Property News Roundup November 28th, 2022

28 November 2022 | Posted in News

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

  1. China set to be KH’s pepper’s biggest market

China is expected to become the largest market for Cambodia’s pepper as the country plans to import the commodity in large size, said the key insiders. Cambodia and China have recently signed a memorandum of understanding on the phytosanitary requirement for pepper export.

November 18, 2022 | Khmer Times | Link:

  1. Cambodia-Korea trade zooms 16% to $920M

In the January-October period, Cambodia exported $341 million worth of goods to Korea, up 20.7 percent as compared to the same period last year. Cambodia imported $579 million worth of products from the East Asia nation, up 8.1 percent year-on-year.

November 21, 2022 | | Khmer Times | Link:

  1. Minimum price on paddy rice takes effect

Farmers in Battambang and Banteay Meanchey provinces thanked the Ministry of Agriculture, Forestry and Fisheries and relevant authorities for their efforts to maintain an acceptable price on rice sold to traders.

November 19, 2022 | Phnom Penh Post | Link:

  1. Cambodia, Vietnam firm on $10 billion trade target

Cambodia and Vietnam continue to march towards the goal of achieving the $10 billion-plus bilateral trade volume this year and taking the economic partnership to a new high. The commitment reflects in the bilateral interactions too.

November 22, 2022 | Khmer Times | Link:

  1. Asian markets struggle as China Covid worries build

Growing fears about China’s latest Covid-19 outbreaks Tuesday rattled investors, who fear authorities will revert to highly restrictive containment measures that have already dealt a chilling blow to the world’s number two economy this year.

November 23, 2022 | Khmer Times | Link:

  1. Dara Sakor airport delayed till ‘mid-2023

The official start of operations at the Chinese-developed Dara Sakor International Airport in southwestern Koh Kong province has been delayed from end-2022 to mid-2023, due to prolonged Covid-19-related disruptions, regional and global economic uncertainty and heightened geopolitical competition, according to a senior aviation official.

November 22, 2022 | Phnom Penh Post | Link:

  1. NR48 completed by 11.76% by mid-November

As of mid-November 2022, the construction of National Road No. 48 has been completed by 11.76%. This is according to the site visit of HE Heng Ratanapiseth, Director General of the General Department of Public Works, Ministry of Public Works and Transport, accompanied by the technical team and construction company on November 21, 2022.

November 22, 2022 | Construction Property | Link:

  1. UNDP pegs Cambodia’s GDP growth rate at 4.9%

The UN Development Programme (UNDP) on November 23 announced that it revised down its 2022 estimate for the Kingdom’s gross domestic product (GDP) to 4.9 per cent, from the 5.4 per cent predicted before Russia had begun the ongoing military offensive in Ukraine on February 24.

November 23, 2022 | Phnom Penh Post | Link:

  1. Jan-Oct iron, steel imports up 23% to $245M

Cambodian “iron and steel” imports in the first 10 months of 2022 clocked in at $301.868 million, rising by 23.17 per cent year-on-year from $245.088 million, according to Customs. This category of items, corresponding to Chapter 72 of the harmonised tariff schedule, accounted for 1.169 per cent of the $25.818 billion value of the Kingdom’s total imports over the 10 months, General Department of Customs and Excise (GDCE) statistics show.

November 24, 2022 | Phnom Penh Post | Link:

  1. Ground Broken on The National Vocational Tourism Schools

The Ministry of Tourism has officially broken ground on the construction of the National Vocational Tourism Schools (VSTs). The ceremony was presided over by His Excellency Chea Sophara, Deputy Prime Minister and Minister of Land Management, Urban Planning, and Construction on 24 November.

November 24, 2022 | Construction Property | Link:

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