Z 38, a member of the Association of Vietnamese Enterprises in Cambodia, is speeding up construction so that the first Vietnam 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 Vietnam Supermart aimed to promote Vietnamese goods in the Cambodian market, said Seng Meng, chairman of the Z 38's management board.
There is 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 3 million USD, 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 hve been promoted via a 1,000km border with 10 international border gates between Cambodia and Vietnam.
In the first nine months of 2010, two-way trade between Cambodia and Vietnam amounted to 1.29 billion USD, a year-on-year increase of 36.2 percent.
In the same period, Vietnam's exports to Cambodia reached nearly 1.1 billion USD, up by 34.4 percent compared with last year.
At the meeting for the development of Vietnam-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 Vietnam and Cambodia./.
