Cambodia Imports Over US$1 Billion of Construction Materials in 2020, Down by 7.3% Y-o-Y
Construction materials imports were valued in 2020 at over US$1 billion, a decrease of 7.3% compared to 2019, according to a recent report by the Ministry of Commerce. Of all construction materials, steel imports fell by 27.52%, from about US$556 million in 2019 to US$403 million in 2020. Similar, cement imports value dropped sharply by 48.59% from US$128 million in 2019 to US$66 million in ...
Read MoreCCA Chairman Donates US$180k to Cambodian Red Cross
Chairman of the Cambodia Constructors Association (CCA) and the Board of Canadia Group and OCIC Neak Oknha Pung Kheav Se has recently donated US$180k to the Cambodian Red Cross, while previously donating almost US$10 million to the government to fight against COVID-19. This latest donation is the fifth time since April this year that Neak Oknha Pung Kheav Se has been donating funds to the gover...
Read MoreColliers: Asia Pacific Hospitality Sector Expected to Hit 2019 baseline by 2023, Cambodia to Lead in Casino Segment
The Asia-Pacific hospitality sector is projected to recover steadily from the last quarter of 2021 onward, and to hit the 2019 baseline by 2023, according to a recent report by an investment management company Colliers International. The report, entitled Colliers Hotel Insights Q1 2021, also predicted that Cambodia and Macau will lead the way in the casino segment, with Singapore, the Philippin...
Read MoreMalaysia’s MIDF Research: Cambodia Aviation Market to Quickly Recovery in Next Two Years
Malaysia's MIDF Research has predicted that the Cambodian aviation market will gain momentum in the next two years after the COVID-19 pandemic subsides, according to The Malaysian Reserve. The forecast analysed the 2021 and 2022 financial status of Malaysian firm Muhibbah Engineering, which has a 21% stake in Cambodia's three major airports: Phnom Penh, Siem Reap and Sihanoukville airports. ...
Read MoreWorldBridge Sport Village Project Launched, Set for Completion in 2023
Sales for a large-scale commercial building and residential project “WorldBridge Sport Village” have officially been opened, while construction is set for completion by 2023 when Cambodia hosts the SEA games. The project is spread over 6 hectares next to Morodok Techo Stadium north of Phnom Penh, or in the so-called Samdech Techo Hun Sen Dragon City. Invested in by a subsidiary of the WorldB...
Read MoreVietnam Plans to Build Over 9,000km of Expressways by 2050
Vietnam’s Transport Minister Nguyen Van The has said the nation is striving to build a total of 5,000km of expressways by 2030 and over 9,000km by 2050, according to Vietnam Plus. The ministry’s report issued last month revealed that Vietnam currently has a total of 1,046km of expressways in operation. The ministry is also currently building an additional 900km. Given this current amount, ex...
Read MoreLarge-Scale Infrastructure Renovations in Siem Reap and Sihanoukville Part of Tourism Recovery Roadmap
The government earlier this week approved the Roadmap on Cambodia's Tourism Restoration Plan, of which the large-scale infrastructure renovations in Sihanoukville and Siem Reap are the most crucial drivers in attracting more tourists after the pandemic subsides. The road map is divided into three stages. The first and the most important is the rehabilitation of tourism through public investment...
Read MoreMalaysia Compensates Singapore US$76million After Cancelling KL-Singapore HSR
Malaysia has compensated Singapore over US$76 million after terminating the KL-Singapore High-Speed Railway (HSR) project, according to CNA on 29 March. The project was officially abandoned in early January 2021 due to disagreements between the two governments, especially over high costs and Malaysia’s political issues. (Read more) However, Singapore had already signed and published five ten...
Read MoreCentury Entertainment Hopes to Open Large Koh Kong Casino by late April After Delays
Hong Kong-based casino operator Century Entertainment International Holdings Ltd hopes to open its casino at a new venue in Dara Sakor district in Koh Kong province by late April after delays due to the COVID-19 pandemic, reported IAG. According to the initial plan, the casino was set to open start operations by February after finishing the relocation procedure from Sihanoukville. However, due ...
Read MoreApsara Authority Warns Locals to Stop Land Selling Transactions in Angkor Protected Area
The Apsara Authority has repeatedly warned the public to immediately cease any land buying and selling transactions in the Angkor heritage protected site or face legal action. The Authority issued the warning letter on 01 April after discovering a Facebook page posting contents selling land plots in the Angkor protected area. “The purchase and sale of land in the Angkor area are prohibited a...
Read MoreApsara Field’s Oil Production Lower Than Expectation, Affecting Firm’s Restructuring Plans
The oil production from five wells in Cambodia’s Apsara Field is lower than expected, providing less revenue and affecting the firm’s restructuring plan, according to a KrisEnergy announcement on 31 March. KrisEnergy said in the announcement that it is evaluating and revising plans to make sure oil production hits the target. The Apsara oil field started production from a single well, A-01D,...
Read MoreProperty Title QR Code Scanning Service Back Online After Temporary Suspension
The Ministry of Land Management, Urban Planning and Construction announced yesterday that the property title QR code scanning system is back online after a temporary suspension for two weeks. According to the ministry announcement, the technical team has already re-programmed the system. Thus, the service will be easier and smoother than before. (Read more) The QR code scan application was l...
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