AKP Phnom Penh, April 16, 2021 --

Cambodia registered US$7,753 million approved construction projects in 2020, a year-on-year decrease of 32 percent.

The figures were shared recently by the Ministry of Economy and Finance, adding that the approved projects last year covered a total land area of 17 million square metre, down 27 percent compared to the previous year.

The ministry, however, forecasted that the construction sector would grow by 9 percent and 7.8 percent in 2021 and 2022, respectively.

The growth will be supported by the influx of foreign investment projects and recovery of the country’s economy.

Data from Ministry of Commerce, construction materials imported in 2020 were valued at US$1,008 million, a year-on-year drop of 7.3 percent, while steel and cement imports saw a decline of 27 percent and 48 percent to US$403 million and US$66 million, respectively.

By Chea Vannak