Economy and Finance
How interest rate cuts affect mortgage rates and borrowers
Central Banks around the world have been lowering their interest rates as one of the monetary policy responses to the economic slowdown caused by the COVID-19 pandemic. The Federal Reserve, or FED, of the United States, for instance, has recently cut the rate to almost 0%. The same applies to the Bank of England, the […]
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Expert: Construction and real estate market to recover next year
Experts predict that the construction and real estate markets will recover in 2021 despite the dramatic decline since the end of 2019 resulting partially from the effects of the COVID-19 pandemic in 2020. In an interview with RFI, Dr Ky Sereyvath, an economics professor and also Director of the Royal Academy of Cambodia’s Centre for […]
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World Bank: Cambodia’s economic growth to slow to 2.5% in 2020 due to COVID-19
Cambodia’s economic growth is predicted to decrease by 2.5% in the first quarter of 2020, due to inactivity in the tourism and construction sectors resulting from the outbreak of the COVID-19 pandemic in the country. The World Bank released an Economic Update for East Asia and the Pacific in the time of COVID-19 report on […]
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Government calls on rental and commercial building businesses to lower or delay payments
Samdech Techo Hun Sen has called on all property owners of rental and commercial buildings business to lower or delay payments for their tenants whose businesses are affected due to the COVID-19 pandemic. The call was made at a press conference on Additional Measures to Prevent the COVID-19 Pandemic at the National Assembly on the […]
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Housing loans affected by COVID-19 granted relief
Home improvement loans and housing loans are among the loans that are being granted relief through loan restructures from banks and microfinance institutions (MFIs). The directive aims to ease the burden of loan borrowers whose incomes are reduced and have difficulty paying back due to the COVID-19 pandemic. In a directive statement issued on 27 […]
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Sihanoukville’s economic crisis a painful adjustment toward sustainable development
Sihanoukville, once dubbed the Macao of Cambodia, is currently facing a crisis. Unfinished construction projects are scattered everywhere around the city; numerous local citizens have been left unemployed; and most noticeably, there has been a massive decline in property rental price, leaving many house owners in debt. These issues have been mainly caused by the […]
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Construction in context of COVID-19 stable for Q1 2020, says MLMUPC
A spokesman for the Ministry of Land Management, Urban Planning and Construction, H.E. Seng Lot, said that the construction sector in Cambodia in the context of COVID-19 has not decreased. The statistic was announced during a press conference on “Progress and Continuing Direction of the Ministry of Land Management, Urban Planning and Construction” at the […]
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Cambodia will need 50,000 houses per year
Cambodia will need around 50,000 houses a year in order to supply the growing population, according to researchers’ predictions. “At present, we are responding to the housing supply for the private sector by constructing houses to fulfill the needs of the people,” said H.E. Seng Lot, Ministry of Land Management spokesperson, at a press conference […]
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2015-2025 IDP action plan will double Sihanoukville’s potential
Sihanoukville is being transformed into a multi-purpose special economic zone following the principles of the Special Administrative Zone, according to the 4th point of the Ministry of Economy and Finance Press Release on Progress of 2015 – 2025 IDP Implementation. The Industrial Development Policy (IDP) represents a comprehensive vision of the Royal Government of Cambodia […]
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PM postpones construction projects to fight against COVID-19
Construction projects scheduled to start in 2020 must be postponed due to COVID-19, according to Samdech Techo Hun Sen’s speech on 3 March 2020 at the 2019 Annual Review Conference and the 2020 Ministry of Health’s Continuing Direction. “Any construction sites that have not been built must be suspended, except for foreign-funded or Cambodia’s budget […]
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