Duration: 1 hour
EuroCham attended a courtesy meeting with H.E. Say Samal, Minister of Land Management, Urban Planning and Construction on 11 December, with the main objective of strengthening the very good relationship between the Real Estate and Construction (REC) Committee and the ministry. The two sides signed their first MoU together in 2015.
EuroCham Chairman Tassilo Brinzer introduced a brief history of the chamber and described it’s mission of improving the country’s business framework before Executive Director Martin Brisson gave on overview of the 2024 White Book and the newly launched Advocacy Compass.
REC Committee Chairman Michel Cassagnes outlined the REC’s recommendations listed in the White Book and shed light on the committee’s 2024 plans, before H.E. Say Samal took the floor and explained some of his vision for Cambodia in 2024 and beyond.
His Excellency predicted that Cambodia’s population would reach 30 million before it started to decline, adding that living standards could be improved by creating more green spaces in the city, implementing zoning regulations, and constructing walking lanes.
The minister also proposed public housing in the future and said lower interest rates – likely offered by foreign financial institutions – would be the key to improving living standards. His Excellency also said closing the gap between the cities and the provinces was a priority, including building a job ecosystem that allow citizens to work closer to their homes.
Mr. Cassagnes and REC Committee Vice-Chairman Serge Park both offered to collaborate on public housing projects, with the minister maintaining that the biggest piece of the puzzle was finding a way to offer mortgages with reasonable rates. Addressing the state of sector, REC Committee Vice-Chairman Lawrence Lennon said his biggest request was controlling the new supply coming into the market over the next few years to allow time for some of the current oversupply to be absorbed.