Property News Roundup July 13th, 2021
We’re delighted to share the weekly news highlights below.
- Investment draft law to be submitted for approval on July 9th
The long-waited draft of the new investment law will be submitted for government approval next week after the respective ministries completed compiling new inputs with the updated situation in Cambodia.
July 05th 2021 | Construction Property| Link: https://bit.ly/36cYF1j
- Major bridges along RR3 almost 100% complete
Construction of the two bridges crossing the Bassac River along Ring Road 3 is on average 97.25% complete, while the overall Ring Road 3 construction progress is also running smoothly, according to the Ministry of Public Works and Transport (MPWT).
July 06th 2021 | Construction Property | Link: https://bit.ly/3xmC6mG
- Koh Rong’s major infrastructure projects over 80% complete
The construction of three major infrastructure development projects on Koh Rong including a new municipality administration complex, hospital, and military base, have been over 80% completed as of 5 July, with plans to open to the public and tourists soon.
July 06th 2021 | Construction Property | Link: https://bit.ly/3dNd3S3
- China proposes “Sister City” ties between Hubei & SR, SHV, & KP provinces
China has proposed to establish a ‘Sister City’ agreement between its renowned commercial hub in Hubei province and Siem Reap, Kampot and Sihanoukville in Cambodia.
July 06th 2021 | Construction Property | Link: https://bit.ly/3hiGNIH
- CCFTA to be ratified soon by the National Assembly
The Cambodian Ministry of Commerce expects the bilateral Cambodia-China Free Trade Agreement (CCFTA) to be ratified by the National Assembly “soon”.
July 06th 2021 | Phnom Penh Post | https://bit.ly/3hAYPVv
- Environment Ministry issues new IESIA guidelines
The Ministry of Environment (MoE) has issued five new Prakas providing detailed procedural guidelines on five development sectors while conducting their Initial Environmental Social Impact Assessment Report (IESIA).
July 07th 2021 | Construction Property | https://bit.ly/2SPE5B0
- Investment projects & value dropped by 32% during the first five months of 2021
During the first five months of 2021, a total of 1,829 construction projects have been approved, a decrease of 278 projects compared to the same period last. These projects have a total amount of estimated investment value of US$2,349 million, which also dropped by 32%.
July 07th 2021| Construction Property | https://bit.ly/3jTdAWu
- 50 factories selected to implement carbon emission reduction tech
The Ministry of Industry, Science, Technology and Innovation (MISTI) has selected 50 factories in Phnom Penh, Sihanoukville and Battambang as the samples to implement new carbon emission reduction technologies, known as TEST.
July 08th 2021 | Construction Property | https://bit.ly/3hopuG9
- FDI flow drops 50% Jan-May
Investment projects for the first five months of 2021 were valued at $825 million, a 59% drop from results for the same period in 2020. The projects are expected to create 30,000 local jobs.
July 09th 2021 | Khmer Times | https://bit.ly/3wpKHUH
- PP to expand 100km in radius by 2035
Phnom Penh will continue to be a central service hub in the region with a population of six million with an expanded radius of 100 km by 2035 according to the Master Plan for Land Use in Phnom Penh in 2035, which was announced by the Royal Government.
July 09th 2021 | Khmer Times | https://bit.ly/3hSoiKe
11. Exports up 1.6%, imports up 17% y-o-y
Cambodian exports in the first five months of 2021 were worth $5.982 billion, up 1.6% year-on-year, while non-gold imports increased by 17% to $8.664 billion, according to the Ministry of Economy and Finance (MEF).
July 09th 2021 | Phnom Penh Post | https://bit.ly/3ALc8eM
12. PP’s vaccination campaign comes to a close
As of July 8, at 5:00 p.m. the Sub-Committee for Covid-19 vaccination declares the completion of the major operation. Currently, the vaccination campaign in the provinces is in operation.
July 09th 2021 | Khmer Times | https://bit.ly/2VphLze