Property News Roundup 24th April 2024
We’re delighted to share the weekly news highlights below.
- World Bank Forecast 4.6% Growth for Developing Asia in 2024, Despite China Declines from 5.2% to 4.4%
The World Bank has projected a growth rate of 4.6% for developing Asia-Pacific countries, excluding China, in 2024, as outlined in their recent economic report released and updated by Asia.nikkei on April 1, 2024. Despite China’s economy moderating to 4.5% from last year’s 5.2%, trade recovery is expected to drive growth in the region, surpassing the 4.4% achieved in 2023.
April 14, 2024 | Construction Property | Link: https://tinyurl.com/hxek89b4
- Cambodia’s trade with ASEAN up 19% in Q1
Cambodia’s trade with other ASEAN countries rose by 18.64 percent to $4.32 billion in the first quarter of this year, a report from the Ministry of Commerce showed.
April 17, 2024 | Khmer Times | Link: https://tinyurl.com/23czwvc2
- The Ministry of Economy and Finance has worked on several investment projects to be implemented in the coastal province in Preah Sihanoukville
Hean Sahip, Secretary of State of the Ministry of Economy and Finance and Chairman of the Investment Promotion Working Group in Sihanoukville, chaired a working group meeting to discuss the proposed projects.
April 13, 2024 | Khmer Times | Link: https://tinyurl.com/ypsu3skf
- Construction Sector Thrives: Ministry Approves 3,207 Projects Worth US$5.4 Billion in 2023
In 2023, Cambodia’s construction landscape witnessed a remarkable surge, with the Ministry of Economy and Finance (MEF) greenlighting a total of 3,207 construction projects, collectively valued at US$5.4 billion. This data, unveiled in a report by the Ministry, highlights a significant stride in the nation’s development trajectory.
April 17, 2024 | Construction Property | Link: https://tinyurl.com/3pdxyhnz
- International Business Chamber of Cambodia Highlights 8 Corporate Leaders – Leading the Charge with Their Own ESG Commitments
The International Business Chamber of Commerce has highlighted eight leading member firms for their dedication to Environmental, Social, and Governance (ESG) principles, marking a shift towards sustainability in business.
April 17, 2024 | Cambodia Investment Review | Link: https://tinyurl.com/5n828bfz
- PM to address UN-ESCAP meet in Bangkok amid trade cost worries
Prime Minister Hun Manet will deliver a special address at the opening of the 80th session of the United Nations Economic and Social Commission for Asia and the Pacific (UN-ESCAP) in Bangkok next Monday, according to an official release yesterday.
April 18, 2024 | Khmer Times | Link: https://tinyurl.com/mr3uthum
- Phnom Penh Real Estate Market Shows Signs of Stabilization in Q1 2024, After Large Market Correction in 2023: CBRE Cambodia
Phnom Penh’s real estate market is beginning to demonstrate resilience and cautious optimism according to the Q1 2024 report from CBRE Cambodia. Various sectors, including office, retail, residential, and hospitality, are navigating through different challenges and trends, suggesting a nuanced approach to growth and development.
April 18, 2024 | Cambodia Investment Review | Link: https://tinyurl.com/wpf3vht9
- China’s top diplomat Wang Yi to push belt and road during visits to Indonesia, Cambodia and Papua New Guinea
China’s top diplomat Wang Yi will visit Indonesia, Cambodia and Papua New Guinea from Thursday, the Chinese foreign ministry announced on Tuesday. During his six-day trip, Wang will join a high-level dialogue cooperation mechanism with Indonesia and attend a meeting of the China-Cambodia Intergovernmental Coordination Committee, ministry spokesman Lin Jian said.
April 16, 2024 | South China Morning Post | Link: https://tinyurl.com/2w3a3xw9
- Cambodia’s garment, footwear, travel goods export up 20% in Q1
PHNOM PENH: Cambodia exported US$2,941 million worth of garment, footwear and travel products (GFTs) to international markets in the first quarter of 2024, up 20 per cent from $2,449 million over the same period last year, said a report released by the Ministry of Commerce on Friday (April 12).
April 12, 2024 | The Star | Link: https://tinyurl.com/23545tmd
- Construction Material Imports Surge nearly US$350 million in Q1 2024, Reflecting Cambodia’s Booming Construction Sector
In the first quarter of 2024, Cambodia witnessed a remarkable surge in its construction sector, as imports of construction materials soared to an impressive US$349 million, marking a significant increase of 22.24 percent compared to the same period last year.
April 18, 2024 | Construction Property | Link: https://tinyurl.com/4htmhbu5