Cambodia to hold the 10th edition of Cambuild 22-24 October 2020 at Phnom Penh’s Koh Pich Exhibition and Convention Centre

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Cambodia to hold the 10th edition of Cambuild 22-24 October 2020 at Phnom Penh’s Koh Pich Exhibition and Convention Centre

Malaysian-owned international trade shows organiser AMB Tarsus Exhibitions (Cambodia) Pte Ltd will hold the 10th edition of Cambuild in a bid to encourage economic recovery in the Kingdom from the Covid-19 pandemic.

Cambuild ’20, the Kingdom’s largest international building and construction industry exhibition, is scheduled for October 22-24 at the Koh Pich Exhibition and Convention Centre.

AMB Tarsus Exhibitions’ parent company AMB Tarsus Events Group has announced that it will provide an “economic recovery package” (ERP) to assist suppliers to the construction and building sector in their recovery from the health crisis.

Cambuild ’20 project manager Kha Somaly said the initiative will complement government efforts to stimulate economic activity and generate jobs.

She said: “I hope companies will take advantage of this ERP to increase sales as the economy improves.

“Cambuild ’20 will also support the hospitality industry as over 1,000 overseas participants from China, Taiwan, Malaysia, Singapore, Thailand and Vietnam are planning to attend.”

Capital investment in the Kingdom’s construction sector chalked up a striking 13.3 per cent growth rate to reach more than $3.84 billion for the first half of this year, data from the Ministry of Land Management, Urban Planning and Construction show.

The Ministry of Economy and Finance on Sunday submitted a letter to Prime Minister Hun Sen asking him to revise the requirements for international arrivals to the Kingdom in a move to shore up the economy.

Foreign travellers, including investors, business people, company staff, traders, skilled workers and families are required to buy a 20-day insurance policy for $90 while still making a $3,000 deposit, it said.

Capital investment in the construction sector climbed 13.26 per cent year-on-year to more than $3.84 billion in the first half of this year, reported the land ministry.

It said it received 2,522 applications for construction projects during the period, up 475 or 23.20 per cent from the 2,047 received in the first half of last year.

Between 2000 and last month, the ministry approved 50,968 construction projects, worth $56,961,393,522, it said in its report.

During the period, 2,830 consultancy services, building design and construction companies registered. But, it said, only 1,241 still hold valid licences.

Between 2005 and last month, there where 1,945 projects at least five storeys tall, of which 114 were 30-39 storeys tall and 46 were over 40 storeys tall.