Cambodia’s Construction Material Imports Reach US$921 Million in H1

• 5 October 2023
• Local News
• 1506 Views

In the first half of this year, Cambodia imported construction materials worth an impressive US$921 million, signalling a robust market for development, according to a dynamic report from the Ministry of Economy and Finance revealing that 1,849 construction permits have been approved.

While this figure reflects a 6.3% decrease from the same period in the previous year, other statistics tell a compelling story. Despite 151 fewer approved construction permits, constituting a 7.6% drop, the total construction area expanded substantially by 138%, reaching 6.8 million square metres. Equally striking is the surge in investment volume, which soared to US$2,759 million, marking a noteworthy 128% increase compared to the previous year.

The report astutely observes that, even amidst the “new normal,” Cambodia’s construction sector remains resilient. While the number of projects may be declining, the sector’s vitality is evident in the substantial construction areas and burgeoning investments. These positive signs affirm that the projects undertaken recently predominantly comprise large-scale, impactful developments.

• Business and Market