Property News Roundup December 19th, 2022
We’re delighted to share the weekly news highlights below.
- South Korea provides US$2B loan to Cambodia for key infrastructures development
The Government of the Republic of Korea has provided concessional loans of nearly US$2 billion to build two key infrastructures and boos the overall economy.
December 09, 2022 | Construction Property | Link: https://bit.ly/3uRpKnf
- South Korea provides US$70M concession loan for grid system enhancement in Cambodia
The South Korean government has provided US$70 million in concession loan for a grid system improvement project in Preah Sihanoukville province.
December 09, 2022 | Construction Property | Link: https://bit.ly/3FXMAji
- PM Hun Sen commits to build two more expressways PP-Bavet and PP-Siem Reap
Prime Minister of Cambodia Samdech Techo Hun Sen said that the Royal Government will build two more expressways, Phnom Penh-Bavet and Phnom Penh-Siem Reap.
December 09, 2022 | Construction Property | Link: https://bit.ly/3V59MjX
- Construction of Arey Ksat Bridge set to begin by the end of 2023
The Cambodia-Korea Friendship Bridges Project (Old Market – Chroy Changvar & Chroy Changvar – Arey Ksat) is set to begin construction by the end of 2023 as the legal procedure of the project has yet to be completed.
December 12, 2022 | Construction Property | Link: https://bit.ly/3htNWZL
- ADB provides US$73M fund to Cambodia to boost coastal fisheries
The Asian Development Bank (ADB) has approved a US$73 million financing package to promote sustainable climate resilience and coastal & marine fisheries in Cambodia, according to the press release.
December 12, 2022 | Construction Property | Link: https://bit.ly/3FBycM8
- High fuel prices continue to fall as Cambodia strives for more EV use
As Cambodia moves towards an increase use of EVs and economic recovery, fuel prices across the country continues to fall from the high prices seen during the height of the pandemic. The prices of gasoline from December 11 to 20 have dropped, as did the price of diesel.
December 12, 2022 | Khmer Times | Link: https://bit.ly/3V7YbR8
- GDLT, CDIA to set up electric bus system in Siem Reap
The General Department of Land Transport (GDLT) has partnered with Cities Development Initiative For Asia (CDIA) to implement a comprehensive study project on the feasibility of setting up a public transport system for electric buses in Siem Reap.
December 13, 2022 | Construction Property | Link: https://bit.ly/3W463o8
- Australia provides US$65m fund for development in four key sectors in Cambodia
The Australian Embassy in Cambodia has provided US$65 million in grants to help develop four key sectors over a five-year period (June 2022 to June 2027).
December 13, 2022 | Construction Property | Link: https://bit.ly/3WpN5bs
- PM Hun Sen: Electricity & Oil price in Cambodia under control
Cambodia Prime Minister Samdech Hun Sen has ordered Electricity du Cambodge (EDC) and the Ministry of Mines and Energy to keep electricity prices stable and as low as possible while warning private companies not to increase oil prices arbitrarily.
December 13, 2022 | Construction Property | Link: https://bit.ly/3BHbD7P
- Cambodia imports iron & steel worth over US$300 million in 11 months
Cambodia imported US$327 million worth of iron and steel in the 11 months of 2022, a year-on-year increase of 22%.
December 13, 2022 | Construction Property | Link: https://bit.ly/3WF4eht
- Gov’t plans to build US$200M bridge connecting NR1, Lvea Em & PP-Bavet expressway
The Cambodian Government plans to build a new US$200-million bridge connecting NR1 to Lvea Em and to the upcoming Phnom Penh-Bavet expressway.
December 14, 2022 | Construction Property | Link: https://bit.ly/3W1Aifu
- Gov’t spent US$1B loan in first 9 months of 2022; 54% for infrastructure
During the first 9 months of 2022, the Cambodian government withdraw approximately US$1 billion in cash from concessional loans, 54% of which was used in infrastructure development, according to the recent Cambodia Public Debt Statistics Bulletin.
December 14, 2022 | Construction Property | Link: https://bit.ly/3V3iDCA
- Cambodia to promote sustainable beach development
Minister of Land Management Urban Planning and Construction HE Chea Sophara said on 13 December that joining the Club of the Most Beautiful Beaches in the World will drive a new turning point for Cambodia, both in terms of socio-economic aspects, tourism, urbanization and the environment.
December 15, 2022 | Construction Property | Link: https://bit.ly/3FZKoId
- ADB assists Cambodia on energy transition program
The Asian Development Bank (ADB) has approved a sector development program that combines a US$50 million policy-based loan package with US$23 million in project investments to support the energy transition of Cambodia.
December 15, 2022 | Construction Property | Link: https://bit.ly/3BF8RQv
- PM Hun Sen pushes for EU-ASEAN FTA
Prime Minister Hun Sen urged the officials of the Association of Southeast Asia Nations (ASEAN) and European Union (EU) to expedite the establishment of the EU-ASEAN Free Trade Agreement after the leaders of the two regional organizations reaffirmed the deal as a common long-term objective.
December 16, 2022 | Construction Property | Link: https://bit.ly/3YFXMZp