Each country develops at its own pace, and this pace is often reflected in the amount of foreign investment and subsequent social benefits gained.
Siam Makro has operated large malls in Thailand, and the country is now seeking to expand into Cambodia. Makro Cambodia, the local arm of the international cash-and-carry wholesaler, will be located in Pong Peay City in Phnom Penh’s Thmey commune and plans to open on December 17.
Makro has committed to collaborating with local famers and suppliers to develop high-quality, clean and safe products for its customers.
Ho Vesna, Sen Sok’s deputy district governor, told The Post that the market launch on Sunday will be a big event for the neighbourhood.
“While developing, this market shows potential to develop the country,” he said.
“Besides the large number of Borey constructions, Sen Sok is a potential destination for big brands from abroad.”
Pov Nary, a resident of Sen Sok district, said people need to have a market where they live and was happy about the incoming store.
“I am happy that the foreign markets are expanding into Cambodia, and it will offer job opportunities and allow local residents to buy and sell things,” she said.
CEO of Key Real Estate SornSeap told The Post that other areas of the city were developing quickly because of the construction of large malls and Boreys.
“When there are big markets investing, real estate prices, especially for land and buildings, will increase,” he said.
According to the Ministry of Commerce, Siam Makro has invested $2 million, representing 70 percent of the costs of the project, and Okhna Ly Yong Phat covered the remaining 30%.
“When there are big markets investing there, real estate prices, especially land and buildings, are increasing in suburban areas,” he said.