Collection of stamp duty on property transfers increases by 60%
The General Department of Taxation has collected almost US$2 billion in tax revenue over an eight-month period with stamp duty on property transfers seeing the sharpest increase. According to a GDT press release dated 12 September, the department collected US$1,952 million, achieving about 85.33% of the national plan. This shows an increase of about 29.89% […]
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Cambodia inks deal with Laos on the 2900-megawatt power purchase
The Cambodian government has inked a deal with the Laos government to purchase a total of 2,900 megawatts of power to fulfil the current shortage of electricity as well as to reduce the cost of electricity in the future. Signed by Cambodian Prime Minister Hun Sen and Laos Prime Minister Thongloun Sisoulith, the agreement includes […]
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Cambodia, Thailand agree to resume OCA talks
After nearly two decades of hiatus, Cambodia and Thailand have agreed to resume talks on development of their overlapping claims area (OCA) on offshore oil fields, on the principle that it should be developed based on mutual interests. The agreement to resume talks was made in a meeting between the Cambodian Ministry of Mines and […]
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Malaysia to introduce strict new construction safety regulations
Following three serious construction site incidents since June, Malaysia’s Department of Occupational Safety and Health (DOSH) will introduce strict new rules holding developers and designers responsible for safety, not just contractors. Four workers died in June when a retaining wall collapsed at a resort construction site, four more were injured when a platform collapsed in […]
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Japan leads China in SE Asian infrastructure funding
Despite China’s deep pockets and high-profile infrastructure projects in SE Asia via its Belt & Road Initiative, Japan continues to outspend its neighbour on large-scale regional projects. According to data gathered by Fitch Solutions and reported in Bloomberg, Japanese-backed projects in Southeast Asia’s six biggest economies – Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam – […]
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Cambodia economy gets boosted with US$2.7 billion airport investment
Along with steady economic growth, Cambodia needs billions of dollars in investment to improve its aviation sector to help facilitate trade as well as accommodate the 15 million air passengers expected to enter the country by 2030. While improving the aviation sector is part of the government’s plan to push the country to become an […]
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New national fire safety systems code launched in Cambodia
The General Commissariat of the National Police and the National Quality Inspection Centre for Fire Safety Systems has recently launched a new national fire safety systems code to protect occupants and properties by imposing technical standards. The new code entered into force on 12 August and introduced to the public at the 09 September seminar […]
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IMF Research: Increase property tax to advance economic growth in Cambodia
A new research paper funded by the International Monetary Fund (IMF) suggests Cambodia should increase property tax to fund billions of dollars of infrastructure spending, a move that will help advance economic growth. Published on 06 September, the ‘IMF Working Paper: Advancing Inclusive Growth in Cambodia’ analyses how increasing either property tax, VAT, or income […]
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Cambodia, Laos to sign 2,400 MW power deal
Cambodia and Laos are to sign a power deal allowing Cambodia to import 2,400 MW from Laos, with the Council of Ministers scheduled to discuss the details of the deal on 11 September. The deal is scheduled to be signed next week during the official visit of Lao Prime Minister Thongloun Sisolith to Cambodia. Victor […]
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Thai company wins 60 MW solar investment bid
Thailand-based developer and operator of renewable power Prime Road Alternative has won the public bidding on a 60-MW solar project located in Kampong Chhnang province, and will generate the lowest tariff in the Southeast Asia region. The public bidding on the project was started in February this year after a feasibility study conducted by an […]
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New 4-star hotel opens in Kampong Thom province
Kampong Thom Royal Hotel & Restaurant officially opened its doors on 09 September in the heart of Kampong Thom province, adding another 87 rooms to support the tourism sector in the province. Located in Stung Sen city, Kampong Thom Royal was built with US$5 million from Cambodian investors and comprises 87 guest rooms as well […]
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‘Amory 7 Makara’ development phase two plots open for sale
Real estate firm Amory has announced the launch of sales for the second phase of the ‘Amory 7 Makara’ development project over the weekend with around 300 potential customers attending the event, according to their press release. Located along National Highway No 6 to Oknha Ly Yong Phat and links to National Road 5, the […]
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