Logo of Phnom Penh Post newspaper Phnom Penh Post - Industrial construction increases 123 per cent in the first quarter of 2013

Industrial construction increases 123 per cent in the first quarter of 2013

Im Chhun Lim (front chair), Minister of MLMUPC.
Im Chhun Lim (front chair), Minister of MLMUPC. Moeun Nhean

Industrial construction increases 123 per cent in the first quarter of 2013

Im Chhun Lim, the Minister for Land Management and Urban Planning and Construction (MLMUPC), declared in his speech at the launch of CamBuild 2013 at Koh Pich exhibition center: “I would like to state that construction is a fundamental and significant physical economic sector for the contribution of the national economic growth.

“Specifically in the year 2012, the investment made in the building construction sector from national and international developers amounted to around over US$2 billion compared to the year 2011, which had increased around 71 per cent,” he added.

“Nevertheless, in the first quarter of the year 2013, the Ministry of Land Management, Urban Planning and Construction has observed that the investment in the construction sector has continued to grow by about 123 per cent compared to the same period in the year 2012.

“It is noticed that until today, there are 571 construction companies registered with the ministry with valid registration, all of which are also actively cooperating with domestic and foreign investors in the industrial sector.”

Consultant agent of Wealth Realty estate and land firm Teng Rithy said that some foreign investors are waiting for Cambodia to form a new government and then they will come to invest in Cambodia.

“Foreign investors are looking at the potential in Cambodia with such high growth of the nation’s economy from year to year, cheap land, most of the human resources are youth but the salaries are low.

“So these factors are key points to being successful in business,” said Rithy. “I believe that after Cambodia forms a new government, our land and real estate sector will be better.”

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