Property News Roundup August 15th, 2022
We’re delighted to share the weekly news highlights below.
- PM orders to cancel all development permits in the Phnom Tamao area
Samdech Prime Minister Hun Sen immediately orders the cancellation of all permits for exchange and development in Phnom Tamao.
August 8, 2022 | Construction Property | Link: https://bit.ly/3Sx3TvT
- Construction of Koh Tonsay, landfill and coastal road in Kep province 62% complete
Construction of Koh Tonsay tourism port, landfill, and coastal road in Kep Province has been 62% complete, according to the meeting on 4 August 2022.
August 8, 2022 | Construction Property | Link: https://bit.ly/3BRpWr9
- Concern as orders for garments wind down
The commerce ministry and apex garment makers’ body have expressed concern over a decline in purchase orders from Western nations, Cambodia’s main garment export market, after members of the association reported reductions and revisions in contracts.
August 8, 2022 | Phnom Penh Post | Link: https://bit.ly/3p3JeSM
- NBC sets official exchange rate on NBCP
The National Bank of Cambodia (NBC) has started to set the official exchange rate for the dollar based on the foreign exchange buying and selling prices in the currency market from August 2.
August 9, 2022 | Khmer Times | Link: https://bit.ly/3P3kcxn
- Ministry of Tourism urges direct flight from Phu Quoc to Siem Reap
The Ministry of Tourism is studying the possibility of making a new tourism scheme to boost Siem Reap’s tourism, by urging airlines to have more direct flights to Siem Reap from other major tourist destinations such as Phu Quoc.
August 10, 2022 | Construction Property | Link: https://bit.ly/3QwxAeO
- KH conserves 76 biodiversity areas accounting for 41% of country’s lands
Cambodia has 76 biodiversity conservation areas as natural protected areas and biodiversity corridors, accounting for 41% of the country’s lands, as confirmed by the Ministry of Environment on 8 August 2022.
August 10, 2022 | Construction Property | Link: https://bit.ly/3Qyxcwd
- Bridge connecting Koh Norea to NR1 scheduled to open in September
Koh Nora Development Company plans to open the bridge connecting Koh Nora to National Road 1 in September, as the construction is now more than 90 percent completed.
August 11, 2022 | Construction Property | Link: https://bit.ly/3PfgL6Q
- KH sees tailwinds after China changes Covid flight rules
The Cambodian aviation sector is crossing its fingers for an uptick in flights from China after Beijing shortened the suspension time for inbound international flights to the East Asian country that carry passengers infected with SARS-CoV-2, the coronavirus that causes Covid-19.
August 11, 2022 | Phnom Penh Post | Link: https://bit.ly/3A9lyma
- Singapore-based AMRO sees 5.0% GDP expansion in 2022
Singapore-based ASEAN+3 Macroeconomic Research Office (AMRO) on August 11 put Cambodia’s economic growth at a robust 5.0 per cent in 2022, thanks to high vaccination rates and strong fiscal stimulus packages, but warned of a slowdown in export orders from key buyers, especially the US and EU for textile-related goods in the second half of the year.
August 12, 2022 | Phnom Penh Post | Link: https://bit.ly/3pc31z9
- KH weighs options to forsake LDC status
Senior government officials and United Nations Conference on Trade and Development (UNCTAD) on Wednesday discussed ways to assess the vulnerability of Cambodia when the country leaves the Least Developed Country status, according to a release by the Ministry of Commerce (MoC).
August 12, 2022 | Khmer Times | Link: https://bit.ly/3vXZCIj