Gov’t Warns of Legal Action Against Demolition of Heritage Buildings Nationwide
The Council of Ministers has issued new regulations to prevent the destruction and demolition of heritage buildings nationwide including religious buildings, public buildings, private buildings, villages and traditional houses to conserve culture and national identity. According to announcement No. 08 SR dated 12 October 2021, any actions of modifying the appearance or damaging the aesthetics […]
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Construction an Engine of Global Economic Growth in Next Decade, says Global Forecast
New research has forecasted that the construction sector will be the main engine of global economic growth outpacing manufacturing in the decade to 2030, with output expected to be 35% higher than in the ten years to 2020, reported GCR. A forecast conducted by Oxford Economics and Marsh McLennan companies Marsh and Guy Carpenter revealed […]
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Cambodia Establishes Digitalised Manufacturing Centre
The Japanese government, through the Embassy of Japan in Cambodia, has provided approximately US$4.5 million to support the operation of a digitalised manufacturing centre, located at the Royal University of Phnom Penh. The grant was announced at a press conference on 14 October under the chairmanship of RUPP Chair of board HE Dr Mey Kalyan, […]
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Poipet Authority Warns Banks & Pawnshops Over Spike in Forged Land Documents
The Poipet City Administration has issued a warning to banks, microfinance institutions, pawnshops, and the public to be cautious of forged land and property documents, as many cases have been recently found. According to an announcement by the administration, the working group is now tackling the issue and has seized many documents with forged stamps […]
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CDC Approves 134 Investment Projects Worth US$3.3bn in First Three Quarters of 2021
During the first three quarters of 2021, the Council for the Development of Cambodia (CDC) has approved a total of 134 investment projects worth over US$3.3 billion, according to a CDC report published in Freshnews. The report added that the number of projects decreased by 24.7% while the investment also dropped by 48%, compared to the […]
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ADB to Provide US$100 billion in Climate Financing to Developing Countries
The Asian Development Bank (ADB) announced on 13 October 2021, that it is ready to provide US$100 billion in climate financing to developing member countries including Cambodia for 2019-2030.The increased financial ambitions are an important part of ADB’s efforts to support its developing member countries (DMCs), according to a press release.Climate change mitigation projects, including […]
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Borey Market Robust Despite COVID-19, Sale Prices Rise 8 to 13% in Q3
Despite the prolonged 20 February community outbreak incident, the Borey market in Cambodia remains robust, with sale prices up by 8 to 13% in Q3 from the previous quarter. According to a report by CBRE Cambodia on 12 October, 22 new projects were launched and three projects were completed in this quarter, bringing the total […]
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EU Provides US$17 million for Cambodia’s Rural Infrastructure Development
The European Union through the Europe Investment Bank (EIB) will provide a €15 million grant aid (approximately US$17 million) to Cambodia for rural infrastructure development. The grant is part of the project to accelerate the implementation of the Sustainable Assets for Agriculture Markets, Business and Trade (SAAMBAT), according to a press release issued on 4 […]
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Draft Master Plan to Digitalise Cambodia’s Transport Sector on Track
Work on drafting a master plan to digitalise Cambodia’s public works and transport sector is on track, as a special working group of the Ministry of Public Works and Transport (MPWT) is accelerating the progress. MPWT Secretary of State HE Chhuon said during the follow-up meeting with relevant officers on 12 October that to date […]
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Condo Prices & Rents in Q3 Drop by 1.8% to 7.8% Q-o-Q
The condominium market in Cambodia during Q3 of 2021 remains under pressure from the COVID-19 pandemic, with both sale prices and rental rates dropping significantly compared to the previous quarter. According to a report by CBRE Cambodia on 12 October, sale prices dropped by 1.8%, 3%, and 2.1% for affordable, mid-range, and high-end types respectively. […]
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Construction of ADB-funded landfill in Kep 90% complete
Construction of an 8-hectare landfill in Prey Thom commune of Kep city has been over 90% completed as of September 2021, while the completion date will be delayed from October this year to early next year. According to a report from the Kep Provincial Administration, the landfill project is being built under an ADB loan […]
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Construction materials import value up by 20% in first 8 months of 2021
During the first eight months of 2021, the import value of all goods to Cambodia (except gold) was recorded at US$14.6 billion, an increase of 26.7% compared to the same period last year, while the construction materials import value also jumped by 23.7% y-o-y. According to a report from the Ministry of Economy and Finance, […]
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