Oil on MT Strovolos Belongs to Cambodia, not KrisEnergy or Others, says Mines Ministry
The Ministry of Mines and Energy claims that all the crude oil on board the MT Strovolos legally belongs to the Kingdom of Cambodia at all times and does not belong to any parties, stating that all parties must stop making demands and return the oil to Cambodia. The claim is in response to a […]
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Solar Components & Bag Factories Worth Over US$33m Approved for PP and K. Speu
The Council for the Development of Cambodia (CDC) has issued permits to two private firms to invest US$33.1 million for setting up two factories in Kampong Speu and Phnom Penh. According to a CDC announcement on 30 September, the two companies include Xin Xingle Leather Products Co., Ltd., which will invest US$3.1 million to set […]
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Kampot Tourism Port 84% Complete, Set for Operational by Year’s End
The overall construction on the Kampot Tourism Port is over 84% complete as of September and is scheduled for final completion by the end of 2021, according to a site inspection by the Minister of Tourism HE Thong Khon on Wednesday 29 September. Meanwhile, construction of the passenger terminal is also over 73% completed. Located […]
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New Boutique Shopping Mall to Rise in the Heart of Phnom Penh by Mid-2022
The second phase of Lucky Pavilion Mall located along Sihanouk Blvd in BKK1, Phnom Penh’s prime downtown district, is currently under development and scheduled for completion and operation by mid-2022. The developer Lucky Mall Co., Ltd. said the second phase, which includes a landmark glass façade, is being implemented after the construction was successfully completed […]
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ADB Provides US$82-million Loan to Upgrade Roads in Prey Veng & Kandal Provinces
The Asian Development Bank (ADB) has approved an US$82 million loan to rehabilitate 48km of national and provincial roads in Prey Veng and Kandal provinces to boost economic development along the Greater Mekong Subregion (GMS) Southern Economic Corridor. According to a press release issued on 29 September, the project will also help the Ministry of […]
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Construction Begins on US$130 million Koh Tonsay Development
Construction has begun on the US$130-million mix-used development project on over 140 hectares of land in Koh Tonsay in Kep province by the Try Pheap Group. The deputy governor of Kep province said on 29 September that construction began on 22 September as the company’s team had already transported equipment and construction materials to the […]
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World Bank, IMF forecast Cambodia’s 2021economic growth at 2.2%, approx. 4-5% for 2022
The World Bank (WB) and the International Monetary Fund (IMF) have recently lowered Cambodia’s economic growth forecast in 2021 to only 2.2% but predicted that the rate will rebound to 4.5 to 5% in 2022. According to a World Bank report, the 2.2% is the drop from a 4% forecast in April 2021 due to […]
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WTM: Cambodia’s Accusation of Oil Theft Without Foundation; Vessel Under No Obligation to Return
World Tankers Management (WTM), the firm managing the alleged missing oil ship, released a statement on Monday that Cambodia’s accusation of theft was without foundation, and the vessel was under no obligation to return to Cambodia as requested by the government. As reported in Nikkei Asia on 28 September, the firm said that the question […]
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MPWT to Launch Training Campaign for Officials on New Port EDI System in November
The Ministry of Public Works and Transport (MPWT) will launch a campaign to train relevant officials on how to use the new electronic data exchange system known as Port EDI in mid-November 2021. Secretary of State of the MPWT HE Ros Vanna said during the meeting on Tuesday 28 September that the first Port EDI […]
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GDT Extends Property Tax Payment Deadline to End of October
The General Department of Taxation (GDT) has extended the deadline for property tax payment for 2021 from 30 September to 31 October 2021. According to the announcement issued on 28 September 2021, this extension is to give more time to many property owners who have not yet declared their tax. GDT also urged those who […]
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With First 4 Phases Sold Out in Pandemic, Urban Village Triumphs at Asia Pacific Property Awards 2021-2022
Urban Village and Factory Phnom Penh, the biggest mixed-use Hong Kong-standard development in Cambodia, has once again surprised the leading real estate players in the region by scoring two prestigious awards at the Asia Pacific Property Awards 2021-2022 organized by the International Property Awards, according to co-founders, Ms. Catherine Chan and Dr. Ben Li. Urban […]
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Japan’s Mitsubishi Invests in Building SEA’s Biggest Onshore Wind Power Plant
Japan’s Mitsubishi Corp has purchased 24% in a 600-MW onshore wind farm project in Laos through its subsidiary Hong Kong-based Imperial Energy Asia Development Ltd (IEAD). The development activities of the project will start next year and are to be built in a southern Laos province. Power generation is set to start in 2025. Imperial […]
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