Cambodia to name a coastal road “Cambodia-Maldives Friendship Road”
A road in a coastal province will be chosen to name “Cambodia-Maldives Friendship Road” to show the friendly relations between Cambodia and the Republic of Maldives. Cambodian Prime Minister Samdech Hun Sen stated on 16 January during his official visit to Maldives that one of the roads in the coastal area will be chosen and […]
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Gov’t Establishes 29 New Villages in Kratie Province
The Ministry of Interior has established 29 new villages in Kratie province’s Snuol district to facilitate local management and development. According to Prakas No. 6946, these new villages are taken from existing villages of some communes of Snuol district, including: – Dangrek village and Trapeang Chhouk village in Khum commune – Samaki village, Rovieng Chey […]
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Experts optimistic about Cambodia’s real estate recovery in 2023
Despite the Covid-19 crisis and the global economic crisis, local real estate experts have expressed optimism over the recovery of Cambodia’s real estate market in 2023. President of KW Cambodia Oknha Kim Heang said that in the last three years from 2020 to 2022, many real estate companies have closed due to the impact of […]
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Battambang selected as the city with best new year celebration events
Battambang province was ranked No. 1 in the “City with the best New Year Celebration” competition, according to the announcement of the National Committee for Clean City Assessment on 10 January. The evaluation is made on the new year events held from 31 December 2022 to 2 January 2023) by allowing the public to vote […]
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Construction of US$35m Russey Keo bridge 93% Complete
As of 16 January, the construction of the Russey Keo cable bridge across the Tonle Sap River has been 93% completed. The main structure of the bridge has already been completed with both sides connected. The structure completion ceremony was held on 16 January under the presidency of Phnom Penh Governor Khuong Sreng and OCIC […]
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Japan Assists Cambodia in Planning Urban Water Supply Development
The Ministry of Industry, Science, Technology, and Innovation, in collaboration with the Japan International Cooperation Agency (JICA), will co-develop an urban water supply development plan. The agreement was signed between the two parties on 12 January 2023. The project will be implemented in mid-2023 when both parties will draft guidelines for the development of the […]
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Accor to Launch Cambodia’s First Ibis Budget Hotel in Q1 2023
Renowned hotel group Accor will open the first Ibis Budget hotel in Cambodia, Ibis Budget Phnom Penh Riverside, in the first quarter of 2023. According to Travel News Asia last week, the Cambodian Overseas Investment Company (OCIC) of Neak Oknha Pung Kheav Se owns the new hotel. “We are happy to be able to propose […]
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Cambodia Receives Over US$4bn FDI in 2022
In 2022, Cambodia received foreign investment inflows worth US$4.6 billion, an increase of 7.5% compared to 2021, according to the report of the Council for the Development of Cambodia. Foreign direct investment (FDI) in the SEZ accounted for 27%, while investments outside the SEZ accounted for 73%. Meanwhile, in 2022, local investors had a total […]
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Cambodia, S. Korea Vow to Further Strengthen Cooperation as Bilateral Trade Reaches US$5bn
Cambodia and Korea are committed to expanding cooperation in all fields as bilateral trade volume reaches US$5 billion, according to a meeting between the President of the National Assembly of Cambodia Samdech Heng Samrin and the former President of the National Assembly of Korea Park Byeongseug on 12 January. During the meeting, the two leaders […]
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Average Land Prices in Phnom Penh to Increase by Only 5% in 2023
The average growth rate of land prices in Phnom Penh is expected to be as low as 5% in 2023, mainly due to the concern caused by the upcoming national election, according to the 2023 real estate market forecast report by PropNex Cambodia, The report added that the average land price growth rate in Phnom […]
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Construction of New Road Connecting Bokor to NR4 approx. 60% Complete
As of January 2023, the construction of a new road connecting Bokor National Park to NR4 with a total length of 61km, is approximately 60% complete according to a Sokha Real Estate announcement on 10 on January. This new road connecting to NR at km 158 + 200 from Bokor Mountain passed through the economic […]
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Mid-Range & Affordable Housing Still in High Demand in 2023
Mid-range and affordable housing will continue to see the highest demand in 2023 as the supply remains far below the demand of 30,000 units per year. Mr Chrek Soknim, CEO of Century 21 Mekong, said that in 2023, the demand for medium-priced and affordable housing will continue to be high demand due to the limited […]
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