Property News Roundup September 19th, 2022
We’re delighted to share the weekly news highlights below.
- Kingdom received almost one million international visitors ⛷📸
Nearly 1 million international tourists visited Cambodia within 8 months, and it is expected to receive between 1.5 and 2 million international visitors by the end of the year.
September 12, 2022 | Phnom Penh Post | Link: https://bit.ly/3BxLTLh
- Aging population ‘21 percent’ by 50 👴🔺
In 2015, the number of elderly people in Cambodia aged 60 and over was at 1.3 million or about 8.3 per cent of the total population, and this number will rise to 11 per cent by 2030 and to 21 per cent by 2050.
September 12, 2022 | Phnom Penh Post | Link: https://bit.ly/3xeyrt6
- Gov’t to amend PP & SHV airports management contracts 📝🛬
The Cambodian government has set up a new inter-ministerial committee to review and study all existing concession agreements between the government and SCA as well as CAIC. The main change is to end the contract with SCA and create a new contract with AIAI.
September 12, 2022 | Construction Property | Link: https://bit.ly/3DgZPdS
- Generating ‘trust’ for investors 📄👩💼
The aim of the government is to create a fully developed trust market in the country which can liberally attract foreign investment. Currently, nearly 500 trust companies have queued up for registration with over $300 million funds in their hands.
September 13, 2022 | Khmer Times | Link: https://bit.ly/3S0WX99
- The Cambodian government supports the establishment of the Green Economic or Investment Zone
The Cambodian government has supported the establishment of the Green Economic or Investment Zone in the ASEAN bloc and Cambodia proposes to host the zone. It would allow the region to gradually transit into a community with sustainability, effective use of resources, and resilience.
September 13, 2022 | Construction Property | Link: https://bit.ly/3BEAmde
- Chip Mong 271 Mega Mall opens today 🛍🛒
Chip Mong 271 Mega Mall, home of the world’s famous brands, opened its door to the public from 12 September onwards with over 30 renowned brands are already opened to welcome all customers.
September 13, 2022 | Construction Property | Link: https://bit.ly/3QFpmR5
- Railway project studies proceed 🚄📚
The transport ministry is exploring options to expedite feasibility studies on modernising and upgrading the Phnom Penh-Poipet and Phnom Penh-Sihanoukville lines – also known as the Northern and Southern Railway Lines – to high-speed rail.
September 14, 2022 | Phnom Penh Post | Link: https://bit.ly/3DmiZz6
- Run Ta Ek Village to become Siem Reap satellite city 🌆🎉
The government issued an order on Friday for the Siem Reap provincial administration and other relevant authorities to convert Ta Ek area into Run Ta Ek Natural Village which will be incorporated into Siem Reap as a satellite city.
September 14, 2022 | Khmer Times | Link: https://bit.ly/3qC644s
- Phnom Penh-Bavet expressway MoU signed
A memorandum of understanding to begin the cooperation to build an expressway linking Phnom Penh to Bavet, the border of Cambodia and Vietnam, was signed. This expressway will connect Bavet to Ho Chi Minh City, and ASEAN Highway numbers 1, 11, and 123 linking Cambodia to Thailand, Laos and Vietnam are being enlarged to four lanes and /or upgraded.
September 14, 2022 | Khmer Times | Link: https://bit.ly/3qCl0Q1
- H2 inflation to fall below 5%: NBC Boss 📉📊
Average year-on-year inflation for the second half (H2) of 2022 will fall below five per cent, on the back of improvements in economic activity, as gross domestic product (GDP) grows around five per cent over the period.
September 15, 2022 | Phnom Penh Post | Link: https://bit.ly/3xoksB2
- Netizens calling for wages of over $200 💵📈
At the third meeting of the NMWC on August 31, the representatives of employees reduced their figure from $215 to $213, and employers’ representatives increased theirs from $194 to $196, while the NMWC figure for negotiation was $197.86.
September 15, 2022 | Phnom Penh Post | Link: https://bit.ly/3ddZ0b8
- New Siem Reap International Airport 40 percent Completed by September ✈️🛠
Construction of the new Siem Reap Angkor International Airport has been 40% completed by September, while the developer is aiming for 70% completion by the end of 2022.
September 15, 2022 | Construction Property | Link: https://bit.ly/3Dr1EVD
- Renewable energy accounts for 40% of Cambodia’s total energy mix
Renewable energy in Cambodia, which is mainly sourced from hydropower, solar energy, and biomass energy, accounted for 40% percent of the kingdom’s total energy mix in 2021.
September 16, 2022 | Construction Property | Link: https://bit.ly/3djDphC
- MPWT Officially Launches Cambodia’s Third EV Charging Station in Siem Reap
A new EV charging station in Siem Reap was officially launched on 14 September. As of September, the ministry has put into operation three EV charging stations nationwide, at the ministry office, Sihanoukville, and Siem Reap.
September 16, 2022 | Construction Property | Link: https://bit.ly/3eP0rxf