Local News
Gov’t approves four investment projects worth US$31M in PP, SHV, & Svay Rieng
The Council for the Development of Cambodia (CDC) has given permits to four private firms to invest in four projects worth over US$31 million in Phnom Penh, Sihanoukville, and Svay Rieng. The first company is Covered Bridge Cabinetry Manufacturing Co., Ltd. investing US$8.8 million in building a furniture factory in Sihanoukville. The second company is […]
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Japan to help ASEAN develop carbon capture & storage technologies
Japan plans for ASEAN nations to develop carbon capture and storage technologies as its vision for a zero-emissions Asian community. According to the Nikkei Asia report, Asian economies are still reliant on cheaper but carbon-intensive coal, thus carbon capture and storage projects are highly needed to them reduce emissions. Those technologies include carbon capture and […]
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Engineers ordered not to construct or dismantle unlicensed buildings, or face fine
The Ministry of Land Management, Urban Planning and Construction has instructed engineers registered with the Board of Engineers of Cambodia not to carry out construction work at sites that do not have permits for construction, repair, or demolition from authorities. According to the announcement of the ministry dated 8 April, the implementation of construction work […]
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Five foreign firms eyes resuming oil extraction in Cambodia after KrisEnergy fails
Five foreign companies from different countries have been interested in resuming the oil extraction operation in Block A and exploring other oil blocks in Cambodia after KrisEnergy announced bankruptcy last year. HE Cheap Sour, Director General of the General Department of Petroleum, Ministry of Mines and Energy, said on Friday 8 April that those five […]
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PP-Bavet Expressway Final Study to Be Completed in 3 Months
The Ministry of Public Works and Transport (MPWT) has set a 3-month deadline for the Chinese firm to finish the final study of the Phnom Penh-Bavet Expressway before moving to the construction stage as planned. The deadline was set during a meeting on 7 April between MPWT Secretary of State So Victor with representatives of […]
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Korea Provides US$66m Loan to Build University of Health Sciences Hospital
The Government of the Republic of Korea has provided a concessional loan of over US$66 million to the Ministry of Health of Cambodia for the construction of a health university hospital, located in Sen Sok district, Phnom Penh. The project was discussed at a meeting held on 6 April between the Secretary of State of […]
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Prince Bank Invests Additional US$35 million in New PP Airport Project Through Bond
Prince Bank has invested an additional US$35 million into the new Techo airport development project through CACI guaranteed bonds. This investment is the second in addition to the first US$15 million investment last year, making the firm hold a total of US$50 million in bonds for the new airport project. The agreement was signed on […]
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WB: High Credit in Construction & Real Estate Still Risk for Cambodia’s Financial Stability
High credit growth in the construction and real estate sectors remains a key risk to Cambodia’s financial stability despite the 2022 economic growth rate projection of 3.8-4.5%, according to a World Bank report issued on 5 April. As of 2021, credit to construction and real estate activities were accumulatively at US$6.93 billion, or 18% of […]
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WB: Law on Investment, FTA, & RCEP Expected to Attract More Investment in Cambodia
The new Law on Investment, the China and South Korea FTAs, and the Regional Comprehensive Economic Partnership (RCEP) are expected to help boost investment and trade in Cambodia in the coming years, according to a World Bank report on Tuesday. RCEP is a mega trade agreement between 10 ASEAN member states and its FTA partners, […]
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Prudential Invests US$5 million in CAIC Guaranteed Bonds
Prudential (Cambodia) Life Assurance PLC has invested US$5 million in guaranteed bonds of the Cambodia Airport Investment Co Ltd (CAIC) for supporting the development of the Techo International Airport. The signing ceremony was held on 5 April by representatives of Prudential (Cambodia) Life Assurance PLC and Prudential (Cambodia) Life Assurance PLC. Guaranteed by OCIC, the […]
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