Cambodia to Receive US$64 million in Economic Recovery Aid from Australia
The Australian Government has decided to provide Cambodia with AU$90 million (equivalent to US$64 million) economic recovery aid along with technical assistance for the next five years. This is according to a meeting between Minister of Economy and Finance HE Aun Porn Moniroth and Australian Ambassador to Cambodia Pablo Kang on Wednesday 18 August. The […]
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Construction on 800km/h Maglev Train in North China Starting Soon
An 800km/h maglev test line, for the world’s fastest ground vehicle, is scheduled to begin construction in North China’s Shanxi Province, as the preparation work is already complete. The test line is part of the laboratory work for the low-vacuum magnetic levitation high-speed train project which can run faster than airplanes, at a ground speed […]
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Five Reasons Why Gov’t Selects Mondulkiri as Kingdom’s Fourth Economic Pole
The Cambodian government recently approved the implementation of the Mondulkiri Tourism Development Master Plan for 2021-2035. Through this long-term vision, Mondulkiri province has been chosen as the kingdom’s fourth economic pole. According to the Prakas of the Ministry of Tourism, here are the reasons why: 1. Studies have shown that Mondulkiri has a high opportunity […]
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Gov’t to Issue New Regulations Strengthening Fire Protection in High-Rise Buildings
The Ministry of Interior is planning to issue new regulations strengthening fire protection management nationwide, especially for high-rise buildings and buildings with basements. According to an official meeting on Wednesday 18 August, the ministry is currently drafting the regulations, with the main objective of enhancing the working capacity of firefighter teams both on-duty and volunteer. […]
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Chinese & Local Firms Mull Building 200ha Factory Complex in Kampong Speu
Kampong Speu Provincial Governor HE Vy Samnang has confirmed that a group of local and Chinese companies are expressing interest in setting up a 200-hectare factory complex in Kampong Speu province. This project was mentioned during a recent meeting between representatives of investment companies and HE Vy Samnang. “The firms have already presented investment plan […]
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MoE Issues Guidelines on How to Address Impact Resettlement for Involuntary Cases
The Ministry of Environment (MoE) has established new guidelines for private developers on how to deal with resettlement for involuntary cases. The new guidelines were announced according to the official workshop held in late July. According to the 6-page guidelines, resettlement applies to people who may face the risk of leaving their homes, and/or involuntarily […]
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First 59kg of Gold Exported, Another 100kg Set for Shipment Soon
Cambodia has made the first shipment of 59kg of gold ore to Australia for purification with another 100kg to be sent a next shipment soon, a senior official confirmed on Wednesday 18 August. Director-General of Ministry of Mines and Energy HE Yos Monirath, said that after purification, Renaissance Minerals Cambodia Limited will sell the 99.99% […]
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Phnom Penh Land Department to Relocate to Sangkat Mittapheap
The Phnom Penh Department of Land Management, Urban Planning, Construction and Cadastral will be relocated to a new location at the former building of the Ministry of Rural Development at the corner of Street 114 and Street 169, Sangkat Mittapheap, Khan 7 Makara. According to the announcement issued on 17 August, the department is currently […]
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Bluebell Group Announces Retail Operations in Cambodia
Bluebell Group, a distributor and operator of high-end brands, has entered the Cambodian market as it is also managing the Peak shopping mall located in the centre of Phnom Penh. At the opening ceremony of operations in Cambodia on Monday, Mr Pierre Balsan, CEO of Bluebell Cambodia, stated that Cambodia is a new frontier of […]
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MEF: Cambodia’s Economic Growth Projected at 4.8% in 2022
The Ministry of Economy and Finance has forecasted the kingdom’s economic growth in 2022 at 4.8% due to the gradual positive recovery signs driven by the effective vaccination campaign. Speaking at the seminar on the macroeconomic policy framework and public finance 2022 on the morning of Tuesday 17 August, Minister of Economy and Finance HE […]
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Two Local Firms Co-Establish Standardised Training Program for 1,000 Real Estate Agents
LSCG Real Estate and Milky-Way Reality Investment Plc have jointly invested US$1 million to establish a standardised training program for 1,000 real estate agents nationwide. The training will be based on a new modern Chinese technology, aiming to equip agents with know-how skills and keep them updated with current trends in the digital world. LSCG […]
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Gov’t Approves Further US$100-million Financial Support Scheme for SME Sector
The Ministry of Economy and Finance (MEF) has approved a financial support scheme for the SME sector Phase II with a budget of US$100 million after the first phase was successfully implemented, according to a press release on Monday 16 August. The project aims to provide low-interest loans to SMEs in prioritised sectors such as […]
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