Poipet Casino Star Vegas Reports More Losses in Q2 Due to Extended Closure
Poipet-based casino giant Star Vegas has announced an EBITDA loss of AU$530,000 in the second quarter of 2021 due to the extended closure of the casino since April, reported Inside Asian Gaming recently. In the second quarter, the company’s revenue was only AU$1.1 million, down 56% from the first quarter, while expenditure remained high. “The […]
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OECD: Cambodia’s Logistics System Needs Reform to Increase Competitiveness
Cambodia’s logistic system in recent years has grown significantly but is still inadequate and limited due to high costs and the complexity of laws and regulations, according to OECD’s recent report which argued that reform is required to increase competitiveness. The report added that logistics prices in Cambodia are relatively high compared to other ASEAN […]
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MPWT, Japan Accelerate Work on East Siem Reap Smart City Master Plan
The Ministry of Public Works and Transport (MPWT) and the Japan Ministry of Transport held an online meeting on Thursday 29 July to discuss the initial feasibility study result of the east Siem Reap smart city master plan and wastewater treatment and sanitation system enhancement project. The discussion was chaired by MPWT Under Secretary of […]
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US$160 million Morodok Techo Stadium Set for Final Completion in August
The construction of the Chinese-funded US$160 million Morodok Techo Stadium has been 100% completed with only some decorating and gardening works remaining. Secretary-General of the National Olympic Committee of Cambodia Vath Chamroeun said that the general construction, seat installation, lighting and sound systems are all complete. The remaining outside decoration work will be completed by […]
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Construction of 60mW Solar Power Station in Kampong Chhnang to Begin Next Year
Construction of a 60-mW solar power plant in Kampong Chhnang province will begin early next year, according to the Ministry of Mines and Energy. The project received a concession loan from the Asian Development Bank under the Cambodia National Solar Park project. It is the first phase of the Cambodia National Solar Park project, with […]
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Kingdom’s First Wind Power Project Stuck in Tariff Negotiations
Cambodia’s first wind power investment project in Bokor tariff negotiation process is experiencing delays with Electricite du Cambodge (EDC) since mid-2020 as the government seeking lower cost. HE Victor Jona, Director General of Energy of the Ministry of Mines and Energy, said that the wind power study project has been completed, but the construction has […]
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Regional Commercial Real Estate Investment Begins to Recover in H1
Despite the disruption of COVID-19, commercial real estate has seen a recovery during the first half of 2020, with investment in Asia Pacific commercial real estate reaching US$83.5 billion, a 39% year-on-year growth. This growth has brought the figure close to pre-pandemic levels, according to the real estate firm JLL. Volumes from January to June […]
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Number of Construction Projects, Value & Area in H1 Dropped by 11.4% 34.3% & 29.9% Respectively
The number of construction projects, the investment value, and total area approved in H1 2021 have decreased by 11.4%, 34.3%, and 29.9% respectively, compared to the same period last year, according to a recent report from the National Bank of Cambodia (NBC) The report added that the drop predominantly stems from the slowdown in tourism […]
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Laws on Payment Guarantee for Four Large-Scale Energy Projects Promulgated
His Majesty the King of Cambodia has signed and officially promulgated four new laws securing that the government will make payments as agreed to three private firms for investing in four large-scale energy-related projects. The first and second laws are made for SchneiTec Co Ltd for developing a 500 kV transmission line from Battambang to […]
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Construction of 700-megawatt Coal-Fired Power Plant in Koh Kong 10% Complete
Construction on the US$1.1-billion 700-megawatt coal-fired power plant in Koh Kong province has been approximately 10%, completed according to a senior official at the Ministry of Mines and Energy. HE Victor Jona, Director General of Energy of the Ministry of Mines and Energy, said on Wednesday 28 July that the construction project has seemly been […]
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Gov’t Locks Down 8 Provinces, Implements Nationwide Curfew, & Suspends Risky Business to Prevent Delta Variant Spread
Cambodia Prime Minister Hun Sen last night issued a new order to all provinces to implement stricter measures as Cambodia is vulnerable to large-scale infection of the Delta variant. The new measures will be implemented from the night of July 29 to August 12, which include: -Imposing a curfew from 9 pm to 3 am […]
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Two Factories Worth Over US$12.5 million Approved for Kandal and Kampong Chhnang
The Council for the Development of Cambodia (CDC) approved two investment projects on Wednesday 28 July worth over US$12 million for Kandal and Kampong Chhnang provinces. The first investment permit has been granted to General Enterprises Garment (Cambodia) Co., Ltd to invest US$7.3 million to build a garment factory in Kadal Stueng district, Kandal province. […]
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