Property Focus
MEF Unveils Tax Relief Measures to Revitalize Tourism for Hospitality Business in 5 Provinces
To rejuvenate the tourism sector, the Ministry of Economy and Finance (MEF) has introduced tax incentives for tourism enterprises operating in five key provinces. According to the recent Prakas No. 119 MEF.PrK.PD issued on 8th February 2024, eligible businesses, including hotels, guesthouses, restaurants, and travel agencies, are set to benefit from these measures. This intervention […]
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Embrace the New Year with Borey Peng Huoth – Homes that Radiate Happiness!
As we step into a new year, the evolving landscape of home design in Cambodia reflects modern aesthetics, offering dwellers a blend of contemporary elegance and functionality. Borey Peng Huoth, a leading real estate developer, stands as a beacon for those in search of homes that embody the essence of joy and fulfillment, be it […]
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Japan Infuses AI Tech Flare into Cambodia’s Mine Action: A US$515k AI Endeavor
A ceremony emblematic of technological aid and international cooperation was held at the Embassy of Japan in Cambodia on 15 February 2024, signifying an infusion of US$515,060 from the Royal Government of Japan into the Cambodian Mine Action Centre (CMAC). The grant, aimed at harnessing advanced information technology in the form of Artificial Intelligence (AI), […]
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Banyan Group Unveils Ambitious US$2bn Luxury Residential Project in Phuket Amid Real Estate Resurgence
In a strategic move to capitalize on the resurging demand in the post-COVID-19 real estate landscape, Singapore-based Banyan Group has declared plans to construct the largest luxury residential venture on the pristine shores of Phuket, Thailand. As reported by Asia Nikkei on 1 February 2024, the US$2 billion Laguna Lakelands project is poised to set […]
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Canada Elevates Bilateral Ties with Cambodia Through Inauguration of Consulate in Siem Reap
Canada has taken a significant stride in enhancing collaboration with Cambodia with the official opening of a new consulate in Siem Reap, as announced by the Siem Reap Provincial Administration on 13 February 2024. In a ceremony presided over by Mr. Pin Prak, Deputy Governor, and attended by Ms. Ping Kithikone, Ambassador of Canada to […]
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GGEAR Group Revolutionises Electronics Distribution with Cutting-Edge “GGEAR Dealer Portal” App
In a pioneering move, GGEAR Group has unveiled the innovative “GGEAR Dealer Portal,” marking a significant leap forward in Cambodia’s mobile electronics sector. The GGEAR Dealer Portal is a trailblazing program designed to empower business partners with a seamless experience in downloading electronic products for distribution. This state-of-the-art technology ensures swift and error-free operational data, […]
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Vietnam’s Central Bank Affirms No Interest Rate Hike in 2024
In a pivotal announcement, the State Bank of Vietnam (SBV) declared its stance on interest rates for the year 2024, affirming a commitment to maintain current policy rates. SBV Deputy Governor Dao Minh Tu addressed the Vietnam Plus during a press conference on 3 January, outlining the central bank’s strategic approach to economic support. Deputy […]
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Gov’t Launches Special Task Force for Tonle Sap Land Registration to Safeguard Natural Heritage
In a decisive move to protect the invaluable natural resources of the Tonle Sap region, the Cambodian government has issued Decision No. 37, dated 6 February 2024, to establish a dedicated commission for land registration. Recognizing the critical importance of preserving these resources for national identity and the prosperity of future generations, the government aims […]
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Asia House Forecasts: Vietnam to Outshine its Asian regional Counterparts Throughout 2024
In the realm of thriving Asian economies, Vietnam emerges as a standout performer, poised to outshine its regional counterparts throughout 2024, according to the Asia House Annual Outlook released on 23 January in London. The report anticipates approximately 5% overall growth across eight key Asian economies, with Vietnam and the Philippines leading the charge. Focused […]
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Hong Lai Huat To Sell Two Subsidiaries in Cambodia at US$37.5 Million & Exit from Agricultural Ventures
Singaporean property developer Hong Lai Huat has announced plans to divest two underperforming subsidiaries in Cambodia, marking its departure from the agricultural sector. The proposed disposal, with a total consideration of US$37.5 million, underscores the company’s strategic shift away from an agricultural business that has faced profitability challenges since its establishment in 2008, according to […]
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