PHNOM PENH (The Phnom Penh Post/ANN): The global health crisis caused by the Covid-19 outbreak has dragged down investment in the Cambodian construction sector, which had shown positive signs for several years in a row.
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Just $7.8 billion in new construction projects were approved in 2020, down 32.1 per cent on a yearly basis. Hean Rangsey
Investment in construction crumbles under pandemic
Wed, 2 June 2021
The global health crisis caused by the Covid-19 outbreak has dragged down investment in the Cambodian construction sector, which had shown positive signs for several years in a row.
Last year, the Ministry of Land Management, Urban Planning and Construction approved just $7.8 billion in new construction projects – down by 32.1 per cent from $11.4 billion in 2019, covering 17 million square metres, down by 26.9 per cent, the National Bank of Cambodia’s said in its latest
Financial Stability Review 2020 (FSR 2020) released on May 31.
Cambodia’s steel and cement imports were worth $469.88 million last year, eroded by 28.66 per cent from $658.71 million in 2019, as the Covid-19 crisis put a halt to many construction projects, slowing activity to a crawl.
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