Property News Roundup 28th May 2024
We’re delighted to share the weekly news highlights below.
- Kampot Unveils Plans to Enchant Tourists with Floating Market and Beach Developments
In a bid to solidify Kampot’s position as a premier tourist destination, provincial authorities have unveiled a series of captivating projects, including a floating market and pristine beach developments, according to the Ministry of Information.
May 18, 2024 | Construction Property | Link: https://shorturl.at/pVtg4
- AMRO 2024 Report: Cambodia Forecasts Strong Growth Amidst Financial and Real Estate Sector Vulnerabilities
Cambodia’s economy demonstrated moderate growth in 2023, supported by a robust recovery in tourism and increased domestic consumption, according to the ASEAN+3 Regional Economic Outlook 2024 by the AMRO ASEAN+3 Macroeconomic Research Office (AMRO).
May 20, 2024 | Cambodia Investment Review | Link: https://shorturl.at/qJCy3
- Tha National Bank of Cambodia reviews measures of housing prices
The Asian Development Bank forecast last month that Cambodia would have one of the lowest inflation rates in Southeast Asia this year if global fuel prices remain stable.
May 18, 2024 | Khmer Times | Link: https://shorturl.at/0H9Lp
- PM says Cambodia attracts 147 investment projects as of May
Prime Minister Hun Manet repeatedly tightened his foreign investor engagement programme to develop the Kingdom further.
May 19, 2024 | Khmer Times | Link: https://shorturl.at/6maKW
- Cambodia, Korea foster ties with SEZ plan
Cambodia and South Korea are poised to strengthen their economic partnership with a plan to establish special economic zones dedicated to Korean companies in Cambodia as the two countries agreed to leverage the Regional Comprehensive Economic Partnership (RCEP) agreement and other free trade agreements for the benefit of all.
May 20, 2024 | Khmer Times | Link: https://shorturl.at/XSxFZ
- Cambodia Prepares Strategic Budget Plan 2025 to Weather Global Economic Headwinds
The Cambodian government is taking proactive measures to safeguard its economic stability in the face of a challenging global economic climate. On 13 May 2024, Circular No. 06. US was issued, outlining the development of a strategic budget plan for 2025-2027, alongside a draft law on financial management specifically for 2025. This initiative underscores the government’s commitment to enhancing expenditure and revenue efficiency.
May 20, 2024 | Construction Property | Link: https://tinyurl.com/4cyrfaxj
- Domestic matter: Gov’t will not turn Funan Techo Canal project into regional or international issue
The government reassured that it will not turn the country’s Funan Techo Canal megaproject into a regional or international issue as it is solely initiated by Cambodia.
May 20, 2024 | Khmer Times | Link: https://tinyurl.com/2yarftn6
- Kampot International Port prepares for Phase I launch
The Kampot International Port will launch its first phase of operations in June, according to a recent announcement by representatives of the Kampot Port Company, the project’s owner.
May 24, 2024 | Khmer Times | Link: https://tinyurl.com/2eys5km7
- Stable Exchange Rates and FDI Inflows Offset Cambodia’s Export Weaknesses: NBC Fiscal Stability Report 2023
In 2023, Cambodia’s macroeconomic landscape has demonstrated resilience in the face of significant global economic uncertainty. Despite external pressures, the country’s balance of payments (BoP) recorded a slight deficit, with exports weakening.
May 24, 2024 | Cambodia Investment Review | Link: https://tinyurl.com/yy2rdpw3
- China to support Kingdom’s industrial modernisation
China will support the modernization of the Kingdom’s economic corridors and expand its ties with the country including in trade, tourism, education and vocational training.
May 24, 2024 | Khmer Times | Link: https://tinyurl.com/48bcecvv