Realco Cambodia Ltd., a U.S.-owned company, plans to invest $7 million to build a market at the Phnom Din checkpoint on the border with Vietnam in Takeo province’s Kirivong district, a senior official at the Takeo, Kampot and Kep Provincial Chamber of Commerce said Friday.
Realco Cambodia reached an agreement with the chamber on Thursday to develop the market on a 7-hectare site that will house trading and storage facilities for Cambodian and Vietnamese vendors, chamber president Sok Sovann said.
Construction is expected to begin in five or six months, but no details were available on an opening date.
“Cambodian and Vietnamese traders have been loading and unloading goods in the street before [transporting] them to other Cambodian markets, like [Phnom Penh’s] Deum Kor market. It doesn’t look good.
“The market is being built to solve this problem, to facilitate trade between the two countries,” Mr. Sovann said.
Kirivong district governor Kao Vakdel said he was unaware of Realco Cambodia’s plans for his area, however, he had heard that the chamber of commerce was cooperating with a U.S. company.
“I just know that the provincial chamber of commerce has collaborated with an American firm, but I don’t know about the market construction project. They have not talked to me about this yet,” Kirivong district governor Kao Vakdel said.
According to Mr. Sovann, aside from facilitating the flow of goods, “The market will also function as a venue to promote trade between the two countries in the border area, through organizing trade exhibitions, as well as a warehousing [site] to store goods brought here for import and export.”
Goods traded by Cambodian and Vietnamese vendors in the Takeo border region include fruit, vegetables and other foods, as well as construction materials and machinery, Mr. Sovann said.
The Ministry of Commerce’s website lists U.S. citizen Shawn Ander Scott as Realco Cambodia’s director and chairman.
Realco Cambodia could not be reached for comment.