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January 31, 2013

Cambodias construction sector gets US$ 2.1-B investment in 2012 Reply

by RizwanHabib Cambodia News Tags: Cambodia, commercial buildings, construction, construction projects, foreign investment, foreign investment projects, garments, hotels, Lao Tip Seiha, Ministry of Land Management, Phnom Penh, political stability, real estate, rice mills, Shopping malls, tourism sector, urban planning

These are the priority factors to build confidence among both local and foreign investors Reposted from Live Trading News The construction sector in Cambodia attracted the investment projects of about US$2.1-B last year, a 72% rise compared with some US$1.2-B in Y 2011, according to a report from the Ministry of Land Management, Urban Planning and Construction Friday. The report said that last year, the ministry provided licenses to 1,694 construction projects, down 20% from 2,125 projects in a year earlier. Lao Tip Seiha, deputy director-general of the ministrys construction general-department, said that the projects in Y 2012 were bigger in scale than those in Y 2011, adding that those projects are in shopping malls, tourism resort development, commercial buildings, hotels, condominiums, rice mills and garment and footwear factories. The remarkable rise last year is thanks to stable economic situation and full security and political stability, he said. These are the priority factors to build confidence among both local and foreign investors. Construction is one of the four pillars supporting the economy. Top 10 countries and regions investing in the Cambodias real estate and construction are South Korea, China, Britain, Thailand, Russia, Japan, Malaysia, Chinas Taiwan, India and Vietnam. Photo Credit: Google Images