Construction Sector Contributes 11.5 % to 2018 Economic Growth Forecast

• 17 June 2018
• Local News
• 5737 Views

Cambodia’s economic growth has been revised to 7% by the National Bank of Cambodia (NBC) with the construction sector making a positive contribution to the overall growth.

According to the NBC semi-annual report, Cambodia’s economy is forecast to grow at 7 %, with the construction sector alone contributing 11.5%, exports at 11.6% while tourism at 12.5%.

Speaking of the positive economic growth of the country, H.E. Chea Chanto, Governor of NBC highlighted the strong contribution of the construction sector.

“Cambodia’s economy continued to grow steadily, especially in the fields of exports and tourism, with robust growth in construction and continued growth of the agricultural sector, which would make economic growth in 2018 viable high.”, the Ministry of Information (MoI) said.

Meanwhile, at the same time, loan portfolios for the construction and real estate sectors have also increased. In the first six months of 2018, loan portfolios from both commercial banks and microfinance institutions (MFIs) reached US$22.5 billion, an increase of 18.8%.

Among the business sectors, the construction and real estate sectors took out 16.5% of the total loan portfolio from commercial banks and 4% from microfinance institutions (MFIs).

These figures reflect the country’s booming investment projects. A total of 586 projects with an investment value of US$356 million have been approved during the first two months of 2018, according to the Ministry of Land Management, Urban Planning, and Construction (MLMUPC). (Read more )

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