Construction Sector Investment Drops 14% in 2018

PHNOM PENH, Oct. 18 (Xinhua) — Cambodia’s construction sector attracted a total investment of 4.82 billion U.S. dollars in the first nine months of this year, down 14 percent over the same period last year, according to the latest report on Thursday.

Released by the Ministry of Land Management, Urban Planning and Construction, the report said the ministry had granted licenses to 2,541 construction projects on a total area of nearly 10.8 million square meters during the January-September period this year.

It said currently, there are 228 locations of new towns and residential complexes in the capital Phnom Penh and the Southeast Asian nation has 1,088 high-rise buildings (between five and 54 floors).

Some 1,070 construction and home design companies are operating in the kingdom, generating about 220,000 jobs, it added.

“Based on this nine-month figure, the construction is still a sector contributing actively to socio-economic development,” the report said.

Construction is one of the four main pillars supporting the Cambodian economy.

According to government figures, the construction industry accounted for about 29 percent of the country’s 22-billion-U.S. dollar gross domestic product (GDP) last year, as garment sector represented more than 30 percent, agriculture about 25 percent and tourism roughly 13 percent.

Leave a Reply

Your email address will not be published. Required fields are marked *