Property News Roundup 21st October 2024
We’re delighted to share the weekly news highlights below.
- Cambodia Approves 28 New Projects in September, Attracting USD443 Million Investment
Cambodia greenlighted 28 new investment projects in September 2024, worth approximately USD443 million, creating around 25,000 jobs across various industries. This impressive investment surge includes 26 new projects and two production expansions, positioning Cambodia as an attractive hub for both local and international investors.
October 11, 2024 | Construction Property | Link: https://tinyurl.com/22wcxett
- Svay Pak Pumping Station Nears Completion, 96% Finished, Set to Alleviate Northern Phnom Penh Flooding
The new Svay Pak pumping station, crucial for addressing the flooding in northern Phnom Penh, is now 96% complete, according to the Phnom Penh Department of Public Works and Transport’s update on 9 October 2024.
October 12, 2024 | Construction Property | Link: https://tinyurl.com/jwmcryw5
- MOEF decided to continue exempting the stamp duty on houses worth less than or equal to USD 70K until the end of 2025
The Ministry of Economy and Finance has decided to continue exempting stamp duty on the transfer of ownership or possession of all types of housing in the form of Boreys with a value of less than or equal to 70,000 US dollars until the end of 2025.
October 13, 2024 | Construction Property | Link: https://tinyurl.com/5bhknzkx
- China Eyes Tonle Sap Mining Opportunities and Cement Production in Kampot
A delegation from Hubei Province, China, led by Mr Hu Jingli, Deputy Chairman of the Geographical Office, has expressed strong interest in studying natural mineral resources in Tonle Sap Lake, Siem Reap, while advancing plans to invest in a cement plant in Kampot.
October 14, 2024 | Construction Property | Link: https://tinyurl.com/ybf8e3sy
- The Cambodian gove’t asks private sector to rehabilitate rivers in the upper Mekong provinces to facilitate navigation
Samdech Moha Borvor Thipadei Hun Manet, Prime Minister of Cambodia, has announced that the government is looking for a partner or the private sector to rehabilitate rivers in the upper stream of the Mekong River in Cambodia, most of which are shadowed due to sediments blocking shipping navigation.
October 14, 2024 | Construction Property | Link: https://tinyurl.com/bdhdebcy
- The MLMUPC plans to establish a housing data management system to analyze the supply of housing to citizens
The Ministry of Land Management, Urban Planning, and Construction of Cambodia is planning to establish a housing data management system. This system will be used to analyze and plan the supply of housing for low- and middle-income citizens. His Excellency Seng Thany, Undersecretary of State of the Ministry, made this announcement on October 10, 2024, during a workshop on “Progress of Housing Performance” attended by officials from the Department of Land Management, Urban Planning, Construction, and Cadastre from 12 provinces.
October 15, 2024 | Construction Property | Link: https://tinyurl.com/bdfzamur
- The government wants to see an MoU on the railway expansion project before the end of this year
Samdech Moha Borvor Thipadei Hun Manet, Prime Minister of Cambodia, has asked the Ministry of Public Works and Transport and the Royal Railway of Cambodia to negotiate to reach a memorandum of understanding on the railway expansion project by the end of this year.
October 16, 2024 | Construction Property | Link: https://tinyurl.com/4wam48ys
- Cambodia Government Highlights the Economic Outcomes from the 2024 ASEAN Summits in Laos
The Cambodian government has reflected on its participation in several high-level regional meetings, highlighting key economic outcomes and the nation’s ongoing commitment to regional development. Prime Minister Hun Manet represented Cambodia at the 12th ASEAN-U.S. Summit, the 19th East Asia Summit, the 14th ASEAN-United Nations Summit, and the 2nd Asia Zero Emission Community (AZEC) Leaders Meeting, all held on October 11, 2024, in Vientiane, Laos. The meetings focused on advancing economic partnerships and sustainability initiatives, which align with Cambodia’s long-term economic goals.
October 14, 2024 | Cambodia Investment Review | Link: https://tinyurl.com/4we2c35c
- US election results likely to impact Cambodia’s economy
The US presidential election on November 5 is watched closely by policymakers, economic commentators and business people across the Southeast Asia region, including Cambodia given the potential impact of the poll results on the region’s trade and foreign direct investment (FDI) prospects, as well as downstream effects to domestic employment and financial markets.
October 17, 2024 | Khmer Times | Link: https://tinyurl.com/yem8nj5v
- Cambodia-Vietnam trade crosses $5.8B in 9 months
Cambodia-Vietnam trade volume reached $5.81 billion, up 21.9 percent from $4.77 billion in the same period in 2023, according to a report of the General Department of Customs and Excise of Cambodia (GDCE).
October 18, 2024 | Khmer Times | Link: https://tinyurl.com/3vep8y2w