Cambodia Earns Over US$2m from Agro-Industrial Land Concessions
The Ministry of Agriculture, Forestry, and Fisheries as of August 2022 has given over 229 agro-industrial concessional land plots to the private sector, or equivalent to over 1.1 million hectares. The figure was shown by HE Veng Sakhorn, Minister of Agriculture, Forestry, and Fisheries on 25 August. Among them, 72 private firms have paid over […]
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Construction of ADB-funded 11km Beachfront Road in Kep to Start in November
The construction of the ADB-funded 11km beachfront road is scheduled to begin this upcoming November, according to the final decision between the Kep provincial administration and the Asian Development Bank (ADB) on 30 September. This road will start from Kep city and stretch along the beach all the way to Angkol beach. With an estimated […]
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Construction of New Offshore Koh Tonsay Tourism Port to Begin by Mid-October
A new Koh Tonsay Tourism Port located on the Koh Tonsay Island, 4km offshore of Kep province’s mainland, is set to begin construction on 16 October and is expected to take 15 months to complete. The construction timeline was set during the meeting on Thursday 30 September between the Kep provincial administration, the Ministry of […]
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MPWT Requests the US to Provide Technical Support & Invest More in Infrastructure Sector
The Minister of Public Works and Transport HE Sun Chanthol has requested the United States to assist in three major areas to help enhance the infrastructure sector in Cambodia. The proposal was made during a meeting between HE Sun Chanthol and US Ambassador to Cambodia HE Patrick Murphy on 29 September. HE Sun Chanthol urged […]
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Four Regions in Kep Province Selected as Main Development Zones in 2021-2035 Masterplan
The draft of the Kep Tourism Development Masterplan for 2021-2035 is currently under discussion as four major areas have been selected as strategic development poles, including the old Kep town, Angkol beach area, the Phnom Voar zone, and offshore islands zone. The draft master plan was discussed at a meeting on 29 September under the […]
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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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