According to the plan, the government will pay almost $500 per metric ton for white rice and $650 for higher quality fragrant rice.
Thaksin said in a lecture held at the Council of Ministers’ building, that Cambodia had shown strong growth compared to the region.
In Cambodia, officials have curtailed dredging and suspended sales as they assess the environmental damage caused by sand mining.
Thailand’s recently elected Prime Minister Yingluck Shinawatra has made her first official visit to Cambodia Thursday.
Thaksin, who is expected to stay in Cambodia until Sept. 24, will attend the Asian Economic Forum.
The Asian Development Bank on Wednesday said Cambodia would likely reach a 6.8 percent economic growth rate for 2011.
Ambassador Rodley said corruption has costs the Cambodian government an estimated $500 million a year.
Cambodia marked the 10th anniversary of the International Year of Volunteers last week, as officials called on more volunteers.
Yingluck, who was elected in July, is scheduled to arrive on Thursday, with Thaksin preparing for a weeklong trip starting Friday.
Thaksin is expected to give a lecture on Asian economics on Saturday and to play a round of golf with Hun Sen in Siem Reap on Sunday.
Aside from promoting trade, the business association also seeks to promote Cambodian culture.
A weak recovery to the global economic crisis in 2008 has not helped.