Logo of Phnom Penh Post newspaper Phnom Penh Post - Modest growth for building material imports

Modest growth for building material imports

Content image - Phnom Penh Post
Construction projects are shown on Phnom Penh’s Koh Pich Island. Heng Chivoan

Modest growth for building material imports

The Kingdom spent some $502 million to import raw materials for use in the construction sector in the first half of the year. This is a six per cent increase over the same period last year, a National Bank of Cambodia (NBC) report said.

While the growth is modest, an industry insider said it still reflects stable development in the industry.

Cambodia Constructors Association secretary Chiv Sivpheng projects construction activity to see a bigger boom in the second half of the year, which would cause a boost in the demand for materials.

While the majority of materials used in the sector are imported, Sivpheng said there is an increasing number of local suppliers for products such as cement and bricks.

“As the construction sector and demand of materials grow, more local investors will set up production and make products for the sector and we will rely less on imports,” he said.

Despite giving data on the volume of imported construction materials, the NBC report didn’t give a breakdown of the product types.

The Ministry of Land Management, Urban Planning and Construction approved 1,643 construction projects in the first half of this year occupying a total area of 5.3 million square metres. The estimated value of the approved projects could reach about $2.1 billion.

Roongrote Rangsiyopash, president and CEO of SCG, the parent company of Kampot Cement, said that the Kingdom’s construction sector was showing continuous growth as commercial and residential buildings in cities keep being built.

SCG reported sales revenue of $202 million in the first half of this year, an increase of 19 per cent over the same period last year.

MOST VIEWED

  • School reopening to be postponed until November

    Minister of Education Hang Chuon Naron on Tuesday wrote to Prime Minister Hun Sen requesting a delay of school reopening across the Kingdom until November, when the new academic year begins. In his letter, Chuon Naron said the postponement is warranted to avoid the new

  • Foreigners in Kingdom must now register in FPCS system

    The Ministry of Interior’s General Department of Immigration (GDI) announced that it would not grant visa extensions to foreigners staying in Cambodia if their names are not listed on the Foreigners Present in Cambodia System (FPCS) by July 1. Foreign nationals can register in the

  • Covid-19 at ‘alarming rate’, health ministry says

    The Covid-19 risk level for individual transmission is at an “alarming rate” in the Kingdom and its probability is “not low”, warned Health Ministry spokesperson Or Vandine. “Cambodia’s coronavirus scenario is classified as being at an early stage of the pandemic because of ongoing

  • Mandatory quarantine for 30,000 workers begins

    Some of the roughly 30,000 workers from factories and enterprises across the Kingdom who went on leave during Khmer New Year began their government-imposed 14-day quarantine on Monday. Speaking at a press conference while visiting workers at the Phnom Penh Special Economic Zone on Monday, Ministry

  • Unemployed to get $40 per month

    The Ministry of Labour and Vocational Training has instructed enterprises, business owners and travel agencies in five provinces to prepare the proper forms for the suspension of employment contracts. This, it said, will make it easier for the ministry to transfer $40 a month to workers

  • Gov’t travel ban flouted

    While the majority of Cambodians have paid heed to Prime Minister Hun Sen’s order to stay put and not travel during the Khmer New Year – the holidays of which were also postponed – several hundred have left Phnom Penh nonetheless. They have allegedly breached provincial

  • G20 energy ministers struggle to finalise oil output cuts

    Top oil producers struggled to finalise production cuts during a virtual summit held by Group of 20 (G20) energy ministers on Friday, despite US President Donald Trump’s mediation efforts to end a standoff with Mexico. The final G20 communique appeared to gloss over simmering divisions

  • Kingdom revises travel restriction order

    The government on Friday eased the district and provincial border restrictions issued on Thursday. People are now allowed to cross districts within their provinces. Phnom Penh and Kandal province are to be treated as a single region where people are allowed to travel freely. In

  • Private schools struggling

    The Cambodian Higher Education Association has claimed that 113 private educational establishments are facing bankruptcy because of their inability to pay rent and staff salaries in light of nationwide school closures caused by the Covid-19 outbreak. It said the financial trouble started when the Ministry of