S. Korea Provides US$2bn Loan to Cambodia for Key Infrastructure Development
The Government of the Republic of Korea has provided concessional loans of nearly US$2 billion to build two key infrastructures and boost the overall economy. The signing ceremony took place on 9 December with Cambodian Prime Minister Samdech Hun Sen. One part of the loan worth US$245,909,000 will be used for the construction of the […]
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Phnom Penh Court of Appeal to be Relocated to OCIC Development in Early 2023
The Phnom Penh Court of Appeal and the Phnom Penh Prosecutor General of the Phnom Penh Court of Appeal will be relocated from the premises of the Ministry of Justice on Samdech Sothearos Blvd to a new location in the OCIC development area. According to an announcement by the Court of Appeal of Phnom Penh […]
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Gov’t Enforces Regulations on Pawnshop Businesses
The Real Estate and Pawnshop Regulatory Authority requires the owners of companies and enterprises licensed to conduct mortgage and pawnshop businesses to use the new monthly and annual financial statements from 1 January 2023 onwards. According to the announcement of the real estate regulator and mortgage on 14 November2022, all company and enterprise owners are […]
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WB: Cambodia’s economic growth forecast for 2022 remains at 4.8%
World Bank has projected that Cambodia’s real GDP growth for 2022 will remain at 4.8% as previously forecasted due to the positive increase of exports of garment and non-garment products, especially the arrivals of foreign tourists. The forecast is based on Cambodia’s Economic Updates on Navigating Global Economic Headwinds issued on 7 December. The surge […]
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Construction US$20m Takhmao Water Supply Facility to be Completed in 2024
The construction of the US$20 million Takhmao water supply is scheduled to be completed as planned in December 2024, according to a site inspection on 6 December 2022. According to HE Cham Prasidh, Minister of Industry, Science, Technology and Innovation, this project will tackle the shortage of clean water in Phnom Penh and Takhmao, and […]
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Gov’t to Inject More US$100m Fund to SME Banks
The government plans to allocate another US$100 million fund to the SME Bank by 2023, on top of US$423 million injected in the past years, according to a press conference on 5 December 2022. Dr Phan Phalla, Chairman of the Board of Directors of the Small and Medium Enterprise Bank, stated that the Royal Government […]
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Gov’t to Issue EV Development Policy; EV Usage Up 1153% Y-o-Y
The government has set up nine inter-ministerial working groups, institutions and other key development partners to gather input on the draft of the electric vehicle (EV) development policy. According to a workshop on 5 December, the policy aims to build a larger network of EV charging stations and encourage further usage of EVs in Cambodia. […]
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Japan to Help Build bridge, Irrigation System Two Major Cambodia’s Provinces
Japan has provided a grant of US$186,856 for the construction of bridges and the rehabilitation of irrigation systems in the Kampong Speu and Kampong Cham provinces. The grant agreement signing ceremony was held on 5 December with the presence of the Minister/Deputy Chief of Mission of the Embassy of Japan to Cambodia Taninai Ichitomo and […]
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ADB Provides US$50m Loan to Cambodia to Boost Global Competitiveness
The Asian Development Bank (ADB) has approved a US$50-million loan to Cambodia to diversify its economy and boost the country’s global competitiveness, according to a press release dated 6 December 2022. Sion L. Morton, ADB Senior Economist, said: “The COVID-19 pandemic has severely affected key sectors such as garments, footwear and textiles, tourism and especially […]
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Gov’s to Use Carbon Credit Profit to Build Standardised Restrooms Nationwide
Minister of Environment HE Say Sam Al has stated Cambodia will use the revenue earned from the carbon credit sale to improve hygiene in public schools nationwide by building standardised eco-friendly bathrooms. Not only bathrooms and toilets, but the budget will also be used to install water filters, improve sports fields, and grow more trees […]
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Cambodia’s Largest Construction Expo Successfully Held
The largest construction exhibition in Cambodia, organized by the Cambodia Constructors Association (CCA), has been successfully held from 1 to 3 December at the Diamond Island Convention and Exhibition Centre. The three-day expo welcomed thousands of visitors to discuss and inquire about over 2,000 products and more than 50 services. This year, the expo also […]
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Construction of US$35 million Russey Keo bridge 89% Complete
As of early December, the construction of the Russey Keo cable bridge across the Tonle Sap River has been 89% completed, according to the Department of Public Works and Transport of Phnom Penh on 5 December. Worth US$35 million, the new concrete cable-stayed bridge across the Tonle Sap is 20.5 metres wide and 500 metres […]
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