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ខ្មែរ Uncategorized
FDI Inflow for Construction & Real Estate Sectors in 2020 Decreases by 10.6%: NBC
- 4 June 2021
Total FDI inflows, mainly to the financial, construction, real estate, and manufacturing sectors, were recorded at US$3.5 billion in 2020, a 1% decline. Among them, FDI to the construction and real estate sectors, which accounts for 17% share of the total FDI, decreased by 10.6%, according to the National Bank of Cambodia (NBC) Financial Stability Review 2020 published on 31 May. China is still...
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NBC: Credit Growth in Construction & Property Decelerates, Easing Concerns on Overheating Market
- 3 June 2021
Loans to construction and real estate activities in 2020 expanded at a slower rate of only 23%, as the construction boom stalled due to the pandemic. This deceleration of credit growth has eased some concerns on the overheating property market, according to the National Bank of Cambodia (NBC)’s Financial Stability Review 2020 published on 31 May. By sector, credit growth in construction remaine...
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Construction Begins for Japanese-Funded US$27 million Choeung Ek Wastewater Treatment Plant
- 3 June 2021
The construction of the Japanese-funded US$27-million sewage system and a large-scale treatment plant in Choeung Ek officially began in late May and is scheduled for completion in November 2023. According to an announcement by the Phnom Penh Municipality yesterday, the implementation of the project is divided into 4 stages, including: 1. Filling up 3 hectares of land in Chak Angre Leu commun...
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Three Sections of NR5 Expansion 46%, 38%, and 97% Complete, Respectively
- 3 June 2021
To date, the renovation of NR5 is approximately 60% complete, with the southern part Prek Kdam- Pursat at 46.05%, the central part Pursat-Battambang at 38.08%, and the northern part Battambang-Banteay Meanchey at 97.30%. This is according to a meeting between the Ministry of Public Works and Transport and the Ministry of Economy and Finance on 1 June. Besides providing the updated progress, ...
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France Pledges €600 million in Financing to Cambodia for Next Six Years
- 2 June 2021
The French government has pledged to increase the amount of official financing for Cambodia to approximately €120 million per year for the six years from 2021 to 2026, focusing on infrastructure and other developments. The pledge was made during an online meeting between Minister Delegate to the Prime Minister and Permanent Secretary of the Ministry of Economy and Finance HE Vongsey Visoth and ...
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PM Hun Sen Requests US to Convert 70% of debt to Aid, the Rest to Slowly Repay at Low Interest Rate
- 2 June 2021
In a meeting with US Deputy Secretary of State Wendy R. Sherman yesterday, Cambodian Prime Minister Hun Sen requested the United States to reconsider debt repayment methods for Cambodia. The request includes allowing Cambodia to repay debt slowly and gradually with interest not exceeding 1%. Besides, PM Hun Sen also requested the United States to consider converting 70% of the debt repayment...
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Repair & Pavement Work on Hun Sen Blvd. Set for Completion in June
- 1 June 2021
Repair and pavement work on a section of Hun Sen Blvd. (60m road) from Street 271 to NR2 that was damaged by flooding is set for final completion in June. Speaking to Fresh News, Phnom Penh Governor HE Khuong Sreng said that despite COVID-19, Phnom Penh municipality has been actively repairing the flood-damaged roads since last year. He added this section of the Hun Sen Blvd from Street 271 ...
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Construction of PP-SHV Expressway 60% Complete
- 1 June 2021
Construction of the US$-2 billion expressway connecting Phnom Penh to Sihanoukville has been 60% completed as of late May, according to the Facebook of the Phnom Penh-Sihanoukville Expressway on 1 June. So far, the pavement work is already underway while the first flyover of the project has also started taking shape. The team has already finished installing girder blocks for this flyover, ma...
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UK Clothing and Footwear Retailer Targets Cambodia After Cancelling Orders from Myanmar
- 1 June 2021
British multinational clothing, footwear and home products retailer Next plc has said it would swiftly cancel purchase orders from Myanmar and split them to other countries including Cambodia, as it joined other EU’s retailers suspending orders from Myanmar due to the military coup. Reuters reported recently that the Next has not placed any orders from Myanmar. A senior officer at Next was quot...
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New US$79-million Hotel & Commercial Centre Set for Pou Senchey District
- 1 June 2021
The Council for the Development of Cambodia (CDC) has officially approved Continent Crown Investment Management Co., Ltd to invest US$79 million to build a 275-key 4-star hotel and commercial centre in Sangkat Kakab, Pou Senchey district in Phnom Penh. On the same day, CDC also approved Cambodian Gome Farm Food Co., Ltd to invest US$6.5 million in building a mango processing factory in Voa Sar ...
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