Construction Sector Forecast to Recover Quickly in 2021

• 31 December 2020
• Local News
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Chairman of well-known local conglomerate Overseas Cambodia Investment Corp (OCIC) Neak Oknha Pung Kheav Se has expressed his optimism that the Cambodia construction sector will catch up quickly since the kingdom’s economy is forested to grow by 3.5% to 5% in 2021.

Speaking to Construction & Property Magazine on 19 December, Neak Oknha Pung Kheav Se said, “According to the World Bank and ADB forecasts, the economy will grow by 3.5% to 5% by 2021. Thus, I believe that the construction sector also catches up quickly too as this sector is always the backbone of the growth.”

The World Bank has recently forecasted Cambodia’s economy will grow by 4% in 2021, while ADB positively foresees that growth will rebound by 5.4% in 2021. (Read more and more)

Despite the COVID-19 Crisis, in the first ten months of 2020, the Cambodian government approved a total of more than 4,000 construction projects, equivalent to an investment of more than US$6,4 billion. (Read more)

Among those, OCIC alone has invested at US$300 million in large infrastructure projects in 2020 and plans to invest over US$600 million more next year. (Read more)

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