Estatedia

US$1.2 Billion-Worth Construction Projects Approved In H1

AKP Phnom Penh, August 24, 2022 —

The Ministry of Land Management, Urban Planning and Construction has issued 2,000 construction permits with a total investment value of US$1,206 million in the first half of this year.

The registered construction sites covered a total area of 2.8 million square metres, according to the ministry’s report released at a press conference held here on Wednesday by the Royal Government Spokesperson Unit.

China is the leading investor in construction and real estate sectors in Cambodia, followed by South Korea, Japan, and Thailand, said the ministry’s Secretary of State H.E. Ly Rasmey.

Political stability and social security in Cambodia have made significant progress in the construction sector which has played an important part in the economic development, fulfilling the basic objectives of social development by creating a lot of jobs for the people, he said.

“The construction sector has significantly contributed to the country’s economic development,” he said.

Construction is one of the four pillars supporting the Kingdom’s economy. Three other sectors are garment export, tourism and agriculture.

According to the Ministry of Land Management, Urban Planning and Construction, from 2000 to June 2022, Cambodia had granted licences to 57,590 construction projects across the country with a total investment capital of US$66.2 billion.

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