Property News Roundup 14th October 2024
We’re delighted to share the weekly news highlights below.
- Cambodia Boosts Agro-Industry with USD 342m Investment in 19 Large-Scale Rice & Grain Mills
Cambodia has significantly expanded its agro-industrial sector with the establishment of 19 large-scale rice and grain mills, backed by an investment of over USD 342 million, as announced by HE Hem Vanndy, Minister of Industry, Science, Technology, and Innovation.
October 11, 2024 | Construction Property | Link: https://tinyurl.com/yc5yvkwy
- IMF forecasts 5.5 percent economic growth for Cambodia in 2024
The International Monetary Fund (IMF) said on Monday that the Cambodian economy is projected to grow by 5.5 per cent in 2024, up from 5 percent in 2023, driven by a strong rebound in garment and agricultural exports and the ongoing recovery in tourism.
September 30, 2024 | The Star | Link: https://tinyurl.com/296t3nyr
- Cambodia Microfinance Loans Based on Rising Land Prices Point to Further NPL Increase
According to forthcoming research, the rate of non-performing loans at the country’s microfinance lenders is higher than publicly disclosed, over-optimistic assumptions about the transformative impact of microfinance loans on the incomes of borrowers have been a consistent feature of the industry for years.
October 04, 2024 | The Diplomat | Link: https://tinyurl.com/em6byjbt
- Ministry of Land Launches Coastal Urban Design Competition to Attract Investment and Boost Tourism
The Ministry of Land Management, Urban Planning and Construction (MLMUPC) has launched an ambitious design competition project aimed at revitalizing Cambodia’s coastal regions to drive economic development, boost tourism, and attract foreign investment.
October 06, 2024 | Construction Property | Link: https://tinyurl.com/hczcf84v
- Cambodia’s Construction Material Imports Surge to USD 1 Billion, a 21% increase 8 Months of 2024
Cambodia’s import of construction materials hit USD 1.063 billion in the first eight months of 2024, marking a 21.58% increase compared to the same period last year. Despite this significant rise, the country’s construction sector is expected to experience a slower recovery, as highlighted by a recent report from both the General Department of Customs and Excise.
October 08, 2024 | Construction Property | Link: https://tinyurl.com/5t52yzrr
- Cambodia’s Trade Volume with RCEP Surges to Nearly $23 Billion in 8-Month Period, Up 17%
Cambodia’s trade relations with the Regional Comprehensive Economic Partnership (RCEP) witnessed substantial growth in the first eight months of 2024, reaching an impressive USD 22.92 billion, a 17.2% increase compared to the USD 19.55 billion recorded during the same period last year.
October 09, 2024 | Construction Property | Link: https://tinyurl.com/ycxmphty
- Pinglu Canal Set to Revolutionize China-ASEAN Trade Routes, Achieved 53% Milestone
The Pinglu Canal, a pivotal infrastructure project in southern China’s Guangxi Zhuang Autonomous Region, has already seen 53.2% of its construction completed since work began on 28 August 2022.
October 09, 2024 | Construction Property | Link: https://tinyurl.com/mtnehu35
- MPWT announces completion of project to improve Trapeang Sre International Border Gate to reach the next step
The Ministry of Public Works and Transport (MPWT) has announced the completion of the Trapeang Sre International Border Gate Improvement Project. This project was carried out under the Official Development Assistance Framework of the Republic of Korea.
October 10, 2024 | Construction Property | Link: https://tinyurl.com/yf9wyzhy
- Cambodia, Thailand hold talks to set up SEZs
Cambodia and Thailand Wednesday held talks on establishing special economic zones, enhancing people-to-people connections, promoting tourism, besides strengthening bilateral cooperation between the two countries.
October 11, 2024 | Khmer Times | Link: https://tinyurl.com/y758tuzy
- Thailand hopes to renew offshore oil and gas negotiation with Cambodia
The newly elected Thai government, which took office in September under Prime Minister Paetongtarn Shinawatra, has vowed to engage in negotiations with Cambodia to explore the documented offshore oil and gas fields in the waters between the two nations.
October 11, 2024 | Khmer Times | Link: https://tinyurl.com/yuwp76n2