Property News Roundup November 10th, 2022
We’re delighted to share the weekly news highlights below.
- MLMUPC announces the launch of permanent satellite stations in 5 provinces
The Ministry of Land Management, Urban Planning and Construction has announced the launch of a permanent satellite station measuring station (CORS) in Phnom Penh, Kandal, Kampong Speu and Stung Treang provinces.
October 28, 2022 | Construction Property | Link: https://bit.ly/3gUahin
- 2023 state plans to spend nearly $2 billion on public investment projects
In 2023, the state plans to spend 7,730,971 million riels, equivalent to more than 1,865 million US dollars, to develop public investment projects, which is 5.89% of GDP, an increase of 25.2% compared to the 2022 budget.
October 29, 2022 | Construction Property | Link: https://bit.ly/3DIKK4K
- Cambodia stays on growth path, set to expand 6.6%
The Kingdom of Cambodia continues on its high growth path in the post-Covid pandemic scenario and is set to report robust growth this year as well as the next few years, according to the International Monetary Fund (IMF).
October 31, 2022 | Khmer Times | Link: https://bit.ly/3sOYVyI
- Cambodia-China sign MOU to export Edible-Nest Swiftlet to China
The Cambodian Ministry of Commerce and the Cambodia Business Center in Xiamen, China, are working together to promote the export of Cambodian Edible-Nest Swiftlet to China in the near future. At the same time, both sides are pushing for the establishment of an Edible-Nest Swiftlet processing plant in Cambodia as well.
October 31, 2022 | Construction Property | Link: https://bit.ly/3WddV7j
- Cambodia’s first wildlife and aquarium park open in November
Angkor Wildlife and Aquarium, a park with “rare”, other animals and various species in Cambodia opened officially on November 1, 2022. The aquarium is located along National Road 6A, Kbon Village, Khchas Commune, Sot Nikum District, Siem Reap Province.
October 31, 2022 | Construction Property | Link: https://bit.ly/3h2lWfj
- Sihanoukville tears down structures in popular seafront
Stalls and structures erected by vendors trading on O’Chhoeuteal beach in Sihanoukville have been torn down by the authorities to clean up the seaside and give it a soothing ambiance.
November 01, 2022 | Khmer Times | Link: https://bit.ly/3gYKmGq
- Kingdom’s First Expressway Opened for Traffic, Second Set to Begin Construction in 2023
The 187km Phnom Penh-Sihanoukville expressway, the first of its kind in Cambodia, opened for traffic on 01 October with a 1-month toll-free trail, marking a major achievement in infrastructure development. Besides this project, the Cambodian government will soon build a second expressway connecting Phnom Penh to the Vietnamese border Bavet City.
November 01, 2022 | Construction Property | Link: https://bit.ly/3UjLZwS
- JICA launches three key activities to Develop Siem Reap to become a smart city
The Japan International Cooperation Agency (JICA) will work to achieve the expected results of implementing three activities from 2022 to 2025 to make Siem Reap a smart city. It should be noted that in the first phase (2020-2021), JICA helped to find the challenges that are happening in Siem Reap until the roadmap for preparing Siem Reap as a smart city (2021-2023).
November 01, 2022 | Construction Property | Link: https://bit.ly/3SQ8yYM
- Does Cambodia Still Lean Towards China, or Has it Already Shifted and Why? Effect on Economy and Real Estate
Recently, the Cambodian government has taken a proactive stance and issued a series of measures to crack down on gambling and related crime across the country, especially in Sihanoukville, which has been labeled by the foreign press as a hotbed of online crime.
November 02, 2022 | Construction Property | Link: https://bit.ly/3TYxSNE
- Developers urged to focus on green buildings
According to Tous Saphoeun, deputy secretary general of the Board of Architects Cambodia (BAC), green buildings refer to construction with technically sound architectural layouts with adequate provisions of natural lights and airflow that stays in harmony with nature. An unbalanced, high-density population too contributes to rising pollution.
November 02, 2022 | Khmer Times | Link: https://bit.ly/3DSqQV5
- Cambodia set for more bilateral FTAs
The Cambodian government is pushing for the establishment of more bilateral free trade agreements with main trade partners in a bid to access wider markets for the country’s products. Penn Sovicheat, under-secretary of state at the Ministry of Commerce, said that the more bilateral FTAs, the wider markets Cambodia can export products to.
November 03, 2022 | Khmer Times | Link: https://bit.ly/3NwDvjt
- Singapore replaces China as Cambodia’s top FDI source
Singapore has replaced China as the leading investing country in Cambodia in 2021, accounting for six projects, or 40 percent of Cambodia’s inward FDI, revealed the Investment Monitor’s ‘2022 Inward FDI Performance Index’, released recently.
November 02, 2022 | Khmer Times | Link: https://bit.ly/3frh0Ab
- Japan supports construction of agricultural warehouses
The Government of Japan has approved a new support project for the construction of agricultural warehouses in Cambodia. According to the Japanese Embassy in Cambodia, the Government of Japan has approved the new project funding, which is equivalent to some $41,568, from the Counterpart Fund for the implementation of the “Food Security Project for the Underprivileged Farmers”.
November 02, 2022 | Khmer Times | Link: https://bit.ly/3DxzsPp
- Cambodia plans to build three more deep-sea ports with direct access to US and Europe
Cambodia is planning to build another deep-sea port, the “deep-sea port”, with a depth of 14.50 meters, which will allow about 93% of ships in the Asia-Pacific region to dock at the port of Sihanoukville. In 2026.
November 04, 2022 | Construction & Property| Link: https://bit.ly/3UmrWh9
- ADB, EDC Sign 2 GW Solar and Battery Storage Power Program in Cambodia
The Asian Development Bank (ADB) signed a transaction advisory services mandate with Cambodia’s national utility company Électricité du Cambodge (EDC) to support the development of 2 gigawatts (GW) of solar power in Cambodia.
November 03, 2022 | Construction & Property| Link: https://bit.ly/3NwU27b