The occupancy rate of office space in the capital dipped by 1.2 percentage points to 66.9 per cent in the first quarter of 2022, compared to the fourth quarter of last year, as three new projects were launched and Covid-19 uncertainty persisted, according to Chin Chandaluch, a representative of real estate company CBRE Cambodia. Chandaluch, manager of Valuation and Advisory Services at CBRE Cambodia, told The Post on April 6 that the three projects totalled “more than 30,000sqm” in gross leasable area. In a press release obtained by The Post on April 6, CBRE Cambodia said the three rental office…
Author: Hin Pisei
Cambodia’s footwear industry exports generated $1.3 billion in revenue in 2021, a more than 20 per cent increase compared to the same period in 2020, according to the Cambodia Footwear Association (CFA) president, with sector growth in 2022 projected to regain pre-pandemic momentum. CFA president Ly Kunthai told The Post on April 5 that the increase was due to various factors both domestic and international, namely the reduced concerns about the severity of the Omicron variant of the novel coronavirus, increased vaccination rates, reopening of countries, income stabilisation and the gradual recovering of tourism sector. He said that in 2021,…
The head of Cambodia’s apex trade body on April 1 asked Australia to provide technical assistance in agriculture and encourage additional investment in the Kingdom, with an eye to strengthening business, investment and economic relations between the two countries. Cambodia Chamber of Commerce (CCC) president Kith Meng made the appeal at a meeting with Australian ambassador Pablo Kang and Rebecca Ball, Australian Senior Trade Commissioner for Cambodia and Vietnam. Meng highlighted that the two countries have maintained 70 years of official diplomatic relations – established on January 15, 1952 – and said Australia plays an important role in boosting Cambodia’s…
The Council for the Development of Cambodia (CDC) has in the first three months of this year announced its approval of final registration certificates for 41 projects with total capital investment of more than $2.39 billion that are expected to create 40,147 jobs. The 25 project approvals announced in January made up the vast majority of that value, with total registered capital of nearly $2.3 billion, according to CDC figures. The bulk of that came from Kampot Logistics and Port Co Ltd’s $1.300 billion multi-purpose port with a logistics centre, in Kampot province’s Bokor town. However, just four project approvals…
Cambodia exported over 3.4 million tonnes of agricultural products to international markets in the first quarter of 2022 – an 11 per cent increase in volume from the same period a year ago, according to figures from the Ministry of Agriculture, Forestry and Fisheries. Data from the ministry’s General Directorate of Agriculture reveal that Cambodia exported a total of 3,434,070 tonnes of agricultural products to 57 countries and territories, an increase of more than 344,860 tonnes, or 11.16 per cent year-on-year. The estimated value of exports was $1.268 billion. Major agricultural exports include milled and paddy rice, cassava chips, fresh…
The General Department of Taxation (GDT) on March 30 set a new record for single-day revenue collection of $236 million, Prime Minister Hun Sen has announced. Tax revenue in the first quarter of 2022 reached $1.2 billion, exceeding the $1.032 billion netted over the same period in 2021. Presiding over the inauguration of the Chaom Chao interchange the day after, Hun Sen said March 30 made him “very happy” because of the record-setting figure, which brings the total tax revenue for the month of March to $620 million. Figures from the GDT reveal it collected $288 million in January and…
Cement production in the Kingdom reached 1,524,248 tonnes in the first two months of this year, up by 2.08 per cent from the 1,493,212 tonnes logged in January-February 2021, according to the Cambodia Cement Manufacturing Association (CCMA). Kampot Cement Co Ltd (SCG-K CEM) was the largest producer of the Kingdom’s five cement plants at 420,736 tonnes, followed by Battambang Conch Cement Co Ltd (Conch; 349,500 tonnes), Chip Mong Insee Cement Corp (CMIC; 341,388 tonnes), Cambodia Cement Chakrey Ting Factory Co Ltd (Huaxin; 217,656 tonnes) and Thai Boon Roong Cement Co Ltd (194,968 tonnes). CCMA secretary-general Puth Chandarith told The Post…
Prime Minister Hun Sen has called on Chinese tech giant Huawei to continue to cooperate with the Ministry of Post and Telecommunications on training the local workforce and help Cambodia procure the latest technology to ensure cyber security and competition. Hun Sen made the remarks during a working meeting with Lin Baifeng, Huawei’s Asia-Pacific chief, at the Peace Palace last week, said a statement posted to the premier’s official Facebook page. Lin said that over the more than 23 years that Huawei has been present in Cambodia, the use of information technology (IT) in the Kingdom has progressed rapidly, especially…
Leaders and businesspeople from the Malaysian state of Malacca have vowed to promote investment among compatriots in four target Cambodian sectors – education and vocational training; real estate; mining; and energy, according to the Council for the Development of Cambodia (CDC). The pledge was made during a working meeting on March 24 between Malacca governor Mohd Ali Rustam and CDC deputy secretary-general Nut Un Voanra, also attended by Malaysian ambassador Eldeen Husaini Mohd Hashim, the CDC said in a statement later that day. The governor commented on how conducive Cambodia’s new Law on Investment – which came into effect on…
Cambodia netted more than $77 million from rubber latex and wood exports in the first two months of 2022, according to data released by the Ministry of Agriculture, Forestry and Fishery’s General Directorate of Rubber. The directorate said the total export of rubber latex in January-February was 48,509 tonnes, raking in $76.88 million. The average price of rubber during this period was $1,585 per tonnes, indicating a minor decrease over the same period last year. During the same period, 808 cubic metres of rubber wood worth $355,946 was exported, an increase of 66 per cent by volume. Directorate chief Him…