2,235 Construction Projects Worth Over US$2.5 billion Approved in H1, Down by 28% Y-O-Y

• 25 August 2021
• Local News
• 1548 Views

During the first half of 2021, the Ministry of Land Management, Urban Planning and Construction (MLMUPC) issued permits for a total of 2,235 construction projects with an estimated investment value of US$2.5 billion, down by 28 % compared to the same period last year.

MLMUPC Secretary of State HE Lao Tipseiha confirmed the numbers with PNN TV broadcast on Monday 23 August.

He added said that the number of applications for constructions, size of construction sites, investment capital and construction material imports all decreased due to the impact of COVID-19

According to a recent report from the National Bank of Cambodia (NBC), the number of construction projects, the investment value, and total area approved in H1 2021 have decreased by 11.4%, 34.3%, and 29.9% respectively, compared to the same period last year.

However, HE Lao Tipseiha expects the construction sector to recover soon when the COVID-19 pandemic subsides.

Though the sector is facing a downward trend, the ministry is still actively monitoring the sector by tightening construction laws to ensure the quality and safety of constructions, he added.

• Analysis
• Economy and Finance