Property News Roundup March 28th, 2022
We’re delighted to share the weekly news highlights below.
- Cambodian factories must comply with CSR standards or lose business from EU
2 new mandates: the German Supply Chain Act will come into force January 1, 2023, and the EU’s newly proposed due diligence act was put forward in February 2022 and will likely take effect from 2024.
March 21, 2022 | Cambodia Investment Review | Link: https://bit.ly/3tmH0Rg
- China, Cambodia to advance Belt and Road cooperation
Chinese President Xi Jinpin and Cambodian Prime Minister Samdech Techo Hun Sen agreed to promote Belt and Road cooperation, speed up the construction of major projects such as highways, airports and special economic zones, and expand cooperation in emerging fields such as finance and digital economy.
March 21, 2022 | Khmer Times | Link: https://bit.ly/34ZKrnE
- Hanoi urges shipping lane extension of coastal shipping between SHV and Kampot
Vietnam has asked the government to expand a shipping navigation route between its Phu Quoc island and Thailand. The ideal coastal shipping route would stretch from Khlong Yai district of Trat in Thailand to Phu Quoc Island in Vietnam with three stops in between, namely Sihanoukville in Cambodia, Kampot in Cambodia and Ha Tien in Vietnam.
March 21, 2022 | Khmer Times | Link: https://bit.ly/36bYdEd
- Chaom Chao interchange opened to ease congestion
The $22 million Chaom Chao interchange in Por Sen Chey district was temporarily opened, just east of the airport, for public use to ease traffic congestion ahead of its official inauguration set for March 31.
March 22, 2022 | Phnom Penh Post | Link: https://bit.ly/3wv9SIW
- Cambodia mobile payments surge in 2021
Covid-19 pandemic, together with a rise in FinTechs and Internet usage, has driven sharp growth in mobile payments in Cambodia. A total of 707.57 million online payment transactions worth $113.67 billion was recorded in 2021, up 46.7 percent and 19 percent, respectively, from 482.14 million transactions worth $95.31 billion in 2020.
March 22, 2022 | Khmer Times | Link: https://bit.ly/3N7Rcot
- KH-JP discussed potential FTA, conglomerate investment, agriculture exports
Cambodia and Japan agreed to combine efforts and turn the Sihanoukville Autonomous Port into a major international trade hub, strengthen and expand bilateral cooperation in fields such as manufacturing, energy, tourism and other economic sectors, as well as security, communications networks, and intellectual exchanges.
March 23, 2022 | Phnom Penh Post | Link: https://bit.ly/3iqNrfO
- EuroCham Cambodia & GMAC signed MOU
EuroCham Cambodia and GMAC have signed a Memorandum of Understanding (MoU) that will remain in force for an indefinite duration and defines a clear set of joint actions by the two associations for the coming years.
March 23, 2022 | Khmer Times | Link: https://bit.ly/3twsLJL
- Construction begins for new large-scale cold chain facility at Phnom Penh Port
The construction of a new large-scale cross-docking and cold storage facility has officially begun at the LM17 container terminal in Kandal province on 22 March 2022. The construction is an investment by InfraCo Asia through Khmer Cold Chain Company with help from development partners such as the UK, the Netherlands, Switzerland, and Australia, among others.
March 23, 2022 | Construction Property | Link: https://bit.ly/3D55XEb
- Transport Minister: Cambodia needs US$50bn to implement 10-year logistics master plan
The logistics master plan in Cambodia calls for the investment of US$50 billion for the next 10 years to implement over 300 projects in order to make Cambodia’s transportation infrastructure more efficient and productive.
March 23, 2022 | Construction Property | Link: https://bit.ly/3tusaZ2
- Cambodia-Korea Friendship Bridge to be built from Night Market to Arey Ksat area
The Cambodia-Korea Friendship Bridge will be built into two parts – from the Night Market (Old Market area) in Phnom Penh capital to Chroy Changvar area, and from Chroy Changvar to Arey Ksat area in Kandal province’s Lovea Em district.
March 24, 2022 | Khmer Times | Link: https://bit.ly/3qsjeBC
- Takhmao-Koh Thom NR21 officially inaugurated
The $61 million National Road No. 21, stretching over nearly 64 kilometres, connecting the Takhmao roundabout in Takhmao town to the Cambodia-Vietnam border (Chrey Thom – Long Binh) was put into official use this morning after the construction was completed in 2019.
March 24, 2022 | Khmer Times | Link: https://bit.ly/3IBbYt2
- EV Charging Stations to be built at petrol stations
The charging stations will be built at the Ministry of Public Works in Phnom Penh and the provinces of Battambang, Siem Reap and Preah Sihanouk. The Ministry of Public Works and Transports has discussed with Caltex, Total and PTT to install at least 10 electric vehicle (EV) charging stations this year.
March 24, 2022 | Khmer Times | Link: https://bit.ly/3JCtte4
- Kandal Authority revising infrastructure development masterplan in 3 major district
Kandal provincial administration is speeding up revision of the infrastructure development master plan in Kaoh Thum, S’ang and Leuk Daek districts.
March 25, 2022 | Construction Property | Link: https://bit.ly/3DcuMOA
- Contract signed for NR5 Serey Sophorn-Poipet; Construction to begin next month
The Ministry of Public Works and Transport (MPWT) has signed an agreement granting rights to two Japanese companies to build the NR5 Serey Sophorn-Poipet, the 4th package of the whole project on 24 March 2022.
March 25, 2022 | Construction Property | Link: https://bit.ly/3Nik4KN