Cambodia Approves 1330 Construction Projects Worth US$1.81bn in Five Months of 2024

• 16 July 2024
• Local News
• 1700 Views

The Ministry of Land Management, Urban Planning and Construction (MLMUPC) approved 1,330 construction projects in the first five months of 2024, with a total investment capital of $1.811 billion. This marks a 9% decrease from the 1,463 projects approved in the same period last year.

The construction area covered 4.27 million square metres, a 22% decline and investment capital amounted to US$1,811 million, down 20 % from the previous year.

In May alone, 231 construction projects received approval, a 14.1% decrease compared to the previous month. However, the approved construction area rose by 49.7% to 1.37 million square metres, and the investment capital increased by 160% to US$739.7 million.

Additionally, imports of construction materials rose by 23.1%, and domestic cement production increased by 4.7% to approximately 3.5 million tonnes. This indicates a positive trend in the construction sector, according to the report.

“The key economic indicators in May and the first five months of 2024 have shown signs of improvement, especially in international trade and tourism, while inflation has returned to a better situation. However, construction activity has slightly slowed down,” the Ministry of Economy and Finance stated in the recently updated report.

• Projects Development