Logo of Phnom Penh Post newspaper Phnom Penh Post - Vendors say price guidelines boost business

Vendors say price guidelines boost business

Vendors say price guidelines boost business

A PRAKAS issued in June to regulate the price of consumer goods  has boosted trade in Phnom Penh's markets and reduced conflicts in bargaining, say government officials.

Chheav Pha, head of the Market Management and Development Bureau at the Ministry of Commerce, said the government edict, which now requires market vendors across the country to post price lists for their goods, was first enforced in six markets in the capital: Pochentong, Deumkor, Central, O'Russey, Olympic and Chbar Ompov.

"We have seen that almost all traders have complied and buyers have responded positively," Chheav Pha told the Post last week.

Vendors are required to display a list of goods and services in front of their shops, with prices in riel, he said.

Vendors wanting to list goods in US currency must obtain permission from the ministry's Trade Department.

Anyone not complying with the order will be subject to a fine of between 50,000 riels and 500,000 riels (US$12.20 to $122), he said.

"We will try to cooperate with all free markets, post offices and relevant ministries across 24 municipalities and provinces to conduct monthly checks," he said.

Preap Sovann, deputy chief of Chbar Ompov market in Phnom Penh, said about 90 percent of the 1,418 market stall owners have followed the new guidelines, but that some of the vegetable and fruit vendors have not yet posted prices.

Sok Bunreth, a home products seller at Chbar Ompov since 1983, said the new price lists make his business more efficient.

"However, there are still customers who want to bargain," he said.

MOST VIEWED

  • Angkor lifetime pass, special Siem Reap travel offers planned

    The Ministry of Tourism plans to introduce a convenient, single lifetime pass for foreign travellers to visit Angkor Archaeological Park and potentially other areas. The move is designed to stimulate tourism to the culturally rich province of Siem Reap as the start of the “Visit

  • Pailin longan winery tries to break through to the big time

    Longan aren’t quite as glamorous as some fruits. They don’t have the star-power of mangos or generate the excitement of a pricey seasonal niche fruit like the pungent durian. Unlike bananas or oranges, which are known and loved everywhere, longan remains a decidedly

  • ASEAN Foreign Ministers’ meet commences, Taiwan issue possibly on table

    The 55th ASEAN Foreign Ministers’ Meeting (AMM) and related meetings hosted by Cambodia kicks off in Phnom Penh on August 3, with progress, challenges, and the way forward for the ASEAN Community-building on the table. Issues on Taiwan, sparked by the visit of US House Speaker

  • Bosba: The first Khmer woman composer from UK’s Cambridge

    Bosba Panh is just 25 years old, but she’s already accomplished some impressive milestones for herself and the Kingdom. On July 24, she graduated with a Master’s degree from the University of Cambridge as the first Khmer woman composer and Khmer music graduate ever at

  • Debt restructuring over, time to tackle rising NPL ratio

    The Cambodian banking system has just completed a 26-month debt restructuring exercise where scores of loan accounts were revised, classified and provisioned as the rate of non-performing loans inched up, sparking a slight credit risk unease Implemented in April 2020, the Covid-19 debt restructuring measures came

  • Recap of this year’s ASEAN FM meet and look ahead

    This year’s edition of the ASEAN Foreign Ministers’ Meeting (AMM) hosted by Cambodia comes against the backdrop of heightened global tensions and increasing rivalry between major powers that have been compared to the animosity of the Cold War era. The following is The Post’