Cambodian Cement Production Remains Stable in 2023, Anticipates Growth Amid Economic Projections
The Cambodian Cement Manufacturing Association reported that domestic cement production in 2023 remained unchanged from the previous year.
Cambodia's domestic cement production held steady in 2023, with five local cement factories collectively producing a volume similar to that of 2022.
The Cambodian Cement Manufacturing Association's secretary-general, Puth Chandarith, stated that while production and sales slightly decreased in 2023 compared to the previous year, the sector is poised for growth in the near future, aligning with the country's projected economic expansion of over 6 percent in 2024.
The full annual production capacity of the five factories is 9 million tonnes, with the 2023 production reaching about 8 million tonnes.The country's construction sector, a key driver for cement demand, saw a decrease in investment projects in 2023, with a 19.7 percent drop in approved construction projects during the January-October period.
Despite the presence of local cement factories, Cambodia imported nearly $20 million worth of cement in 2023, reflecting a 21 percent decrease from the previous year. The country also imported $1,330 million worth of building materials in 2023, indicating a slight increase of 0.3 percent from 2022.The cement industry's optimism for future growth is underpinned by the anticipation of new investment projects, including construction initiatives, as the economy is expected to expand.
This outlook aligns with the country's efforts to bolster its construction industry, despite the challenges posed by the global economic landscape and the construction sector's environmental impact.
Source: Khmer Times
