First Vietnam supermarket to open in Cambodia
Last updated: 11/27/2010 16:30
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Vietnam's first supermarket in Cambodia is being completed to open next month |
The first Vietnamese supermarket in Cambodia will open in Phnom Penh next month, selling everything from high-end to common products.
The three-story Vietnam Supermarket covering 7,550 square meters is expected to start receiving customers on December 29.
Z38, a member of Vietnam Business Association in Cambodia, has invested more than US$3 million in the supermarket.
Seng Meng, president of the supermarket and vice chairman of the association, said they will sell high-quality Vietnamese products at the supermarket which will serve both middle-income and high-earning consumers in Cambodia.
High-end product sections will be arranged similar to shopping malls in Ho Chi Minh City, Meng said.
He said four similar supermarkets will be opened in other big cities of Cambodia in 2012 if the first one proves successful.
The only other foreign country to open supermarkets in Cambodia is Thailand.
Vu Thinh Cuong, commercial counselor at the Vietnamese embassy in Cambodia said the Vietnamese supermarket will be a chance to promote high-quality Vietnamese products and for Vietnamese businesses to expand their market.
“This is a foundation for Vietnamese enterprises to find more partners, retailers and distributors in Cambodia,” Cuong was cited by local news website VnExpress as saying Saturday.
Cuong said commodity production has not developed in Cambodia and the residents are fond of Vietnamese products. Essential items from Vietnam including foodstuff, soaps and plastic furniture have been sold in Cambodia for several dozen years.
According to statistics compiled by the Vietnamese Embassy in Cambodia, more than 600 Vietnamese enterprises are selling food, garment, agricultural products and providing traffic, telecommunications and finance services in Cambodia.
Bilateral trade turnover between Cambodia in Vietnam during the first nine months this year was around US$1.29 billion, up 36.2 percent year-on-year.
Over the same period, Vietnam’s export turnover to Cambodia increased 34.4 percent to nearly $1.1 billion.
Source: Thanh Nien
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