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ខ្មែរ Local News
Ensuring Fairness and Protection: MOC Introduces Measures to Prevent Real Estate Contract Exploitation
- 7 July 2023
In a bid to safeguard consumer rights and prevent profiteering in the real estate sector, the Ministry of Commerce (MOC) has announced the implementation of the Consumer Protection Law and the Declaration on Unfair Contracts. This significant development was highlighted in a press release issued on 30 June 2023. The MOC acknowledged the rapid growth and fierce competition within Cambodia's real...
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NBC Urges Prudence in Real Estate Loans Amid Projected Market Slowdown
- 6 July 2023
The NBC has issued a cautionary statement to banks and microfinance institutions, emphasizing the importance of exercising prudence in granting real estate loans. This advisory comes in light of the projected slowdown in the demand for real estate within the domestic market for the current year. During a seminar held at the Center for Banking Study on June 6, 2023, HE Dr. Chea Serey, Deputy Gov...
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Cambodia’s Angkor Wat Ticket Sales Surge in H1 2023, Generating Nearly US$18 Million
- 6 July 2023
In the first half of 2023, Cambodia witnessed a remarkable surge in revenue from ticket sales to the iconic Angkor resort. According to a report released by the Angkor Institute on July 1, 2023, the country earned an impressive US$17,877,418 from selling tickets to 385,769 foreign tourists during this period. This revenue marks a staggering 638.71% increase compared to the same period in 2022, hig...
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MB Bank and Borey Peng Huoth Join Forces to Offer Special Home Purchase Loans
- 5 July 2023
In a significant collaboration, MB Bank Cambodia and Borey Peng Huoth recently held a Partnership Signing Ceremony at the prestigious Grand Star Platinum Sales Office, located just 5 minutes away from Monivong Bridge in Chbar Ampov. This event, which took place on the morning of June 30, 2023, saw the attendance of senior management representatives from both institutions, along with colleagues. ...
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GOV’s Endeavors: Over 5,000 Houses Gifted to Veteran Families by 2023
- 5 July 2023
In a remarkable display of gratitude and support, the Cambodian government has presented a total of 5,154 houses to veterans and their families by 2023. This significant achievement was highlighted by HE Mang Sineth, Deputy Governor of Preah Sihanouk Province, on the auspicious occasion of the 16th anniversary of the 21st Cambodian Veterans Day in June 2023. The provision of these houses serves...
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Cambodia’s Tourism Soars: H1-2023 Records 75% Surge with Over 11 Million Visitors
- 4 July 2023
In an exceptional tourism surge, Cambodia witnessed a remarkable increase in visitor numbers during the first half of 2023. The Ministry of Tourism's report, published on July 3, 2023, revealed a staggering 75% rise as Cambodia welcomed a total of 11.1 million domestic tourists, compared to the same period in 2022. The country's popularity as a tourist destination continued to soar, evident fro...
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Gov’t Allocates 6,000 ha of Social Land Concessions in Mondulkiri Province, Bringing New Hope to Local Communities
- 4 July 2023
The Ministry of Land Management, Urban Planning and Construction, in collaboration with the Mondulkiri Provincial Authority, has designated 6,000 hectares of land as a dedicated area for land identification, classification, and registration in Rayor and Soksan communes of Koh Nhek district, Mondulkiri Province. This landmark zoning announcement, made on 28 June 2023, marks a crucial milestone i...
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Two Areas of Thailand attract 229k Cambodian tourists just within five months of 2023
- 3 July 2023
In the first five months of the year, Thailand welcomed an impressive 229,000 tourists from Cambodia, while an even higher number of 330,000 tourists ventured from Laos, seeking both recreational activities and medical check-ups. These figures underscore the increasing appeal of Thailand's diverse offerings, including its renowned healthcare sector, which has gained international recognition for i...
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Gov’t Strengthens Real Estate Regulations to Boost Investor Confidence
- 30 June 2023
In a significant move to enhance transparency, efficiency, and investor trust in the real estate sector, the Government of Cambodia has recently issued a comprehensive sub-decree aimed at managing and controlling the real estate development business. Sub-Decree No. 50, dated 2 March 2023, outlines measures to ensure fairness, attract investment, and foster a thriving real estate market. The sub...
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Booyoung Group’s Milestone Agreement: 1,000 Modern Buses to Enhance Cambodia’s Transportation Network
- 30 June 2023
Booyoung Khmer II Co., Ltd., a prominent subsidiary of BOOYOUNG GROUP from the Republic of Korea, has inked a significant agreement with the Cambodian government to provide a total of 1,000 buses in three phases. The official press release by the Ministry of Economy and Finance on June 29, 2023, sheds light on this remarkable collaboration. Under this agreement, Booyoung Khmer II Co., Ltd. will...
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