News
Better Recovery for Construction and Real Estate Sector
2012 has been an impressive year for Cambodia’s economic resilience. Among the many sectors that had positively grown are the construction and property development [sic] and they are expected to be among the highest growth achievers in the current year as well. In 2012, the ...
Cambodia's economy to grow by 7 pct in 2013: finance minister
Cambodia’s economy is projected to grow by 7 percent this year, Deputy Prime Minister and Finance Minister Keat Chhon said Friday. He said the growth still is contributed by garment exports, tourism, agriculture, real estate and construction. Last year, Cambodia’s GDP per capita was nearly 1,000 ...
http://news.xinhuanet.com/english/business/2013-03/29/c_132271714.htm
Cambodia’s Economic Growth Will Help Poverty Reduction
Cambodia economic growth was 7.3 percent in 2012. Agriculture grew by 4.3 percent, crops by 4.9 percent, fisheries by 6.7 percent, industry by 9.2 percent, garment [sector] by 6.9 percent and the service industry by 8.1 percent, said Dr Hang Chuon Naron, Secretary of State ...
Construction costs low, but could rise
Construction costs in the Kingdom have increased only 1.36 per cent year-on-year, compared to Cambodia’s inflation rate, which is projected at 3.5 per cent for 2012, according to a new report from global estate agents CBRE. The company says the minimal increase is due to the ...
http://www.phnompenhpost.com/2013030761790/Real-Estate/construction-costs-low-but-could-rise.html
Cambodian, Chinese entrepreneurs meet to seek business chances
The 2013 China’s Zhejiang and Cambodia matchmaking symposium was held here on Tuesday to seek opportunities to expand business ties between China and Cambodia. Gong Zheng said the Chinese firms are doing businesses in the fields of agriculture, infrastructure development, construction and real estate, mineral ...
http://news.xinhuanet.com/english/china/2013-03/05/c_132210667.htm
Kampot land prices stable
Property experts said the land prices in Kampot province have been “stable” in early 2013 despite trading more actively than last year. Nuon Rithy, managing director at the Bonna Realty Group, said the trading of land in Kampot province is quiet and nothing changes much because ...
http://www.phnompenhpost.com/2013022861646/Real-Estate/kampot-land-prices-stable.html
Cambodia's economy grows by 7.3% in 2012: PM
Cambodia achieved a GDP growth rate of 7.3 percent last year, Prime Minister Hun Sen said Wednesday, forecasting that the growth would be higher than 7 percent this year. Addressing a conference on 2013 Cambodia Outlook, he said the growth last year came from strong growth ...
http://news.xinhuanet.com/english/business/2013-02/20/c_132180432.htm
Huawei to Build 4G Phone Network for Chinese Firm
Chinese Telecommunications giant Huawei has signed a deal to install thousands of transmitters across Cambodia to create a new high-speed mobile telephone and Internet network, according to a statement received yesterday. Huawei Technologies (Cambodia) Co. Ltd. and Xinwei (Cambodia) Telecom Co. Ltd. – a local subsidiary ...
Oil prices hit all-time high in Cambodia
Oil prices in Cambodia hit the highest of all time on Friday, with a liter of premium gasoline going for 1.45 U.S. dollars at all petrol stations in the capital. The price is the highest ever if compared with the peak price of 1.41 U.S. dollars ...
http://news.xinhuanet.com/english/business/2013-02/15/c_132169890.htm
Toll Royal Railways Yet to Spend Pledged Funds
Toll Royal Railways, the company holding the 30-year concession to operate Cambodia’s rail network, has so far only spent a tiny fraction of the millions of dollars of investment it promised upon winning the deal, documents of the firm’s expenditure show. The operation of the railways ...
Villagers Petition Against Dam
Ethnic minority villagers expecting to be displaced by a proposed Chinese-built hydroelectric dam in northeastern Cambodia are asking the country’s parliament not to approve a law providing financial guarantees for the project. Villagers living along three rivers that will be affected by the dam spoke ...
http://www.rfa.org/english/news/cambodia/villagers-02142013163955.html
Investment Or Imperialism? Tracking China's Big Ambitions In Cambodia
A few years ago this scene would have played out in China. More specifically, it would have played out in a Chinese coastal region to which millions of rural folks had arrived looking for work. A huge hangar, piles of fabrics of all colors at both ...
