VN helps Cambodia build model market

VGP – Deputy Minister of Industry and Trade Nguyen Cam Tu and Cambodia’s Secretary of State of the Ministry of Commerce Mao Thora signed in Phnom Penh, on July 27 a Memorandum of Understanding on building a model border market in Cambodia.

July 28, 2016 3:17 PM GMT+7

The project is carried out under the agreement reached at the 13th session of the Viet Nam-Cambodia Joint Committee on Economic, Cultural and Scientific and Technological Cooperation in February 2014.

It aims to create favourable conditions and promote the potential and advantages of the two border provinces of Tay Ninh and Khmum Tbaung to expand trade; build distribution and import-export systems to make contribution to restructuring the respective economy as well as improving the living standards for local people.

The project, hosted by the Vietnamese Ministry of Industry and Trade, is expected to start in the fourth quarter of 2016 and be put into operation in 2018.

It is funded by the Vietnamese Government through a non-refundable aid worth VND 44 billion (US$1.98 million).

The first model market of its kind will sit on an area of nearly 20,000 square meters at the Thary Tbaung Khmum Special Economic Zone in Cambodia.

By Viet Cuong