Council of Ministers approves much-awaited Construction Law

02 Sep 2019  69 | Business & Trade Fairs

A draft of the much-awaited Construction Law was approved by the Council of Ministers on Friday in a meeting chaired by Prime Minister Hun Sen, with industry insiders saying the law would enhance investor confidence in the industry.

n a statement released after the Council of Ministers meeting, the government said the Construction Law has several objectives: developing the construction and real estate industry effectively, strengthening management in the construction sector, and enhancing safety standards, among others.

The government noted that the accountability and efficiency of construction professionals must be strengthened.

“The draft also aims at enhancing investor confidence in the construction sector and promoting efficiency in the real estate market,” the government said.

It highlighted the role construction plays as a pillar of economic growth in the country.

“During the past ten years, investment in construction has grown steadily and it will keep growing strongly,” the government said.

“Big construction projects, including high-rise buildings, are complex undertakings that require properly implemented regulation, technology, and standard to guarantee their quality,” the government said.

Chiv Sivpheng, general manager of the Cambodia Construction Association, said they strongly support the law.

“On behalf of all players in the construction sectors, we are delighted to see the draft law’s approval. Having a law to regulate the sector will guarantee the safety and quality of construction projects,” he told Khmer Times on Friday.

He said the law will help increase investor confidence and attract more projects to the country.

Chrek Soknim, president of the Cambodian Valuers and Estate Agents Association, echoed a similar sentiment, noting that having the law will aid the sustainable development of the sector.

“Every country must have this kind of law. It is necessary if you want developers to follow international construction standards,” he said.

He said the law is a positive development for the construction and real estate markets and forecast that the sector will continue to grow strongly in the next five years.

As part of its annual publication ‘White Book’ launched in July, the European Chamber of Commerce issued a list of recommendations for the government to support the development of the real estate and construction sectors.

The chamber said that all construction companies operating in Cambodia should be required to have their designated safety officers undergo occupational safety and health training before starting a new project.

Read more...

Recommended Cambodia Tours

Cambodia Day Tours

Cambodia Day Tours

Angkor Temple Tours

Angkor Temple Tours

Cambodia Classic Tours

Cambodia Classic Tours

Promotion Tours

Promotion Tours

Adventure Tours

Adventure Tours

Cycling Tours

Cycling Tours