MEF Minister Urges ASEAN Valuers Association to Enhance Regional Real Estate Standards & Guidelines

• 25 November 2021
• Local News
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Deputy Prime Minister and Minister of Economy and Finance HE Aun Pornmoniroth has urged the ASEAN Valuers Association Congress (AVA) to consider implementing four major guidelines to promote sustainable development of the real estate sector.

The request was made in his opening speech at the 23rd ASEAN Valuers Association Congress on Thursday 25 November.

HE Minister Aun Pornmoniroth stated that the first task that the AVA should consider is to adopt a regional standard for real estate valuers. Meanwhile, those countries that have not adopted a standard for real estate valuers, such as Cambodia, should consider adopting one quickly.

“The congress should also continue to strengthen and improve professionalism and competency of real estate valuers in order to improve competence. Moreover, the AVA shall strengthen cooperation between the private sector and private sector, private sector and regulator, as well as regulator and regulator through the exchange of technical expertise, technology, and investment,” he added.

HE Minister Aun Pornmoniroth also stated that the real estate sector in Cambodia is forecasted to recover quickly in line with the domestic growth of 2.4% in 2021 and 4.8%, thanks to the gradual increase in FDI and the rise of demand in affordable housing. (Read more)

• Analysis
• Economy and Finance