Economy and Finance
3,263 Construction Projects Registered in 9 Months
3,263 construction projects were registered in the first nine months of this year, a 476-project decrease from the same period last year. Figures from the Ministry of Economy and Finance issued recently showed that the value of registered construction projects was US$4.6 billion, a year-on-year decrease of 20.6%. Of the total registered construction projects, 2,909 […]
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Vietnam Biggest ASEAN Investor in Cambodia, Reaching US$2.8bn to Date
Vietnam is the biggest ASEAN foreign direct investor in Cambodia with 188 active projects and total registered capital of US$2.85 billion, VN Express reported on Wednesday. In the first 11 months this year, Vietnam has invested in four new projects in Cambodia with a registered capital of nearly US$90 million, up 4.6 times year-on-year, according […]
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Expert: Condo Market Recovery Uncertain in 2022, Pending Greater Foreign Investment Inflow
Due to the impact of the COVID-19 pandemic, the condo market in Cambodia has been hit hard for two years in a row, 2020 and 2021. 2021 has been even worse than 202o given lockdowns and the widespread new variants. Cambodian real estate expert and chairman of KW Cambodia Dr Kim Heang has projected that […]
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Royal Group Acquires 45.09% of Phnom Penh SEZ, Becoming Biggest Shareholder
Inter Logistics (Cambodia) Co Ltd, a subsidiary of the Royal Group, has acquired 45.09% of Phnom Penh SEZ Plc (PPSP) and now becomes the largest shareholder of the company. In a press release issued on 21 December 2021, Neak Oknha Kith Meng, chairman of the Royal Group and Inter Logistics (Cambodia), said that the acquisition […]
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NBC: Total Credit Reaches US$44.9 billion by Q3 2021; Construction Contributes 25.6%
By the end of the third quarter of 2021, total domestic credit provided by banking and financial institutions reached US$44.9 billion, an increase of 23% compared to the same period last year, according to a National Bank (NBC) report on 20 December. Among all, credit given to the construction sector was at US$11.5 billion, or […]
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Cambodia, China Set SSEZ as Bilateral Industrial Cooperation Zone
Sihanoukville Special Economic Zone (SSEZ) will soon become a special hub for bilateral industrial cooperation between Sihanoukville and Jiangxi Province of China, according to senior officials of both countries. Sihanoukville Deputy Governor Long Dimanche and Party Secretary of the Communist Party of China Committee of Wuxi City Du Xiaogang chaired an online meeting on 17 […]
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ABA Bank Invests US$30m in New Phnom Penh Airport Development Through Guaranteed Bonds
Cambodia Airport Investment Co Ltd has sold another US$30 million guaranteed bond to ABA Bank to raise more funds for the development of the new Phnom Penh airport. The signing ceremony was held on December 14 between Overseas Cambodian Investment Corporation Ltd (OCIC), Cambodia Airport Investment Co., Ltd (CAIC) and ABA Bank. The bond is […]
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Real Estate Firm JS Land Plc Receives In-Principle Approval for Stock Listing
JS Land Plc, a housing developer, has received in-principle approval for a stock listing on the Cambodia Securities Exchanges (CSX). The approval was made in an official meeting on the non-banking financial service sector held on 13 December under the presidency of HE Aun Pornmoniroth, Minister of Economy and Finance. In the meeting, the non-banking […]
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Phnom Penh Autonomous Port Earns US$30 million in 11 Months
During an 11-month period of 2021, the revenue of Phnom Penh Autonomous Port (PPAP) was at US$30 million, a 14% increase compared to the same period in 2020. According to the PPAP’s report published on 9 December, of total revenue, port operation revenue was at US$24.37 million (up 16% y-o-y), port authority revenue at US$3.23 […]
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Construction & Real Estate May Not Return to Pre-COVID Level Anytime Soon, says WB
The construction and real estate sector in Cambodia remain under pressure stemming from the COVID pandemic and may not recover to the pre-pandemic level anytime soon, despite the 2022 GDP growth forecast of 4.5%, according to a World Bank report issued on 9 December. The report said that major commercial and residential development projects continued […]
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