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ខ្មែរ 
China’s Property Market Struggles Persist as Shimao Group Faces Failed Auction and Sino-Ocean Group Sees Bond Decline
- 8 July 2023
The challenges gripping China's property market continue to intensify, with alarming developments emerging in the country's ongoing real estate debt crisis. Shimao Group Holdings Ltd., a defaulting developer, experienced a setback as a $1.8 billion project failed to attract a buyer at a forced auction, even with a significant discount, according to Yahoo Finance. In parallel, Sino-Ocean Group H...
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New Siem Reap International Airport Nears Completion, Set to Open in October 2023
- 8 July 2023
As the construction of the new Siem Reap International Airport nears completion, reaching an impressive 98%, aviation officials have announced that the airport is on track to open its doors to the public in October 2023. This exciting progress was confirmed by Mr. Sin Chanserivutha, Undersecretary of State and spokesperson for the Secretariat of State for Civil Aviation, in a statement to Fresh Ne...
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Ensuring Fairness and Protection: MOC Introduces Measures to Prevent Real Estate Contract Exploitation
- 7 July 2023
In a bid to safeguard consumer rights and prevent profiteering in the real estate sector, the Ministry of Commerce (MOC) has announced the implementation of the Consumer Protection Law and the Declaration on Unfair Contracts. This significant development was highlighted in a press release issued on 30 June 2023. The MOC acknowledged the rapid growth and fierce competition within Cambodia's real...
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Sihanoukville Tourism Port: A Gateway to Unforgettable Island Adventures
- 7 July 2023
The grand inauguration of the Sihanoukville Tourism Port, spanning over 2 hectares of land, marks a significant milestone in Cambodia's tourism landscape. The momentous event, held on July 6, 2023, was graced by the presence of HE Dr. Thong Khon, Minister of Tourism, symbolizing the port's official commencement. Under the leadership of Tycoon Tea Vichet, CEO of GTVC Import Export Co., Ltd., the...
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Grand Inauguration of US$43 Million NSSF Headquarters Showcases Modernity and Efficiency
- 7 July 2023
The National Social Security Fund (NSSF) proudly unveiled its new headquarters, a state-of-the-art building valued at US$43 million, during an official inauguration ceremony on July 6, 2023. Dr. Aun Porn Moniroth, Deputy Prime Minister and Minister of Economy and Finance, presided over the momentous event. The impressive 21-story building, situated in Banlea Set Village, Sangkat Khmuonh, Khan S...
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Sihanoukville Provincial Hall Complex Nears Completion with 95% Progress
- 7 July 2023
The construction of the new Sihanoukville Provincial Hall, valued at US$3 million, has reached an impressive completion rate of 95% as of July 6. HE Kouch Chamroeun, Governor of Preah Sihanouk Province, conducted a site inspection on the same day to assess the progress. The project, undertaken by two companies, VT and Mohanakor, has made significant headway. VT, responsible for the structural c...
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NBC Urges Prudence in Real Estate Loans Amid Projected Market Slowdown
- 6 July 2023
The NBC has issued a cautionary statement to banks and microfinance institutions, emphasizing the importance of exercising prudence in granting real estate loans. This advisory comes in light of the projected slowdown in the demand for real estate within the domestic market for the current year. During a seminar held at the Center for Banking Study on June 6, 2023, HE Dr. Chea Serey, Deputy Gov...
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Cambodia’s Angkor Wat Ticket Sales Surge in H1 2023, Generating Nearly US$18 Million
- 6 July 2023
In the first half of 2023, Cambodia witnessed a remarkable surge in revenue from ticket sales to the iconic Angkor resort. According to a report released by the Angkor Institute on July 1, 2023, the country earned an impressive US$17,877,418 from selling tickets to 385,769 foreign tourists during this period. This revenue marks a staggering 638.71% increase compared to the same period in 2022, hig...
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China Sends Second Batch of TCM Experts to Cambodia, Strengthening Healthcare Collaboration
- 6 July 2023
Phnom Penh, the capital of Cambodia, welcomed the arrival of the second batch of highly skilled Chinese medical teams specializing in traditional Chinese medicine (TCM) on Tuesday evening. With a dual mission in mind, this team aims not only to provide routine medical treatments but also to bolster the establishment of the China-Cambodia Traditional Chinese Medicine Center, a national-level initia...
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Boeung Choeung Ek Wastewater Treatment Plant Nears Completion at 80% Progress with US$20M Investment
- 6 July 2023
Exciting progress has been made on the construction of the Boeung Choeung Ek Water Treatment Plant, a monumental project valued at over US$20 million. As of July 5, 2023, the plant has reached an impressive completion rate of 80%, with the anticipated deadline set for November 2023. The Department of Public Works and Transport of Phnom Penh released this update, highlighting the significant str...
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Korea Extends Generous Funding of Nearly US$2 Million for New Referral Building in Pursat Province
- 5 July 2023
In a significant development, the construction of a new non-communicable disease building at Pursat Provincial Referral Hospital, valued at nearly US$2 million, has commenced. The groundbreaking ceremony for this vital project took place on June 27, 2023, with the esteemed presence of HE Professor Mam Bunheng, Minister of Health, HE Khoy Rida, Governor of Pursat Province, and Mr. Song Yong-gun,...
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MB Bank and Borey Peng Huoth Join Forces to Offer Special Home Purchase Loans
- 5 July 2023
In a significant collaboration, MB Bank Cambodia and Borey Peng Huoth recently held a Partnership Signing Ceremony at the prestigious Grand Star Platinum Sales Office, located just 5 minutes away from Monivong Bridge in Chbar Ampov. This event, which took place on the morning of June 30, 2023, saw the attendance of senior management representatives from both institutions, along with colleagues. ...
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