Cambodia: Ministry of land calls for construction investment boost

Phnom Penh’s growing skyline. KT/Mom Sophon

The Ministry of Land Management urged foreign investors to increase investment in Cambodia’s real estate sector to take advantage of the country’s healthy economic progress which has sparked real sector growth altogether.

Minister Chea Sophara said during the seventh Cambodia Constructor Association (CCA) Summit and the Fifth Cambodia Construction Industry Expo that the construction sector is one of the four pillars – along with garment, tourism and agriculture – that drives economic growth.

“Through the summit and the expo, I hope the local and foreign businesspeople will take the opportunity to enhance cooperation and increase their partnership. I would like to call on foreign investors to put more money in the market or become development partners with locals to benefit from the great potential the sector offers,” he said.

Investment in the construction sector stood at $4.9 billion in the first ten months of this year, according to figures from the ministry, which also showed investment in 2016 increased by 68 percent, or $5.04 billion, compared to 2015.