Property News Round-up, January 10th, 2022
Property News Roundup January 10th, 2022
We’re delighted to share the weekly news highlights below.
- RCEP certificates issued to ease flow of international trade, Cambodia needs manual signatures
The China Council for the Promotion of International Trade (CCPIT), China’s foreign trade and investment promotion agency, issued RCEP certificates of origin for 69 Chinese enterprises nationwide on Jan 1.
Jan 03, 2022 | Khmer Times | Link: https://bit.ly/3eLzC9O
- Hope 2022: Cambodian economy to propel at 5 percent, says NBC report
The National Bank of Cambodia has forecast that the Cambodian economy will continue to grow at a rate of 5 percent in 2022. The National Bank of Cambodia’s report on “Macroeconomic and Banking Progress in 2021 and Outlook 2022” states that Cambodia’s economic recovery is supported by the export of garments and non-garment products, electronic components and bicycles that will enhance Cambodia’s export diversification.
Jan 03, 2022 | Khmer Times | Link: https://bit.ly/3mQfW9l
- More than two million tourists traversed the country during the New Year weekend
The Ministry of Tourism has reported that the three days of the New Year holiday and weekend from December 31, 2021 to January 2, 2022 brought 2,002,298 domestic tourists out to traverse the country and take in the tourism sites of Cambodia.
Jan 04, 2022 | Khmer Times | Link: https://bit.ly/3EQUMhx
- Gov’t Plans to Build, Rehabilitate & Upgrade Four Airports
The Cambodian government plans to build two new airports and upgrade two other existing airports, according to the Law on Financial Management for 2022. The four projects are in the projects under the Office of the Council of Ministers, which include the construction of new Ratanakiri and Preah Vihear airports (both Class 3), as well as the upgrade of Battambang Airport (Class 3) and Stueng Treng airport (Class 4).
Jan 04, 2022 | Construction Property | Link: https://bit.ly/31leFPY
- Gov’t to transform Koh Kong into Cambodia’s largest SEZ cluster
The Cambodian government plans to transform Koh Kong into the largest Special Economic Zone (SEZ) cluster in Cambodia in the near future, according to PM Samdech Hun in the opening speech at the NR48 renovation groundbreaking ceremony on 3 January.
Jan 04, 2022 | Construction Property | Link: https://bit.ly/3FVRF9w
- Cambodia’s per capita income in 2022 expected to increase to $1,842
The Cambodian economy in 2022 is projected to achieve a growth rate of around 4.8 percent, making the gross domestic product (GDP) current value …to approximately $30.544 billion, while per capita GDP is expected to reach $1,842, compared to $1,730 in 2021.
Jan 05, 2022 | Khmer Times | Link: https://bit.ly/3zzroeM
- All Projects Must Now Be Inspected & Certified Before Occupation
The Construction Law of 2019 clearly states that all projects that required construction permits must be inspected and certified before they can be used or occupied. However, the law also has given a two-year grace period for construction owners to adjust. That grace period has now ended, and the Ministry of Land Management, Urban Planning and Construction (MLMUPC) will strictly implement this regulation from 2022 onwards.
Jan 05, 2022 | Construction Property | Link: https://bit.ly/34b7YRB
- China, Cambodia to promote free trade deal with zero tariff on more than 90 percent of imports from Cambodia
China and Cambodia will promote implementation of their free trade agreement which took effect on Jan 1 to benefit the enterprises and people of the two nations, China’s Ministry of Commerce said on Wednesday. According to the free trade agreement, both nations will grant zero-tariff treatment to more than 90 percent of imports from the other side eventually.
Jan 06, 2022 | Khmer Times | Link: https://bit.ly/3pXrzNG
- Cambodia-Canada trade up 26%, EU-Cambodia trade up 11% in Jan-Oct 2021
Trade between Cambodia and Canada was valued at about $822 million in the first 10 months of 2021, marking a 26 per cent year-on-year (YoY) hike, while Cambodia-European Union (EU) trade rose by 11 per cent to about $3.48 billion in that duration, according to the Cambodian ministry of commerce.
Jan 06, 2022 | Khmer Times | Link: https://bit.ly/3EY5anQ
- 63 infrastructure development projects set to be implemented in Kandal in 2022
The Kandal Provincial Administration sets the goal to implement a total of 63 provincial development projects in 2022, most of which focus on the development of roads, administrative buildings, street lightings, among other infrastructures. The projects were mentioned during the meeting on Wednesday 5 January chaired by Kandal Governor HE Kong Sophorn.
Jan 06, 2022 | Construction Property | Link: https://bit.ly/3G2VARL