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The Ministry of Mines and Energy has issued more than 100 licences for sand businesses in Koh Kong province and elsewhere in the Kingdom. TOURISM MINISTRY
KNPG Investment gets Koh Kong sand-mining licence
Mon, 17 May 2021
KNPG Investment Co Ltd obtained a licence to mine silica sand in Koh Kong province s southwest, at a site previously operated by Sibelco (Cambodia) Co Ltd.
Deputy provincial governor Ouk Pheaktra led a virtual meeting on May 13 to discuss with company representatives the results of KNPG Investment s full environmental and social impact assessment process for the project in Kiri Sakor district s Prek Khsach commune.
He told The Post that there wouldn t be much of a project-related impact, noting that the site is an existing venture.
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Sustainability disclosure database for local firms launched
Wed, 12 May 2021
Cambodia, with support from the World Economic Forum (WEF), on May 12 launched the Supplier Database with Sustainability Dimensions (SD2) database, the first of its kind, to provide information on the sustainability operations of domestic companies.
SD2 will serve as a key platform linking international and domestic firms that invest in the Kingdom or are seeking new partnerships.
An in-person and virtual ceremony was hosted by the Council for the Development of Cambodia (CDC) and WEF to commemorate the launch, which CDC noted will be especially advantageous for domestic suppliers that can provide quality goods and services.
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Forex reserves surge to $21.3B at end-2020
Sun, 9 May 2021
The narrower current account deficit and continued capital inflows from foreign direct investment (FDI) and other sources supported a continued increase in gross foreign-exchange (forex) reserves, which rose to $21.3 billion at the end of last year from $18.8 billion at end-2019, the Asian Development Outlook (ADO) report issued last week said.
The report noted that the economy is forecast to expand by 4.0 per cent in 2021 and 5.5 per cent in 2022. The economic recovery in major trading partners will support strong demand for Cambodia s merchandise exports and continued FDI inflows.
Industrial production is expected to grow strongly, expanding by 7.1 per cent in 2021 and 7.0 per cent in 2022 on the back of a rebound in the garments, footwear and travel goods sector and growth in light manufacturing, it said.
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$50M hotel set for Sihanoukville
Thu, 6 May 2021
The Preah Sihanouk provincial authority and private sector has welcomed a $48.7 million investment in a new five-star hotel, which observers note will better equip the province to serve tourist arrivals in the years to come.
The Council for the Development of Cambodia (CDC) on May 5 gave JinBei Palace Co Ltd the nod for its 195-room venture in Sihanoukville s Commune IV.
Provincial Department of Tourism director Taing Sochet Kresna welcomed the project, saying that the tourism situation in Preah Sihanouk will improve significantly after Covid-19 has been brought under control, and further benefited by what he said are the often thoroughly-researched locations of investment projects.