Construction of Siem Reap Angkor International Airport is 86% Complete
Siem Reap Angkor International Airport is nearing completion, with the construction work currently 86% finished, according to a meeting held between Prime Minister Hun Sen and Yunnan Investment Group on 6 March 2023. The CEO and Vice Chairman of the Board of Directors, Mr Liu Minglin, confirmed that the airport is expected to undergo a […]
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Lao Company Mulls to Build 80m-Tall Buddha Statue in SHV
Data Technology Lao Sole company has announced its plans to build an impressive 80-metre Buddha statue in Preah Sihanoukville Province, Cambodia, to attract national and international tourists to the country. The announcement was made during a meeting between Wei Qianjiang, CEO of Alpha Data Technology Lao Sole Co., Ltd, and Thong Khon, Minister of Tourism […]
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US Pledges to Attract More US Investors to Cambodia
Six major US companies have expressed their commitment to help attract more US investors to Cambodia during a meeting with HE Senior Minister Sun Chanthol, Minister of Public Works and Transport, and the delegation of the US-ASEAN Business Council. The companies include ConocoPhillips, Ford (RMA Group), Pfizer, Visa, and Vriens & Partners. The meeting was […]
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Multi-Purpose Port & Logistics Centre in Kampong Chhnang Equipping STM Technology to Open Soon
The Ministry of Public Works and Transport recently held a meeting to discuss the development progress of the Kampong Chhnang multi-purpose port and logistics centre, which is expected to open soon. The meeting was chaired by HE Senior Minister Sun Chanthol, Minister of Public Works and Transport, along with KLP.T TRANSPORTATION Co., Ltd and members […]
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Gov’t Gifts 300 Hectares of Social Concessional Land Near Cambodian-Vietnamese Border for Veteran Families
The Cambodian Government has announced the gift of a 300-hectare social land concession located along the Cambodia-Vietnam border line to veteran families and other stakeholders, according to the statement of Svay Rieng Provincial Administration on 5 March 2023. The social land concession land is situated in Chantrea commune, Chantrea district, and Tnaot commune, Kampong Rou […]
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Cambodia & Japan Sign MOU on Cooperation, Transmission & Distribution of Energy
The Ministry of Mines and Energy (MME) and Japan Insurance and Investment Agency (NEXI) have signed a Memorandum of Understanding (MOU) on cooperation for the transmission and distribution of energy. The signing took place during the Asia Zero Emission Community (AZEC) meeting held on 3-4 March 2023, in Tokyo. The AZEC meeting was attended by […]
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Construction of US$38m Koh Pic-Koh Norea Bridge 62% Complete
The construction of the Koh Pich-Koh Norea cable-stayed bridge is now 62% complete as of 4 March 2023 according to Phnom Penh’s Department of Public Works and Transport. With a budget of US$38 million, the bridge is expected to be completed by the end of 2023, and it will serve as an important gateway connecting […]
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Sports Village is Ready for Official Inauguration on 20 April
The 2023 SEA Games Village at the Moradok Techo National Stadium in Cambodia is set to be inaugurated on 20 April 2023, in preparation for the upcoming Southeast Asian (SEA) Games. The announcement was made by HE Vath Chamroeun, Secretary General of the National Organising Committee for the 2023 SEA Games and ASEAN Para Games […]
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Trusts Register with Total Capital of US$730m as of February 2023
Cambodia’s Trust Regulator (TR) has reported that 492 trusts have been registered as of 23 February 2023, with a combined capital of US$735 million. The Commercial Trust sector has the largest number of trusts, accounting for 66% of the total registered capital at US$492 million, followed by Financial Trust at US$174 million and Public Trust […]
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Asia-Pacific GDP Forecast to Grow Slowly in 2023, Drop to 2.9% Growth in 2024
The Asia-Pacific region’s economy is expected to experience slow growth in 2023, according to a report from an Asia-Pacific Economic Cooperation (APEC) research unit. The report forecasts that the region’s GDP will expand by 3.1% this year before dropping to 2.9% growth in 2024, due to downside risks continuing to pressure recovery. “The enduring pandemic, […]
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Gov’t Plans Putting More Ferries from Koh Norea to Chroy Changvar to Facilitate Traffic
The Phnom Penh Municipal Administration has announced plans to ease traffic congestion caused by the construction of the Monivong flyover. The Department of Public Works and Transport has been assigned to study the installation of additional ferries from Koh Norea to Koh Pich, providing an alternative travel route to the Chroy Changvar area. This measure […]
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2022 Saw 19% Decrease in Financing Capital Expenses & 11% Increase in Public Budget
Cambodia’s financing capital expenditure on infrastructure development in 2022 reached only US$425 million (1,703 billion Riels), slower than the annual budget law and decreased by 19.75% compared to 2021 according to the Ministry of Economy and Finance’s report. Of the total 28.57% financing capital expenditure, domestic financing decreased by 33.50% while foreign financing decreased by […]
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