Property News Roundup August 1st, 2022

01 August 2022 | Posted in News

We’re delighted to share the weekly news highlights below.

  1. CRBC to conduct PP-Bawet expressway study

The government has confiscated the right of conducting a feasibility study on the Phnom Penh-Bavet Expressway project from China Railway International Group Co Ltd (CRIG) after its failure to complete the study for 3 years and commission China Road and Bridge Corporation (CRBC) instead.

June 25, 2022 | Khmer Times | Link:

  1. Cambodia gets $1.29 billion China investment in H1

Cambodia received a $1.29 billion fixed-asset investment from China, approximately 43% of the total investment, in the first half of this year due to the Cambodia-China Free Trade Agreement (CCFTA) and the Regional Comprehensive Economic Partnership (RCEP).

June 25, 2022 | Khmer Times | Link:

  1. JICA Launches Smart City Approach to Solve Urban Problems in SR

The smart city project in Siem Reap is being studied and implemented by two bodies, Japan’s Ministry of Land, Infrastructure, Transport, and Tourism (MLIT), and Japan International Cooperation Agency (JICA). From May 2022 to May 2025, JICA has decided to implement Smart Parking System, and the Smart Scooter pilot project in Siem Reap while MLIT will implement the Smart City Data Collection and Analysis project, and CCTV System Introduction.

June 25, 2022 | Construction Property News | Link:

  1. Construction down post-Covid

A total of 1,679 new construction projects were approved nationwide in the first five months of 2022, down by 150 developments or 8.20 per cent year-on-year, even after the government in November moved to allow a broader resumption of socio-economic activity as Covid-19 eased, which fuelled a rebound in trade.

June 27, 2022 | Phnom Penh Post | Link:

  1. Ministry mulling road linking SHV port to new expressway

The Ministry of Public Works and Transport plans to look into building a road that connects the Sihanoukville port with the under-construction Phnom Penh-Sihanoukville Expressway, to reduce traffic congestion and the frequent road accidents that occur along National Road 4, as well as facilitate the transportation of goods to and from the Kingdom’s sole deep-water seaport.

June 27, 2022 | Phnom Penh Post | Link:

  1. Government reclassifies 10 hectares of Choeung Ek Lake land to private sector

The Royal Government of Cambodia has reclassified 106,429 square meters (10 hectares) of Choeung Ek Lake into state private property and handed it to Oknha Lok Hour, private sector, with taxes and duties borne by the government. The first location is 885 square meters and the second location is 105,544 square meters in Meanchey district.

June 27, 2022 | Construction Property | Link:

  1. KH prepares master plan for intermodal transportation from 2022-2030

The ministry is cooperating with YCH on the Phnom Penh logistics center development study project, Sihanoukville logistics center development study project, Tonle Bassac navigation development study project and high-speed rail modernization study project, Phnom Penh-Bavet expressway Project, and construction of Kampong Thom-Kampong Chhnang, Battambang-Siem Reap Expressway, an effective logistics system.

June 27, 2022 | Construction Property | Link:

  1. High prospects for S’pore FDI

The Council for the Development of Cambodia (CDC) on July 26 said it approved 127 Singapore-owned investment projects worth $1.53 billion as of June 30, since it was established in 1994. Singapore is amongst Cambodia’s top five foreign investors with tourism, manufacturing and infrastructure as top areas of Singaporean investment.

June 28, 2022 | Phnom Penh Post | Link:

  1. Samsung Electronics seeks more trade and investment in KH

A delegation of Samsung Electronics led by its President and CEO for Southeast Asia and Oceania Mr Sangho Jo has sought more trade and investment opportunities, and cooperation in trade promotion in Cambodia.

June 29, 2022 | Khmer Times | Link:

  1. NBC eyes KHQR payments in Laos, VN

The National Bank of Cambodia (NBC) is working with Lao and Vietnamese authorities to expand the use of KHQR code cross-border payment systems to promote trade and investment as well as increase the scope of regional economic linkages, and in particular, facilitate remittances from overseas workers.

June 29, 2022 | Phnom Penh Post | Link:

  1. KH, Korea collaborate on master plan for smart transportation system in Cambodia

The Ministry of Public Works and Transport (MPWT) has partnered with the KRIHS Institute of the Republic of Korea to develop a master plan for the intelligent transportation system in Cambodia.

June 29, 2022 | Construction Property | Link:

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