KOTRA Pledges to Attract More Korean Investors to Cambodia
The Korea Trade and Investment Agency (KOTRA) has promised to attract more Korean investors to Cambodia, as more than 200 companies are currently investing in Cambodia, according to a discussion between Minister of Commerce HE Pan Sorasak and KOTRA on 27January 2023. During the meeting, the minister confirmed with the Korean side that the entry […]
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Can China Fix its Property Crisis?
Plenty of Chinese developers have faced difficulties. The volume of floor space sold across the country fell by 24% in 2022, the biggest slump since data became available in 1992; property investment was down 10% year on year, the first drop on record. China has abandoned its “zero-covid” approach to the pandemic, while simultaneously signalling […]
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Ministry of Culture Preserves 137 Ancient Buildings in 2022
In 2022, the Ministry of Culture and Fine Arts preserved 137 ancient buildings or equivalent to 216 sites, according to the official conference on 27 January 2023. Of these, a total of 48 buildings were repaired and 89 buildings were renovated. In 2022, the ministry also received requests to repair requests in a total of […]
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Construction of US$22m Water Supply System Project in Pursat 64% Complete
The construction of a Japanese-funded water supply system project in Pursat worth US$21.9 million has been 64% completed, according to the Pursat Provincial Administration. Senior Minister Cham Prasidh, Minister of Industry, Science, Technology, and Innovation inspected the construction progress on 27 January. Located in Phsar Leu village, Sangkat Lolok Sor, Pursat city, the construction of […]
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Gov’t plans to spend US$30m for mine clearing in 2023
Prime Minister Samdech Hun Sen has approved a budget of US$ 30 million for the Cambodian Mine Action Centre (CMAC) to conduct a mine clearing on over 180 million square metres of land in 2023, as the institution had already cleared 411 square kilometres of mined land thus far. According to HE Ly Thuch, First […]
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Thailand to Begin Construction of $9bn Aviation City in 2023
Thailand will begin construction on the US$8.82 billion U-Tapao aviation city early this year, a government spokesperson said on Friday 27 January. Deputy government spokesperson Tipanan Sirichana said that the project covers an area of 6,500 rai (1,040 hectares) in the eastern seaboard province’s Ban Chang district and requires an investment of THB290 billion in […]
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Cambodia real estate market in 2023 to slightly recover along with lingering risks
Local experts have projected that the Cambodian real estate market in 2023 will improve slightly, while still facing lingering risks that will last longer than expected. Mr Sorn Seap, President Cambodian Valuers and Estate Agents Association (CVEA), said no one could predict that the market would recover to the pre-COVID-19 rate as crises have yet […]
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First Gov’t Bond Trial of Larger-Scale Public Fund Raising Mechanism
The first set of government bonds is a trial for larger-scale capital-raising mechanisms in the future, said Permanent Secretary of the Ministry of Economy and Finance HE Vongsey Visoth. At a public forum on macroeconomic management on 25 January, HE Vongsey Visoth said the government bonds will help Cambodia become less dependent on foreign debt […]
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Malaysia pledges to bring more investors & tourists to Cambodia
Malaysian Ambassador to Cambodia Datuk Eldeen Husaini Mohd Hashim has promised to bring more investors and tourists into Cambodia, especially Sihanoukville. Datuk Eldeen Husaini Mohd Hashim said that during the meeting with the Sihanoukville Provincial Administration top official recently Mr Mang Sineth, Deputy Governor of Preah Sihanouk Province, said that Sihanoukville has many natural resources […]
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Gov’t to Build Historic Park Along Tonle Sap River
The Kampong Chhnang provincial administration will build a historic public park along the 16km Tonle Sap riverside according to a press conference on 26 January. Kampong Chhang Governor HE Sun Sovannarith stated the park will be a new tourist attraction site with a beautiful garden and other historical monuments. “We are now waiting for approval for […]
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Inter-Ministerial Committee to Attract New Investors to Redevelop Unfinished Buildings in SHV
The Inter-Ministerial Committee has set out a policy framework to resolve the more than 1,000 unfinished buildings in Sihanoukville by attracting new investors to complete the development of those buildings, through tax incentives and out-of-court dispute resolution. The committee approved the draft at a meeting held on 19 January 2022, according to HE Chea Kok […]
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Gov’t Reclassifies 300ha of Tonle Sap Area Land for Aquaculture & Tourism Development
The Cambodian government has reclassified 300 hectares of land from the second and third zones of the Tonle Sap Area to develop into aquaculture and tourism projects. The 300 hectares of land will be under the administration of the Kampong Chhnang Provincial Administration and the Ministry of Agriculture, Forestry and Fisheries, according to a press […]
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