Property News Roundup November 21st, 2022
We’re delighted to share the weekly news highlights below.
- Cambodia approves US$ 3.5 billion investment projects in 10 months
The Council for the Development of Cambodia (CDC) has approved 161 investment projects with a total investment of US$3.5 billion in the first 10 months of 2022.
11 November 2022| Construction & Property | Link: https://bit.ly/3tsI6Kw
- Japan provides over $50 million for four projects
The Japanese government On November 12 provided $51.3 million to Cambodia for the implementation of four major projects include the construction of a training and education building on war awareness of the Cambodian Mine Action Centre (CMAC), socio-economic development program, improving the management of contaminated medical waste and expansion of the water supply system.
12 November 2022| The Phnom Penh Post | Link: https://bit.ly/3EqQAYS
- China vows to speed up 2,000 km submarine fibre optic cable project from Hong Kong to Sihanoukville
China has promised to speed up the submarine fibre optic cable project from Hong Kong to Sihanoukville to accelerate major projects such as the Sihanoukville-Hong Kong submarine fibre optic network project, and the Angkor Siem Reap International Airport projects and support infrastructure projects such as roads, bridges, logistics and warehousing.
14 November 2022| Construction & Property | Link: https://bit.ly/3X37Zhn
- China announces new ASEAN Belt & Road Initiative projects centered around Cambodia
China will invest a $1.6 billion expressway to be built from Phnom Penh to Bavet, at the Cambodian-Vietnamese border, and financial support for a rail link between Phnom Penh, Bangkok, and Vientiane, Laos, from which a high-speed rail link has already been constructed into China.
15 November 2022| Khmer Times | Link: https://bit.ly/3GiftHw
- Fresh calls to enlist in agri electricity-subsidy scheme
The agriculture minister reiterated a call for eligible farmers and agricultural players to apply for subsidised electricity from state-run utility Electricite du Cambodge (EdC) to reduce costs associated with the accepted operations.
14 November 2022 | The Phnom Penh Post | Link: https://bit.ly/3UTl8rA
- Cambodia Gov’t Requests US$60m loan from Japan to build new deep-sea port Phase
Cambodia has proposed to the Japanese side to consider an additional loan of 60 million US dollars to expand the first phase of Sihanoukville Autonomous Port to a depth of 14.5 meters due to the depreciation of the yen, which makes the project budget short.
15 November 2022 | Construction & Property | Link: https://bit.ly/3TEacgC
- Agri ministry launches Seal of Quality Scheme
A senior agriculture official has suggested that the Fisheries Administration’s development partners, especially the private sector, focus on the quality of fisheries products to ensure that they are safe and competitive.
15 November 2022 | The Phnom Penh Post| Link: https://bit.ly/3EAdkpe
- Moody’s sets outlook rating to ‘negative’ for Cambodia
Moody’s Investors Service Inc on November 15 announced that it downgraded Cambodia’s outlook from “stable” to “negative” and maintained its B2 local and foreign currency issuer ratings.
16 November 2022 | The Phnom Penh Post | Link: https://bit.ly/3V4iQ9i
- $4.2m French deal for fishery development
The French National Research Institute for Sustainable Development (IRD) and the Cambodian Ministry of Agriculture, Forestry and Fisheries has signed a $4.2 million EISACAM contract for the development of fish hatcheries in local fish farms and research on ecological intensification in Cambodia.
17 November 2022 | The Phnom Penh Post | Link: https://bit.ly/3Eq8tWt
- National solar park’s 60mW plant being connected to national grid
The partnership between the Asian Development Bank (ADB) and Electricite du Cambodge (EDC) in the construction of a national solar park has reached a milestone, as a 60mW plant will be connected to the national power grid.
16 November 2022 | Khmer Times | Link: https://bit.ly/3hSHR9a
- Rural roads 111 km worth more than US$47m were inaugurated
The symbolic rural road, representing six target provinces, was constructed of 116.64 km of double-deck asphalt (DBST) and 3.41 km of concrete road at a cost of 47,232,784 USD.
16 November 2022 | Construction & Property | Link: https://bit.ly/3GnsjEx
- Kingdom’s rice crowned world’s No1
Cambodia’s Phka Rumduol jasmine variety has been crowned the World’s Best Rice for the fifth time at the TRT (The Rice Trader) World Rice Conference in Phuket, Thailand on November 17, according to leaders of the Kingdom’s apex rice industry body.
17 November 2022 | The Phnom Penh Post | Link: https://bit.ly/3gmxf1D