Business and Market
New Boutique Shopping Mall to Rise in the Heart of Phnom Penh by Mid-2022
The second phase of Lucky Pavilion Mall located along Sihanouk Blvd in BKK1, Phnom Penh’s prime downtown district, is currently under development and scheduled for completion and operation by mid-2022. The developer Lucky Mall Co., Ltd. said the second phase, which includes a landmark glass façade, is being implemented after the construction was successfully completed […]
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World Bank, IMF forecast Cambodia’s 2021economic growth at 2.2%, approx. 4-5% for 2022
The World Bank (WB) and the International Monetary Fund (IMF) have recently lowered Cambodia’s economic growth forecast in 2021 to only 2.2% but predicted that the rate will rebound to 4.5 to 5% in 2022. According to a World Bank report, the 2.2% is the drop from a 4% forecast in April 2021 due to […]
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With First 4 Phases Sold Out in Pandemic, Urban Village Triumphs at Asia Pacific Property Awards 2021-2022
Urban Village and Factory Phnom Penh, the biggest mixed-use Hong Kong-standard development in Cambodia, has once again surprised the leading real estate players in the region by scoring two prestigious awards at the Asia Pacific Property Awards 2021-2022 organized by the International Property Awards, according to co-founders, Ms. Catherine Chan and Dr. Ben Li. Urban […]
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Pan Pacific Hotels Group to Open Branches in Phnom Penh & Siem Reap in 2023
Singapore-headquartered Pan Pacific Hotels Group will enter the Cambodia market in 2023, with one hotel scheduled to open in Phnom Penh and another in Siem Reap city. According to the group press release on 22 September, the group will open Pan Pacific for Phnom Penh, and PARKROYAL for Siem Reap. The 212-room Pan Pacific Phnom […]
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ADB Lowers 2021 Cambodia Growth Forecast to 1.9%, Jumping Back to 5.5% in 2022
The Asian Development Bank (ADB) has lowered the 2021 Cambodia economic growth forecast from 4% to 1.9% but expects to see a 5.5% to the growth rate in 2022. According to the Asian Development Outlook Update (ADOU) 2021 report, the main factors causing the lower growth rate are the prolonged pandemic, closures and temporary shutdowns […]
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Chinese Investors Mull Establishing Public bus service in Sihanoukville
Chinese investors have requested approval from the government to invest in establishing a public bus network and service in Sihanoukville. This request was made during a meeting between Sihanoukville Governor HE Kouch Chamroeun and Chinese investors on Wednesday 22 September. According to the Chinese investors, for the first phase, there will be 30 buses, which […]
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US$5-million Eco-Friendly Cup & Straw Factory in Pursat Province Begins Production
TK&D, a US$5-milion eco-friendly cup and straw production factory located in Kroko district, Pursat province has officially opened for operation. Founder of TK & D Lok Chumteav Tith Sokhom said during the opening ceremony on 19 September that the factory will produce paper cups and straws from flour of rice, corn, and cassava without any […]
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Phnom Penh Autonomous Port Earns US$19 million Income in First Eight Months of 2021
The Phnom Penh Autonomous Port has earned audited revenue of US$19 million during the first eight months this year, a year-on-year increase of 11%. Report from the Phnom Penh Autonomous Port issued on Monday 13 September indicated that of the total revenue, port operation attributed for US$15.3 million, the port authority US$2.4 million, other services […]
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Veng Sreng’s first modern office tower set to open in November
ISI Tower, part of the KMH Park masterplan development along Veng Sreng Boulevard, is set to serve as one of the first contemporary office buildings for businesses in the area from November this year. Developed by award-winning home-grown real estate developer Urbanland, the new ISI Tower is the only commercial office tower of its kind […]
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Three Investment Projects Worth Over US$8 million Approved for Pou Senchey & Angk Snuol Districts
The Council for the Development of Cambodia (CDC) has recently given permits to private firms to invest US$8.5 million in building three news factories in Kandal and Phnom Penh. The first investment permit has been granted to New T&K Textile Co., Ltd to invest US$2 million to build a garment factory in Trapeang Krasaing village, […]
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