Government Establishes Two Working Groups for Construction and Real Estate

• 28 March 2019
• Local News
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Credit to acechamp.com

The government has set up two working groups from the public and private sectors to find solutions for construction and real estate problems that might hinder businesses in these sectors.

According to the two decisions dated on 25 March 2019 recently obtained by Construction & Property Magazine, the government has appointed two construction and real estate working groups.

The working group representing the public sector comprises 24 members and is directed by H.E Chea Sophara, Deputy Prime Minister and Minister of the Ministry of Land Management Urban Planning and Construction (MLMUPC), while the working group of private institutions comprises 21 members and is directed by Oknha Ly Hour, CEO of Ly Hour Group.

The two working groups are tasked to collaborate with each other to gather challenges that the private sector faces so these challenges can be discussed during the 18th ‘Government-Private Sector Forum’ which is scheduled to be held on 29 March 2019 at the Peace Palace.

Mr Sorn Seap, founder of real estate firm Key Real Estate welcomed the new bodies saying that “a working group that supports the private sector is a good sign and it can resolve a lot of work, because sometimes [before] solving problems one by one is not very effective”.

“This working group set up will be good for the construction and real estate sectors,” he added.

At the same time, Ms Ann Sothida, Director of CBRE Cambodia, also supports the initiative, but said that the government should look at the laws of neighbouring countries that are more advanced than Cambodia, which takes input from international associations and civil organisations.

“When it comes to real estate, it is not only about developers and the government, it is necessary to meet with other relevant institutions in order to strengthen and make our laws and systems better,” she explained.

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