via CAAI
November, 29 2010
HCM CITY — Z 38, a member of the Association of Vietnamese Enterprises in Cambodia, is speeding up construction so that the first Viet Nam supermarket in Cambodia can be opened by the end of this year.
Located on 3,300sq.m at 717-719 Monivong Street in Phnom Penh, the Viet Nam Supermart aimed to promote Vietnamese goods in the Cambodian market, said Seng Meng, chairman of the Z 38's management board.
There was no place in Cambodia to showcase and introduce Vietnamese goods favoured by Cambodian customers, said Meng.
"This new market will help satisfy the Vietnamese enterprises' demand for display and selling Vietnamese goods at a low cost," said Meng.
With an investment of over US$3 million, the supermarket is scheduled to open on December 29.
He said the supermarket would sell high-quality goods, targeting Cambodian customers from both medium – and high-income families.
The Association of Vietnamese Enterprises in Cambodia said the countries' commercial relations had been promoted via a 1,000km border with 10 international border gates between Cambodia and Viet Nam.
In the first nine months of 2010, two-way trade between Cambodia and Viet Nam amounted to $1.29 billion, a year-on-year increase of 36.2 per cent.
In the same period, Viet Nam's exports to Cambodia reached nearly $1.1 billion, up by 34.4 per cent compared with last year.
At the meeting for the development of Viet Nam-Cambodia cross-border trade in Phnom Penh in late 2009, Government agencies and businesses from the two countries re-affirmed their efforts to promote investment and business between Viet Nam and Cambodia. — VNS
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