Policy and Strategy
Government reduces US$918 million in expenses from state departments excluding road development
Samdech Techo has announced that the government has reduced US$918 million in expenses from all state institutions to combat the COVID-19 outbreak; however, the road and canal development budget will be not reduced, as it is a high priority need. The announcement was made at a press conference on updating the current situation of COVID-19 […]
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Samdech Techo continues calling for private sector rental price reduction
Samdech Techo Hun Sen, Prime Minister of Cambodia appealed for understanding from the private sector to reduce rental prices during the period of threat from the COVID-19 pandemic. On April 7 2020, at a special Press Conference briefing on the COVID-19 in Cambodia at the Peace Palace, Samdech Techo Hun Sen once again requested the […]
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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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Land Division from Sub-Decree 80 land area and Botum Sakor National Park not yet complete
The request for the land division from sub-decree 80 covered land area and the Botum Sakor National Park for residents has not yet reached approval, mentioned by Mr. Chea Sovy, Governor of Koh Kong District, in an interview with Construction and Property Magazine on 3 April 2020. “The land division is to cut from the […]
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National Bank urges institutions not to foreclose on the property during COVID-19 crisis
The First Deputy Inspector General of the National Bank of Cambodia has requested all banks and microfinance institutions to avoid seizure of clients’ assets while the economic situation slows down due to the COVID-19 pandemic. According to a local press release, Mr Kith Sovannarith, First Deputy Inspector General of the National Bank of Cambodia, requested […]
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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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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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Cambodia to suspend hydropower dam plan on Mekong River for 10 years
Cambodia will suspend hydropower dam plans on the mainstream of the Mekong River for the next decade until 2030 and will look to coal, gas and renewable energy such as solar energy instead. The decision was made by the Ministry of Mines and Energy to great applause from civil society especially environmental groups and people […]
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Japan provides US$310m for social and economic development in Cambodia
Samdech Techo Hun Sen presided over an Exchange of Notes with Japan’s official development assistance worth US$310 million to Cambodia for economic and social development on the morning of 24 March 2020. The document was signed by H.E. Prak Sokhonn, Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation and H.E. Mikami Masahiro, […]
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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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