Samdech Techo continues calling for private sector rental price reduction

• Sovandy Van
• 8 April 2020
• Local News
• 2602 Views

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 private sector to soften some rental payment conditions.

“Finally, I would like once again to request the private sector, as I had already mentioned on the 30th at the National Assembly, especially those provide renting services to commercial shops. This time those sellers could make less profits; therefore, we should not charge the rental fee with the full price. If they cannot earn income, why do you need to ask them for payment? Hence, I would like to please request the private sector and the private sector to favour one another. ”

Regarding installment payments in the real estate sector, Samdach Hun Sen continued to emphasise that “Depreciating in real estates should be also the same.

Creditors should not seize any debtor’s property during this crisis….This shall also apply to all measures taken by banks to ensure that they favour one another; for instance, they should take measures such as delaying payment or repayment of interest and penalty exemption”.

However, to avoid using the COVID-19 crisis as an excuse for not fulfilling duty, the prime minister stressed that, “Sometimes, we have to be careful. Some of them are not affected by COVID-19, so they have to assume their duty regardless of the COVID-19 excuse.”

Notably, on 30 March 2020, Samdech reiterated that these measures are not regulations, but rather a request for mutual understanding between concerned parties during the crisis. (Read More)

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