Property News Roundup September 5th, 2022
We’re delighted to share the weekly news highlights below.
- MFIs restructure more than $1.7B in loans
The 121 non-bank members of the Cambodia Microfinance Association (CMA) have provided loan restructuring to 370,000 customers involving over $1.7 billion from early 2020 till late August 2022 in order to reduced payment pressure and helped customers to conduct business as usual.
28 August 2022| The Phnom Penh Post| Link: https://bit.ly/3x2s6Bh
- Rising tourist numbers prodding travel-linked businesses to reopen
Increasing domestic and foreign tourist figures are revitalising the tourism sector where 520 hotels and guesthouses out of a total 739 in Cambodia have reopened as of July 31, after being severely affected by Covid-19 for more than two years.
28 August 2022| The Phnom Penh Post | Link: https://bit.ly/3AWOMVL
- Governor orders repairs to NR2
The governor and other officials were on an inspection tour of a section of National Road 2 in Chak Angre Loeu and Chak Angre Krom commune undergoing repairs.
31 August 2022| Khmer Times |Link: https://bit.ly/3ADXpDr
- Stamp Duty Tax Revenue at US$104m in H1 2022, up 41% Y-o-Y
The government collected a total of approximately US$104 million in stamp duty tax, a 41% increase compared to the same period last year.
30 August 2022| Khmer Times |Link: https://bit.ly/3wKiwTf
- Kingdom all clear to ship corn to China after Beijing authorises first local exporter
The Chinese embassy in Phnom Penh on August 27 affirmed that Customs had given the all-clear for the Cambodian firm to ship corn kernels to China.
30 August 2022| The Phnom Penh Post |Link: https://bit.ly/3czTway
- Government doles out around eight billion riels to clean up cities
The Royal Government spent around eight billion riels (approx. $1,944,106) in a year to clean up 28 cities throughout the country.
31 August 2022| Khmer Times |Link: https://bit.ly/3CNdwky
- PM unveils plans for Phnom Penh to Kandal subway
Prime Minister Hun Sen revealed plans to build a subway linking Phnom Penh to Kandal – supplanting previous ideas for a 2 billion dollar ‘skytrain’.
31 August 2022| Khmer Times |Link: https://bit.ly/3KzZjtd
- PM: 3 new bridges for Phnom Penh
The Royal Government of Cambodia plans to build three more bridges in Phnom Penh which connect Phnom Penh to Svay Chrum, Kdei Takuy to Arey Ksat, and Chak Angre to Prek Pra.
31 August 2022| Khmer Times |Link: https://bit.ly/3wFlJUg
- Elevation of Lvea Em District to city in Kandal province under study
The Royal Government has conducted a study to elevate Lovea Em district of Kandal province to a new city.
31 August 2022| Khmer Times |Link: https://bit.ly/3TwkMqO
- Cambodia to US: Reauthorise GSP
The Ministry of Commerce urges US lawmakers to strongly consider reauthorising the Generalised System of Preferences (GSP) accorded to Cambodia by the US – a trade scheme that lapsed on December 31, 2020 and has yet to be renewed – as the private sector awaits a decision from Congress.
31 August 2022| The Phnom Penh Post |Link: https://bit.ly/3ALNAmZ
- Five Investment Projects Worth US$82.7million Approved for Kandal, Kep, Kampong Thom, and Phnom Penh
The Council for the Development of Cambodia (CDC) has given permission to private firms to invest US$82.7 million in building five factories in Kandal, Kep, Kampong Thom, and Phnom Penh.
01st September 2022| Construction & Property |Link: https://bit.ly/3AJyZbo