Cambodia, Vietnam Construct First Model Border Market

The construction of the first ever model market at the border between Cambodia's Thbong Khmum province and Vietnam's Tai Ninh province began this morning.

The groundbreaking ceremony took place in Da commune, Memut district of Thbong Khmum province under the presidency of H.E. Pan Sorasak, Cambodian Minister of Commerce, and H.E. Vu Quang Minh, newly appointed Vietnamese Ambassador to Cambodia.

The market, named Da, will contribute to increasing trade activities at the border and enhancing local people's livelihoods as well as to solving challenges and trade barriers, said H.E. Pan Sorasak.

For his part, H.E. Vu Quang Minh said that Da Market will bring new hope and opportunity for the Cambodian and Vietnamese people and will become a model of development and trade and economic cooperation expansion at the common border of the two countries.

Built on an area of 19,628 square meters with an estimated cost of some US$2 million, this market development project was first approved in 2013 and reconfirmed in 2016 by the Royal Government of Cambodia and the Government of Vietnam.

In last five years, Cambodia attracted foreign direct investment worth between US$1.7 billion and US$2 billion annually.

During the first 11 months of last year, Cambodia-Vietnam two-way trade reached US$3,438 million, a year-on-year increase by 31.5 percent.

Source: Agency Kampuchea Press