Property News Roundup, December 20th, 2021
Property News Roundup December 20th, 2021
We’re delighted to share the weekly news highlights below.
- Construction of PP-SHV Expressway over 70% complete
The construction of the 190-kilometre Phnom Penh-Sihanoukville Expressway was 70.93% complete as of November. The updates were shared in an inspection visit led by H.E. Yit Bonna, Secretary of State of the Ministry of Public Works and Transport (MPWT) on Friday 10 December.
Dec 13, 2021 | Construction Property | Link: https://bit.ly/3lZ0XJA
- At least 85 economists from Francophone countries present in Cambodia for the first time
The Ministry of Foreign Affairs and International Cooperation has said that that the first press conference of the Francophone Economic and Trade Mission (OIF) was held last week, under the chairmanship of Dr. Chhiv Yi Seang, Secretary of State of the Ministry of Foreign Affairs and International Cooperation and National Coordinator of the International Francophonie.
Dec 13, 2021 | Khmer Times | Link: https://bit.ly/32g5EYQ
- SSEZ imports, exports reach $2B in Jan-Nov
The value of imports and exports passing through the Sihanoukville Special Economic Zone (SSEZ) reached $2.001 billion in the first 11 months of 2021, marking a 40 per cent year-on-year surge from $1.429 billion, the operator reported at the weekend.
Dec 14, 2021 | Phnom Penh Post | Link: https://bit.ly/3oQZyH2
- Cambodia fourth most-fully vaccinated country in developing Asia, says ADB
The Asian Development Bank (ADB) said Tuesday that Cambodia ranked fourth among 46 developing member economies across the Asia-Pacific region in terms of being fully vaccinated against Covid-19 at the end of November.
Dec 15, 2021 | Khmer Times | Link: https://bit.ly/3EWazfD
- Government plans additional $250 million for SMEs
The Royal Government plans to provide $250 million through the Cambodian state-run SME Bank under the co-financing scheme to support the SME sector in Cambodia to have access to financing to further develop their businesses.
Dec 15, 2021 | Khmer Times | Link: https://bit.ly/3DTHY9t
- Gov’t Plans New Financing Program for Hotel Businesses to Renovate Their Venues
The Ministry of Economy and Finance plans to provide additional financing packages to tourism and hotel operators so that they can use the capital to rehabilitate, renovate or expand their venues during the reopening period.
Dec 15, 2021 | Construction Property | Link: https://bit.ly/3yvi7Uj
- GDP growth for 2021 targeted at 3 percent
Prime Minister Hun Sen has expressed optimism that the Kingdom’s GDP growth this year will reach around 3 percent, which is more than the rate mentioned in the budget bill.
Dec 16, 2021 | Khmer Times | Link: https://bit.ly/3oYbsyU
- Japan to provide US$13.9 million grant aid to upgrade Sihanoukville deep seaport
The Japanese government will provide some US$13.9 million in grant aid to Cambodia, contributing to the development of the Sihanoukville deep seaport.
Dec 16, 2021 | Construction Property | Link: https://bit.ly/3s7tcKf
- Commerce law changes approved
The Council of Ministers on December 16 approved two draft bills, respectively amending the Law on Commercial Enterprises (“LCE”) and Law on Commercial Regulations and the Commercial Register (“LCRCR”), which are designed to improve the ease of doing business in Cambodia and prepare for post-Covid economic recovery.
Dec 17, 2021 | Phnom Penh Post | Link: https://bit.ly/3J76Tui
- Total Energies offers solar solution to local garment manufacturers
TotalEnergies and Vanco Industries have teamed up to install 750kWp of rooftop solar in Cambodia’s Kandal province. Vanco is part of the Dakota Group of Companies. It supplies garments to Swedish fashion chain H&M, which has pledged to cut emissions 56 percent by 2030 and become climate positive ten years later.
Dec 17, 2021 | Khmer Times | Link: https://bit.ly/3GKCY94