement is to allow AGB and Prek Leap to collaborate in the pursuit and execution of a business development plan tied to the evaluation and implementation of seed and plant production techniques relating to hemp and other plants with medicinal, practical or other benefits. Prek Leap will play a leading role in the research and development of industrial and other varieties of hemp using Cambodian heritage varieties and varieties provided by AGB and its partners in order to obtain suitable varieties that can be utilized for biofuel, fibre, food, foundation and medical proposes. The partners intend to study cultivation systems and techniques for production and industrial use of hemp in Cambodia with the aim of applying the knowledge gained directly to current agricultural practises employed in the country. The parties to this agreement include AGB, Prek Leap and InPlanta Biotechnology Inc., a company controlled by Dr. Igor Kovalchuk, and Asia Cannabis Industry Co. Ltd., a ccompany which has provided consulting services to AGB is prepared to jointly provide managerial input, equipment, intellectual property and material to facilitate the operational needs of this project. Next steps include setting budgetary limits, formulating research and related protocols, and liaising with other government departments for input on the processes. Prek Leap engages in research and development activities as well as general operations as an educational institution in Phnom Penh. The college was founded as a response to the needs of Cambodia's agriculture-based economy where approximately 85% of the workforce is engaged in agricultural activities. The school's main purposes are: to educate graduates in the field of agriculture, forestry and fisheries; to train agricultural extension workers and farmers in agriculture and rural development; to disseminate proper agricultural knowledge and technology to farmers; to carry out research and compile and document production techniques; and to co-operate with local and international institutions to increase the teaching capacity and human resources at the school. Managements of both institutions are confident that this collaboration will result in an increase in options in the greater region relative to expansion of the hemp-based food, fibre, fuel and foundation initiatives.