Gov’t to Strengthen Household Electrical Security via Four New IEC standards
The Ministry of Industry, Science, Technology and Innovation (MISTI) has adopted four International Electrotechnical Commission (IEC) standards to strengthen household electrical security in Cambodia. MISTI announced this new standard acceptance during the 23rd video call meeting of the National Standards Council (NSC) on 18 December. MISTI Minister HE Cham Prasidh said that these new standards […]
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OCIC to Invest Over US$600 million in Infrastructure Development Next Year
The Overseas Cambodia Investment Corporation (OCIC) has invested approximately US$300 million to develop many massive projects this year, as the firm also plans to invest at least US$600 million more in 2021. OCIC’s chairman Neak Oknha Pung Kheav Se told Construction & Property Magazine on 19 December that the firm has invested around US$70 million […]
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26 Companies Compete to Develop Indonesian Airport
With the Indonesian government planning to transform Lombok Airport to drive the tourism business on the island as a second choice to Bali, 26 companies have expressed interest in bidding to develop and operate the new airport. The US$700-million project has attracted world-leading contractors such as Bechtel and Vinci (the latter which has developed Cambodia’s […]
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Thailand Offers Residency Via Condo Purchase System
In a process approved at the end of November, Thailand is to offer residency visas to foreigners purchasing condos or apartments in a bid to shore up the declining real estate sector and shift completed stock for two years starting in 2021. According to Somchai Soongswang, president of Thailand Privilege Card, buyers will be given […]
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Transmission Line Connecting from Oddar Meanchey Power Plant to Siem Reap to Operate Soon
A 230-kilovolt power transmission line connecting from the coal-fired power plant in Oddar Meanchey to Siem Reap is scheduled to operate soon. According to the Siem Reap Provincial Administration, the responsible firm Pestech (Cambodia) PLC is constructing the foundation of the transmission line and cutting down trees that block the line. This transmission line is […]
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Japan Provides More Grant Aid for Development Projects in Three Provinces
The Japanese government has agreed to provide approximately US$400,000 in grant aid to Cambodia to develop infrastructure in three provinces including Koh Kong, Kampong Chhnang and Mondulkiri. According to the Japanese Embassy’s press release quoted by AKP on 18 December, US$196,350 will be used for road improvements in Andong Teuk commune, Botum Sakor district, Koh […]
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Construction of 46-storey Morgan Tower Complete
After ground was broken in 2018, the main structure of the 46-storey Morgan Tower was completed on 16 December, according to an announcement by the company. The announcement stated that completion include pillars and the main structure all the way up to the 46th floor. Meanwhile, the swimming pool on the 46th has been completed […]
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Koh Kong Airport Feasibility Study by LYP Group and Bangkok Airways paused due to COVID-19
The feasibility study to construct a new airport in Mondul Seima district of Koh Kong province, being undertaken by LYP Group and Bangkok Airways, has been paused due to COVID-19 pandemic. State Secretariat of Civil Aviation’s spokesman Sin Chansereyvutha said the government granted the investment project to the firm. However, the study has been paused […]
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WB: Cambodia Must Closely Monitor Vulnerabilities from Prolonged Real Estate Boom and Associated Credit Spike
The World Bank’s latest report has suggested Cambodia continue closely monitor vulnerabilities caused by a prolonged construction and property boom and an increase of credit provided to the construction and real estate sector. The report entitled Cambodia Economic Update: Restrained Recovery published in November stated that if the pandemic continues and damage caused by recent […]
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Basic Construction Material Imports Drop as Some Large Development Projects on Hold
As of September 2020, steel and cement imports continued to sharply decline, contracting by 41.4% and 38.1% year-on-year, respectively. This drop is because some large development projects, especially high-rise commercial and residential buildings, were put on hold, according to a recent report by the World Bank. The report entitled Cambodia Economic Update: Restrained Recovery published […]
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Cambodia Public Debt at US$7.9 billion as of Mid-2020; Infrastructure Development Largest Contributor
As of June 2020, Cambodia had a total of US$7.9 billion in public debt, of which 87% was used for physical infrastructure development, according to a World Bank report released in November 2020. Of all foreign loans, China accounted for the largest percentage with a total outstanding debt of US$3.7 billion, or equivalent to 46.8% […]
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Ministry Approves KrisEnergy’s Oil Production Deadline Extension to April Next Year
The Ministry of Mines and Energy has approved KrisEnergy’s request to extend the deadline of oil production to April 2021, even though the company failed to extract oil many times since mid-2020. HE Cheap Sour, Director-General of Petroleum of the Ministry of Mines and Energy, said that the measures for the failure to extract oil […]
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