The Post has been on the forefront of covering stories from the world of Cambodian real estate and construction, sectors that have grown at a brisk pace of growth over the past two decades, especially in the capital and coastal Preah Sihanouk province, thanks to the rapidly-expanding economy and hard-won gains in political stability. According to the Ministry of Land Management, Urban Planning and Construction, the government has authorised more than 57,000 construction projects nationwide in the last two decades, with total investment in excess of $66 billion. The real estate and construction sectors employ an average of 150,000 people…
Author: Hin Pisei
Rents and demand for serviced apartments in Phnom Penh are back on the up, buoyed by the reopening of the country in early November and general improvement in the Covid-19 situation, according to a prominent real estate company. CBRE Cambodia, the local affiliate of US commercial real estate services and investment firm CBRE Group Inc, said in its latest report that the average monthly rent for top-quality “Grade A” apartments was $10-30 per square metre during the second quarter of this year, up by 2.4 per cent year-on-year on the whole. In the “Grade B” category, apartments went for $7-22…
Cambodia welcomed 217,038 visitors from Southeast Asia from January to May of 2022, signifying a 282 per cent jump year-on-year, the Ministry of Tourism said, while noting that nearly 50 per cent of the figure arrived from Vietnam. Accordingly, the figures – which cover the ASEAN countries plus East Timor – showed that Thais followed Vietnamese (106,628) with 68,887 people. Indonesian (16,861) and Malaysians (10,830) came in at the third and fourth places, respectively. Rounding out the list of source markets for travellers to Cambodia were Singapore (5,737), the Philippines (5,260), Myanmar (1,655), Laos (1,010), Brunei (97) and East Timor…
The tourism ministry on July 4 unveiled an action plan focused around four key visions for the implementation of the recently-launched Mondulkiri Tourism Development Master Plan (“MTDMP”) 2021-2035, at an event in the northeastern province. The first vision entails turning Mondulkiri into an international eco-tourism destination and a major domestic supplier – and eventual exporter – of flowers, vegetables, fruits and meat, Chuk Chumno, head of the secretariat of the Steering Committee of the MTDMP’s (“SCMTDMP”), the team behind the action plan, told the event. The second involves raising the annual number of national and foreign visitors to the province…
The prices of red corn have risen significantly in provinces along the Thai border as the year’s first harvest season kicks off, while Chinese investors look into exporting the pumpkin-hued cultivar to China, according to the top Battambang provincial commerce official. Typically processed as animal feed, red corn is harvested twice a year: once between late June and August, and again from late October to February of the following year. Battambang provincial Department of Commerce director Kim Hout told The Post that traders were buying fresh red corn on the cob from growers at an average of 730 riel ($0.18)…
The lending rules and procedures of the recently-launched $150 million Tourism Recovery Co-Financing Scheme (TRCS) were officially established on July 1, in a move to boost recovery in the Covid-hammered industry, according to a tourism ministry letter issued on the same day. The TRCS was rolled out on May 17 to provide a lifeline for businesses involved in the tourism value chain that are deemed to have been significantly impacted by the Covid-19 crisis, and is currently implemented with the support of 19 participating financial institutions (PFI). The scheme was financed by a counterpart fund between the government and financial…
Cambodia spent $971.30 million on imports of petrol and diesel in the first five months of this year, up by 57.36 per cent from the $617.24 million shipped in during the corresponding period in 2021, according to the commerce ministry. Petrol imports were $341.94 million, up by 103.11 per cent year-on-year from $168.35 million, while diesel accounted for $629.36 million, rising by 40.20 per cent from $448.89 million. International oil prices have soared by more than 40 per cent from the beginning of the year. As Cambodia no longer produces crude oil and relies solely on imports, fuel rates must…
Over the past two to three years, the government, through the Ministry of Agriculture, Forestry and Fisheries, has launched a series of new strategies to enhance the aquaculture sector’s capacity to meet domestic demand, leading to exports. But despite such initiatives, domestic fish farming in general does not currently appear to be showing positive signs, according to aquaculture sector actors. In order to encourage fish raising, Prime Minister Hun Sen, during a visit to the Fish Breeding Research and Development Centre in Peamro district of western Prey Veng province in July 2020, told Minister of Economy and Finance Aun Pornmoniroth…
China’s Silk Road E-commerce plan will be a considerable driver of Sino-Cambodian trade and attract Chinese investment to the Kingdom, according to officials, businessmen and economists. Cambodia and eastern China’s Jiangsu province launched the plan at the “Silk Road E-commerce Forum” on June 26. Delivering the event’s opening remarks via video link, Ministry of Commerce secretary of state Sok Sopheak stated that Cambodia and China are “good” trading partners in bilateral, regional and global spheres, with bilateral trade increasing every year. Trade between the two countries grew from $5.8 billion in 2017 to more than $8 billion in 2020, despite…
Cambodia’s peppercorn output this year could rise by around one-tenth over 2021, industry insiders have reported, as the harvest season reaches more than 90 per cent completion. Each year, the fruit of the Piper nigrum, a flowering vine considered to be native to the southwestern Indian coast, is typically harvested exclusively by hand between January and June, and generally wraps up when the southwest monsoon brings the rainy season from mid-May. Among the varieties cultivated in the Kingdom, Kampot pepper is the most highly-prized, grown in the namesake coastal province, and remains the sole cultivar protected under national geographical indication…