Property News Roundup, September 27th, 2021
Property News Roundup September 27th, 2021
We’re delighted to share the weekly news highlights below.
- Garment, footwear, travel goods exports $7B
Cambodia sold more than $6.8186 billion worth of garments, footwear and travel products to international markets in the first eight months of 2021, according to the Ministry of Commerce. Garments accounted for $5,021,889,442.99, marking an increase of $160 million or 3.30 per cent over January-August 2020.
Sept 20, 2021 | Phnom Penh Post | Link: https://bit.ly/3nNvxaR
- Picking experts is key to making the most from real estate, says RICS
Cambodia has a lot of laws and regulations on what you can and can’t build and where you can build it. It also has a lot of agents who are willing to offer advice without doing the legwork to guide you through the red tape, according to members of the Royal Institute of Chartered Surveyors (RICS).
Sept 20, 2021 | Khmer Times | Link: https://bit.ly/3nMG2LA
- China sees CPTPP entry as ‘great contribution’ to world
China’s formal application on September 16 to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is “the latest proof” of the country’s higher-level opening-up and shows its resolve to “make greater contributions” to the world economy, experts and government officials said on September 17.
Sept 21, 2021 | Phnom Penh Post | https://bit.ly/3CncxUS
- Korea FTA planned to be signed in October
Minister of Commerce Pan Sorasak plans to lead a delegation to South Korea next month to sign the Cambodia-Korea Free Trade Agreement (CKFTA), if the Covid-19 situation permits, according to a senior official. Many observers share the opinion that the East Asian economy will outstrip most rivals as buyers of Cambodian merchandise once the agreement comes into force, with China cited as a notable exception.
Sept 21, 2021 | Phnom Penh Post | https://bit.ly/39nlz7R
- Foreign businesses welcome seven-day quarantine suggestion
Foreign professionals say Cambodia’s economy would be a big winner if the government adopted the prime minister’s suggestion for a seven-day quarantine, especially if it applied to businessfolk as well as tourist visa holders. The country is currently closed to tourists from abroad and business visa holders have to quarantine for at least 14 days in a hotel.
Sept 21, 2021 | Khmer Times | https://bit.ly/3zrRu1m
- Evergrande contagion possibility hits markets
World stocks sank on September 20 as trading floors were gripped by contagion fears from the expected collapse of debt-plagued Chinese property giant Evergrande.
Sept 22, 2021 | Phnom Penh Post | https://bit.ly/3AvfjXn
- Senate committee passes investment law
The new investment law will be more attractive and provide the Kingdom with better options to navigate the constantly evolving regional and global investment climate, according to Senate Third Committee chairman Mong Reththy.
Sept 22, 2021 | Phnom Penh Post | https://bit.ly/39t5ehO
- Three investment projects worth over US$15 million approved for Sihanoukville
The Council for the Development of Cambodia (CDC) has recently given permits to private firms to invest US$15.1 million in building three news factories in Sihanoukville.
Sept 22, 2021 | Construction Property | https://bit.ly/2ZaQSAQ
- Credit Guarantee Corporation of Cambodia launches $50 million Co-Financing Guarantee Scheme to support SMEs
Credit Guarantee Corporation of Cambodia (CGCC) announce the launch of the Co-Financing Guarantee Scheme (CFGS). CFGS is specifically designed for the co-financing loans disbursed under the SMEs Co-Financing Scheme Phase II (SCFS II) of the SME Bank of Cambodia.
Sept 23, 2021 | Phnom Penh Post | https://bit.ly/3i1ohVd
- ADB more than halves Kingdom’s economic growth expectations
The Asian Development Bank (ADB) has slashed its forecast for Cambodian gross domestic product growth (GDP) this year to 1.9 percent. That compares with its April forecast of 4 percent growth and last year’s economic contraction of 3.1 percent.
Sept 23, 2021 | Khmer Times | https://bit.ly/3nXuTro