The first "Cambodian border market model " will be built in the fourth quarter of this year, with the Vietnamese government's non-refundable financial aid of VND44 billion (US$2 million). — Photo vov.vn
HÀ NỘI — The first “Cambodian model border market” will be built in the fourth quarter of this year, with the Vietnamese government’s non-refundable financial aid of VNĐ44 billion (US$2 million).
The project, an investment of the Vietnamese industry and trade ministry, will cover nearly 20,000sq.m in the Thary Tboung Khmum Special Economic Zone in Memot District in Tboung Khmum Province in Cambodia’s central lowlands.
It will be located opposite Chàng Riệc border gate in the southern Tây Ninh Province’s Tân Biên District.
The market, scheduled to become operational in 2018, will include a one-storey trading area, a two-storey market management office and supporting facilities such as goods storage, parking lot, restrooms and water and electricity supply stations.
It is expected to promote the strengths and potential of the two bordering provinces and create favourable conditions for them to expand trade, build distribution and import-export systems, and improve the living standards of the local people in the shared border areas.
Việt Nam and Cambodia signed a memorandum of understanding on the project yesterday in Phnom Penh, Cambodia.
Việt Nam’s Deputy Minister of Industry and Trade Nguyễn Cẩm Tú and Cambodia’s Secretary of State of the Ministry of Commerce Mao Thora signed the document, which is part of the agreement reached at the 13th session of the Việt Nam-Cambodia Joint Committee on Economic, Cultural and Scientific and Technological Co-operation on February 11, 2014.
The value of trade between Cambodia and Việt Nam increased 2.4 per cent from $3.3 billion in 2014 to touch $3.4 billion in 2015. In 2015, Cambodia’s imports from Việt Nam reached $2.4 billion and Cambodia exported goods worth $953 million to Việt Nam. — VNS