Property News Round-up February 21st, 2022
Property News Roundup February 21st, 2022
We’re delighted to share the weekly news highlights below.
- Kingdom, South Korea plan for post-FTA era
South Korea has pledged to expand economic and trade cooperation with Cambodia after a free trade agreement (FTA) signed by the two countries last year enters effect in the near future, Prime Minister Hun Sen affirmed in a statement at the weekend.
Feb 14, 2022 | Phnom Penh Post | Link: https://bit.ly/3gHjWFw
- Cambodia and Canada agree to further strengthen investment ties
Bilateral trade between Cambodia and Canada has seen a significant increase as reflected through Cambodia’s export to Canada under a tariff-free and quota-free programme worth $954.82 million by 2022, says Pan Sorasak, Minister of Commerce.
Feb 14, 2022 | Khmer Times | Link: https://bit.ly/3GMvmCA
- Mortgaged Amount Reaches US$6.4bn as of December 2021, 26% Rise Y-o-Y
As of the end of 2021, the amount of mortgage loans in Cambodia was recorded accumulatively at US$6.4 billion, accounting for 54.15% of the total consumer loan balance, according to a recent report by the Credit Bureau Cambodia (CBC).
Feb 14, 2022 | Construction Property | Link: https://bit.ly/3HO8iot
- New Tax Laws to make e-commerce accountable
While many businesses selling online in Cambodia are in the process of understanding how to register their organisations with the Ministry of Commerce (MOC) for the payment of taxes, which will start April 1, the wider implications of the new laws regarding taxation are being examined for those wishing to succeed in the rapidly expanding e-commerce market.
Feb 15, 2022 | Khmer Times | Link: https://bit.ly/3gJeRNd
- Supply chain sector calls for fuel price intervention
Transport industry players and other stakeholders have reiterated a call for more government support to temper rising fuel prices, and blunt the impact on families and businesses. The latest plea comes as Thailand mulls allocating 500 million baht ($15.5 million) to provide loans to Covid-19-affected businesses in a bid to dampen the impact of high oil prices on the cost of living, as reported by the Bangkok Post at the weekend, citing finance minister Arkhom Termpittayapaisith.
Feb 16, 2022 | Phnom Penh Post | Link: https://bit.ly/3rRMlPR
- Ascott to Open Citadines Serviced Residence in Phnom Penh in March
Ascott Limited will launch a new serviced residence in Phnom Penh— Citadines Flatiron Phnom Penh— this upcoming March, offering a wide selection of rooms and apartments from hotel units to bedroom apartments, the firm said in a press release.
Feb 16, 2022 | Construction Property | Link: https://bit.ly/34ZsoNM
- Cambodian PM encourages more investments from Singapore
Prime Minister Hun Sen has urged Singapore to encourage more investors to do business in Cambodia. The encouragement was made during the courtesy meeting between the Cambodian Premier and visiting Singapore Foreign Minister Dr. Vivian Balakrishnan, at the Peace Palace Wednesday.
Feb 17, 2022 | Khmer Times | Link: https://bit.ly/3sQvTyF
- Cambodia-Korea trade values $108 million in January
Bilateral trade between Cambodia and South Korea was valued at $108 million in the first month of 2022, a year-on-year increase of 27.7 percent, according to figures from the Korea International Trade Association.
Feb 17, 2022 | Khmer Times | Link: https://bit.ly/3I0FOI8
- Singapore eyes local cold-storage scene
Singapore intends to invest in cold storage in Cambodia as the agricultural sector faces a dire need to safely and adequately store quality products to boost exports. The intent was expressed by a delegation of Singaporean investors led by foreign minister Vivian Balakrishnan at a meeting with Cambodian Prime Minister Hun Sen on February 16.
Feb 18, 2022 | Phnom Penh | Link: https://bit.ly/3sRE4uf
- CDC approves six new investment projects worth US$66 million
The Council for the Development of Cambodia (CDC) has given permits to private firms to invest approximately US$66 million to build five factories and one shopping mall in Phnom Penh, Kampong Speu, Takeo, and Sihanoukville.
Feb 18, 2022 | Construction Property | Link: https://bit.ly/3LI5CuJ