Property News Round-up, October 11th, 2021
Property News Roundup October 11th, 2021
We’re delighted to share the weekly news highlights below.
1. ADB-funded 11km beachfront road construction in Kep to being in November
The construction of the ADB-funded 11km beachfront road is scheduled to begin this upcoming November, according to the final decision between Kep Province and the Asian Development Bank (ADB), on 30 September.
Oct 4th, 2021 | Construction Property | Link: https://bit.ly/2ZKaBHQ
2. New offshore Koh Tonsay tourism port to begin construction by Mid-Oct
A new Koh Tonsay Tourism Port located on the Koh Tonsay Island, 4 km offshore of Kep province’s mainland, is set to begin construction on 16 October and is expected to take 15 months to complete.
Oct 4th, 2021 | Construction Property | Link: https://bit.ly/3a7C5cg
3. Diversion of NR No. 10 to bypass Kravanh Mountain to cost $60M
The construction of National Road No. 10 needs to increase the budget by nearly $60 million to divert the road so as not to damage the Cardamom Mountains, the environment and affect wildlife sanctuaries.
Oct 4th, 2021 | Khmer Times | Link: https://bit.ly/3mojZsm
4. KH-U.S. bilateral trade grew, achieving $4B in 1st 7 months
Bilateral trade between Cambodia and the U.S. continue to grow despite COVID-19.
Oct 4th, 2021 | Khmer Times | Link: https://bit.ly/3iuW8pU
5. Agro-industrial factory investments in KH reaches US$9.7B
As of August 2021, Cambodia has approved a total of 376 investment projects in agriculture and agro-industry worth over US$9.7 billion.
Oct 4th, 2021 | Construction Property | https://bit.ly/2ZVex8U
6. IMF pins 2021 economic growth at 2%
The Cambodian economy could be expected to grow by around two per cent this year and five per cent in 2022 with extensive government support and a recovery in external demand, according to the International Monetary Fund (IMF).
Oct 8th, 2021 | Phnom Penh Post | https://bit.ly/3iJMcZH
7. AMRO cuts ASEAN+3 growth forecast to 6.1% this year
Economic growth in the ASEAN +3 region, will be lower than forecast earlier this year, according to AMRO. It says the grouping, which includes the 10 ASEAN members plus China, Japan and South Korea will see an average 6.1 percent growth this year, down from its March forecast of 6.7 percent.
Oct 8th, 2021 | Khmer Times| https://bit.ly/3FtJHoc
8. KH parliament ratifies RCEP, bilateral FTA with China
The National Assembly of Cambodia ratified the Regional Comprehensive Economic Partnership (RCEP) which comprises 15 Asia-Pacific countries and the bilateral free trade agreement (FTA) with China to boost trade and investment.
Oct 8th, 2021 | Khmer Times | https://bit.ly/3uQa16S
9. 75 investment projects approved in first 8 months this year
The Council for the Development of Cambodia approved 75 private investment projects outside special economic zones during the first eight months of the year, a year-on-year decrease of 28 percent.
Oct 8th, 2021 | Khmer Times | https://bit.ly/3DqAECF
10. PM: Pchum Ben holiday a testament to KH’s success or failure in Covid-19 battle
Prime Minister Hun Sen said Cambodia is now in the trial and decisive stage as to whether the country will face a disaster or safety after the Pchum Ben holiday, when people flock to their hometowns for family reunion.
Oct 8th, 2021 | Phnom Penh Post | https://bit.ly/3agHbTV