Economy and Finance
When COVID-19 ends, foreign investors will return, but with thin pockets
We know that the COVID-19 has had a significant impact on safety and the global economy as a whole, but having a clear understanding of how it affects and how much it is has affected industry is difficult to predict. What we’ve all heard for the time being is that after the virus has hit […]
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GMAC issues appeal letter requesting landlords to reduce rental fees by 30%
The Garment Manufacturers Association in Cambodia (GMAC) issued a formal letter on 08 May 2020 appealing to landlords who lease premises for all garment, footwear, and travel bag industries in Cambodia to reduce their rental fees by at least 30% for 3-6 months given the severe impact of COVID-19 on the sector. In its appeal […]
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Land Ministry to draw up a budget of about US$100 million for LASED III
The Ministry of Land Management Urban Planning and Construction (MLMUPC) is preparing to propose another project on the Land Allocation for Social and Economic Development Phase III to improve living standards of people through allocating land for agriculture and building houses. The proposed project will utilize a budget of US$100 million, according to Mr Rithy […]
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AIIB announces US$5 billion COVID-19 recovery fund
The Asian Infrastructure Investment Bank (AIIB) announced plans in April to launch a US$5bn crisis recovery fund to support a quick turnaround after the coronavirus pandemic. The US$5bn fund is intended to meet emerging demand among its low-income members, whose economies could be hit the worst by the Coronavirus. Cash would be made available for […]
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Dr Kim Heang: What concerns me most is that foreign investors don’t come and Khmer take no action
Many business executives have suspended their projects for fear of themselves of their workers being affected by the spread of the COVID-19 pandemic, which remains a serious threat to global health with no certainty when it will be resolved. However, as an outstanding real estate investor in Cambodia, Dr Kim Heang continues to develop his […]
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CBRE: Retail rental prices drop sharply while supply increases substantially in Q1
CBRE Cambodia has reported that retail rental prices saw a sharp slowdown in February 2020 as a result of the COVID-19 pandemic. According to the CBRE report, retail rental prices sharply declined by 9.2% for community malls and 10.5% for prime retail podiums in February 2020. The decline resulted from the spread of COVID-19 causing […]
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1 million ounces of gold expected from Okvau, says Ministry of Mines
A senior official of the Ministry of Mines and Energy said that Cambodia expected to extract nearly 1 million ounces of goal based on the study on the first gold mine in the Okvau area in Kaev Seima district in Mondulkiri province. The statement was made by H.E. Yous Monyrath, Director General of Mines in […]
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CBRE: Landed property sale prices to remain robust by mid-2020
CBRE Cambodia has predicted that landed property (Borey) sale prices in Phnom Penh will remain robust in the first six months of 2020. However, prices may start seeing delayed corrections due to household cash flow distress caused by the outbreak of COVID-19. According to CBRE’s report, one of the main drivers is due to the […]
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EU Grants US$14 Million for Bakheng Water Facility
The European Investment Bank (EIB) secured a EUR 12.7 million (approximately US$13.9 million) grant from the European Union for the construction of the Bakheng Water Treatment Plant and 500 kilometres of water distribution network in the Cambodian capital, Phnom Penh. The infrastructure will bring safe, drinking water and improve quality of living for 700,000 people […]
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COVID-19 poses challenge for extraction of Cambodia’s first oil
The impact of COVID-19 on the first oil extraction in Cambodia will be discussed and evaluated further after the virus crisis has ceased, said H.E Cheab Sour, Director General of the Department of Petroleum, at a press conference on the progress and continued working direction of the Ministry of Mines and Energy on the morning […]
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