Cambodian Economy Reviews

According to a statement from the Council of Ministers, Cambodia’s prime minister Hun Sen asked the Ministry of Land and Management and Justices to speed up the completion of a draft law on foreign ownership of property who would allow them to buy their own property above the ground floor.
“Hun Sen has recommended that the [...]

WHILE most banks remain reluctant to provide real estate loans to customers amid the global financial downturn, a new microfinance institution set to launch June 8 says it will channel lending to house purchases and construction.
“For the first time, home financing will be available to middle- and lower-income Cambodians,” Talmage Payne, CEO of newcomer First [...]

On Wednesday, May 27, 2009, the National Assembly passed unanimously the draft law on financial lease that is allow banks to issue leases for equipment, machinery and vehicles to business and enterprises in the wake of the global financial crisis. This law does not apply to land or real estate.
Chea Chanto, governor of the National [...]

Despite the global financial crisis, Vattanac Bank extended its operation by opening the third branch on Monday near Olymic stadium in Phnom Penh. The bank received its banking license from the National Bank of Cambodia on June 07, 2002 and commenced operations on November 08, 2002.
Vattanak bank which operated since 2002 with a $13 [...]