Search

Search form

Logo of Phnom Penh Post newspaper Phnom Penh Post - Cambodia, Vietnam to build market on border

Cambodia, Vietnam to build market on border

Cambodia, Vietnam to build market on border

The Vietnamese government yesterday agreed in principle to provide a grant of $2 million to Cambodia to build a model market aimed at boosting cross-border trade between the two countries, officials at Cambodia’s Ministry of Commerce said.

The market will be constructed on 1.5 hectares in Kandorl village, in the Memot district of Tbong Khmum province, about 1 kilometre from the nearest Cambodia-Vietnam border crossing, according to Mao Thora, a secretary of state at the ministry.

“The market will be a place to sell both Cambodian and Vietnamese goods, of which I think most of our goods are agricultural products,” he told reporters after the signing of a memorandum of understanding for the project.

“It will play a role to facilitate trade by people living along the market and improve their livelihoods,” he added.

Thora was unable to confirm a construction timeline but said the Vietnamese government would open the project for bids and manage it. Plans are already afoot for a similar market to be built in Kampot province.

Nguyen Cam Tu, deputy minister at Vietnam’s Ministry of Industry and Trade, said the model market will help both countries exploit the full potential of people living alongside the border.

“When people have better connections to sell their goods to each other, it helps them to earn more money,” he said.

Trade between Cambodia and Vietnam slipped this year after steadily increasing since 2010, according to the Vietnamese Embassy in Phnom Penh.

Bilateral trade during the first quarter amounted to $848.7 million, down 11 per cent compared to the same period a year earlier, with Vietnamese exports accounting for 63 per cent of the total.

RECOMMENDED STORIES

  • Breaking: PM says prominent human rights NGO ‘must close’

    Prime Minister Hun Sen has instructed the Interior Ministry to investigate the Cambodian Center for Human Rights (CCHR) and potentially close it “because they follow foreigners”, appearing to link the rights group to the opposition Cambodia National Rescue Party's purported “revolution”. The CNRP - the

  • Rainsy and Sokha ‘would already be dead’: PM

    Prime Minister Hun Sen on Sunday appeared to suggest he would have assassinated opposition leaders Sam Rainsy and Kem Sokha had he known they were promising to “organise a new government” in the aftermath of the disputed 2013 national elections. In a clip from his speech

  • Massive ceremony at Angkor Wat will show ‘Cambodia not in anarchy’: PM

    Government officials, thousands of monks and Prime Minister Hun Sen himself will hold a massive prayer ceremony at Angkor Wat in early December to highlight the Kingdom’s continuing “peace, independence and political stability”, a spectacle observers said was designed to disguise the deterioration of

  • PM tells workers CNRP is to blame for any sanctions

    In a speech to workers yesterday, Prime Minister Hun Sen pinned the blame for any damage inflicted on Cambodia’s garment industry by potential economic sanctions squarely on the opposition party. “You must remember clearly that if the purchase orders are reduced, it is all