France Ready for Talks on Gas Power Plant
Utilities giant Electricite de France (EdF) is preparing to enter negotiations with Cambodia over the construction of a power plant to use up natural gas locked up in disputed waters off the country’s coast, France’s ambassador-in-waiting to Cambodia said on Tuesday. Serge Mostura, who is still ...
http://www.cambodiadaily.com/business/france-ready-for-talks-on-gas-power-plant-9596/
Aeon considering more malls in Phnom Penh
More than 4,000 people attended a ceremony in December last year that saw Japan’s largest shopping mall developer and operator, Aeon, breaking ground on its three-storey mall in Phnom Penh, and the company says it is already considering building more in the capital. Aeon Mall ...
Ambition Trumps Reality in Investment Figures
Since 2008, a whopping $28 billion worth of investments has been pledged by local and international firms looking to set up luxury hotels, a new airport and even Cambodia’s first horse racing venue. But a closer look at the list of investments approved by the Cambodian ...
http://www.cambodiadaily.com/business/ambition-trumps-reality-in-investment-figures-9387/
National Land Program Dropped Communal Titles
Prime Minister Hun Sen’s land-titling scheme announced in June originally included a directive for granting collective property titles to indigenous communities, but this part of the program was scrapped weeks later as it was deemed too costly and time-consuming, documents obtained yesterday show. For “indigenous ...
http://www.cambodiadaily.com/news/national-land-program-dropped-communal-titles-9480/
Sen Sok Condo’s second project starts
After the success of its first project, the Shangri-La Garden City, Sen Sok Condo Company is beginning its second project along Road 595, located two kilometres north of the 7 Makara Sky Bridge. Construction on the second project, called Maldives City, has begun, and the company ...
http://www.phnompenhpost.com/2013013061083/Real-Estate/sen-sok-condo-s-second-project-starts.html
Villagers Still in the Dark About Lower Sesan Hydropower Dam
Thousands of villagers who will lose their land to the construction of the Lower Sesan 2 dam in Stung Treng province later this year have not been told of the government’s plans for their resettlement and compensation, a new study released yesterday shows. Through interviews with ...
Minh: Connectivity is key to Asean's tourism plans
Connectivity is crucial to the process of building the Asean Community, and ties in with the effort to market the region as a single tourist destination, the grouping’s chief said. “Asean is in the process of building the Asean Community, and in the process of building ...
http://www.nationmultimedia.com/aec/Minh-Connectivity-is-key-to-Aseans-tourism-plans-30198610.html
Value of construction in Cambodia skyrockets
The amount of money spent on construction in Cambodia soared by 72 per cent in 2012 compared to 2011, according to data from the Ministry of Land Management, Urban Planning and Construction. The ministry said it had issued 1,694 construction patents covering 6.5 million square metres ...
Cambodia inaugurates China-financed new container terminal
Cambodia on Tuesday inaugurated a new container terminal of the Phnom Penh Autonomous Port, turning the port as a large hub for logistics supply and goods collection and distribution. The inauguration ceremony was presided over by Cambodian Prime Minister Hun Sen and Chinese Ambassador to Cambodia ...
http://news.xinhuanet.com/english/china/2013-01/22/c_132119517.htm
Japan Marks 60 Years of Relations With Cambodia
This year marks the 60th anniversary since the start of diplomatic relations between Cambodia and Japan – the country’s largest bilateral donor – and to celebrate, the Japanese Embassy is planning an array of cultural events. Speaking at a ceremony to mark the anniversary, Japanese Ambassador ...
Groups slam ministers' failure to discuss Xayaburi Dam
Regional conservationists criticised the Mekong River Commission (MRC) yesterday for leaving the controversial Xayaburi Dam off its agenda at this week’s annual ministerial meeting in Luang Prabang, Laos. Laotian authorities said they would confirm their decision to go ahead with the hydropower project in the mainstream ...
http://www.nationmultimedia.com/aec/Groups-slam-ministers-failure-to-discuss-Xayaburi--30198036.html
Phnom Penh office demand continues to expand
Office rental growth in Phnom Penh increased 10 to 15 per cent by the end of 2012, said an official of the Cambodian Valuers and Estate Agents Association, as the number of local and international companies have risen significantly. Chrek Soknim, deputy director of VTrust property ...