Economy and Finance
China-backed Dara Sakor Airport to Test First Flight Before March 2021
The controversial China-backed Dara Sakor Aiport in Koh Kong will run its first test flights before March 31, 2021, as construction is approaching completion, according to Minister of the Secretariat of Civil Aviation HE Mao Havanna during an official inspection from 10-12 October. During the inspection, the technical team reviewed the report from the Union […]
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ADB Revises 2020 Cambodia Growth Forecast Upward, Construction Sector Still at Risk
The Asian Development Bank (ADB) recently re-forecast Cambodia’s economic growth to rebound to 5.9% by 2021, yet the construction and garment sectors remain at risk. The Asian Development Outlook (ADO) 2020 Update also projected that due to the COVID-19 pandemic, Cambodian GDP would drop by 4% in 2020, which is better compared to the previous […]
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US-China Fight over Union Development Group Could Harm Cambodia’s FDI and Real Estate Market
Economists, analysts, and real estate experts are concerned that the geopolitical fight between US and China over the Union Development Group (UDG) in Cambodia could hurt Cambodia’s Foreign Direct Investment (FDI) and real estate market, especially in Koh Kong province. On 15 September, the US Treasury Department issued a statement imposing sanctions on the UDG […]
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AIIB & ADB to loan Philippines with US$750m loan to manage COVID-19 impacta
The Philippines has been offered a US$750 million loan from the Asian Infrastructure Investment Bank (AIIB) and the Asian Development Bank (ADB) to assist the nation to kickstart its economy following a slump caused by the COVID-19 pandemic. The loan is intended to help the Philippines increase its testing program and provide support to affected […]
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New Shopping Mall Construction Overshoots Local Demand
The number of shopping malls has been increasing rapidly while the local demand and average purchasing power have yet to catch up, indicating that the retail market in Cambodia is oversupplied, according to a Nikkei Asian Review report on 24 July. Real Estate Consultancy Knight Frank predicted that by the end of 2022, the total […]
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New Phnom Penh International Airport Expresses Cambodia’s Ambition to Promote Economic Growth Amid COVID-19
Cambodian Prime Minister Hun Sen’s inspection visit to the construction site of the new Phnom Penh International Airport on 22 June 2020 was more than a symbolic inspection and represented a strong endorsement of the airport project and the health of the nation’s construction sector. The prime minister also approached the visit from the perspective […]
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Cambodia and other 5 Countries Agree to Donate US$180.2 million to Fund BRI Projects
Cambodia and other 5 countries including China, Egypt, Saudi Arabia, Hungary, and the Philippines have agreed to donate US$180.2 million as a multilateral fund to support Belt and Road Initiative (BRI) infrastructure projects, according to China Daily on 08 July 2020. The fund was set up by the Multilateral Cooperation Center for Development Finance and […]
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Cambodia’s loan demand rose by 20.7% in H1, 28.8% of which from construction and property sector
Bank loan demand in Cambodia rose by 20.7% to US$26.7 billion during the first half of 2020, of which the construction and real estate sector accounted for 28, 8%, according to the biannual report of the National Bank of Cambodia. The report continues that the loans have been given to key sectors and among which […]
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CBRE: Land prices remain stable in Q2 2020, despite fewer transactions
Land prices across all districts in Phnom Penh in Q2 of 2020 remain robust despite fewer transactions in the market partly due to the COVID-19 pandemic, according to the CBRE Cambodia report published on 07 July. Speaking at the webinar presenting the report, Senior Director of CBRE Cambodia James Hodge said that the fact that […]
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Cambodia’s construction investment reached US$4 billion in H1 2020, a 13% increase
Despite the global crisis of Covid-19, Cambodia’s construction investment value in the first half of 2020 has reached nearly US$4 billion, indicating a 13% increase compared to the same period in 2019, according to the data of the Ministry of Land Management, Urban Planning and Construction dated 02 July 2020. According to the same source, […]
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