Property News Roundup 24th June 2024
We’re delighted to share the weekly news highlights below.
- Cambodia’s total public debt stands at $11.09 billion as of Q1
The Cambodian government had a total public debt stock of $11.09 billion as of the first quarter (Q1) of 2024, according to the Cambodia Public Debt Statistical Bulletin released by the Ministry of Economy and Finance.
June 15, 2024 | Khmer Times | Link: https://tinyurl.com/y3r4ywmh
- Navigating financial distress: The importance of insolvency administrators in Cambodia
Amid the current economic climate, it is anticipated that an increasing number of companies will face insolvency, making the role of administrators more crucial than ever.
June 15, 2024 | The Phnom Penh Post | Link: https://tinyurl.com/ms7thhrj
- Twin Flyovers Break Ground with US$16 Million Investment to Boost Phnom Penh and Kandal Connectivity
The twin flyovers, costing over US$16 million, begin groundbreaking to enhance connectivity along the 60-meter boulevard at the intersection of National Road 2 between Phnom Penh and Kandal province. PM Hun Manet presided over the opening ceremony on 17 June 2024.
June 17, 2024 | Construction Property | Link: https://tinyurl.com/549yhcvc
- Cambodia Secures US$140 Million in Concessional Loans for Q1 2024 Infrastructure Development
In the first quarter of 2024, the Cambodian government signed new concessional loans worth US$140 million with development partners, marking a year-on-year decrease of 71 percent. This significant reduction in new loans reflects the latest figures from Cambodia’s Public Debt Situation report issued on Friday, 17 May 2024.
June 18, 2024 | Construction Property | Link: https://tinyurl.com/dxkyk7hf
- $400 Million Flood Relief Canal System to Divert Water From Phnom Penh
Cambodia’s massive 260-kilometre drainage network, costing $400 million, is on course, with completion expected this August. This ambitious project aims to channel floodwater away from Phnom Penh and prevent flooding on more than 300,000 hectares of land.
June 18, 2024 | KiriPost | Link: https://tinyurl.com/3rwh6f53
- Two major projects plus the government’s sharp vision will expand the potential of the southern part of Phnom Penh
The Government of Cambodia recently unveiled a large-scale plan and vision for infrastructure development in the southern part of Phnom Penh, linked to Kandal province, as population growth in the area increases every day.
June 19, 2024 | Construction Property | Link: https://tinyurl.com/bdf59we3
- The project to build NR No. 71C connecting Tbong Khmum-Kampong Cham province is nearly 100% completed
The construction progress of National Road No. 71C from Tbong Khmum district, Tbong Khmum province to Chamkar Leu district, Kampong Cham province is at 97.62%, according to HE Phorn Rim, Spokesman of the Ministry of Public Works and Transport on June 19, 2024.
June 19, 2024 | Construction Property | Link: https://tinyurl.com/mwddmuxx
- FDI inflows hit $48.4 billion in Cambodia in six years
Foreign direct investment (FDI) in Cambodia reached 197.8 trillion riels, ($48.4 billion) between 2018-2023, said the National Bank of Cambodia (NBC) on Tuesday.
June 20, 2024 | Khmer Times | Link: https://tinyurl.com/5e5r83fs
- Minebea to build second facory in Pursat
Minebea Cambodia, a subsidiary of MinebeaMitsumi, will expand its production chain in Cambodia by building its second factory in Pursat Province, which is known to have good energy source, particularly green energy.
June 21, 2024 | Khmer Times | Link: https://tinyurl.com/mxw3kerx
- Chinese, local firm keen on setting up textile factory in Cambodia
Shanghai Shunkai International Freight & Forwarding Co Ltd – a Chinese firm headquartered in Shanghai – and CID Logistic Co Ltd, a Cambodian transportation company based in Phnom Penh are keen on building a textile and dyeing factory in Cambodia.
June 21, 2024 | Khmer Times | Link: https://tinyurl.com/3k8fdvzb