The ASEAN-International Wholesale Market, locally known as the New Deum Kor Market, was officially inaugurated last week in a ceremony including Khuong Sreng, Governor of Phnom Penh, Wang Wentian, Chinese Ambassador to Cambodia, and other representatives and stakeholders of the project.

The new wholesale market, built on a 30-hectare site located on Win-Win Boulevard in Phnom Penh’s Prek Pnov district, is now the largest wholesale market in Cambodia.

The new market will focus on high-quality and hygienic agricultural products, able to handle a capacity of up to 60,000 tonnes of local produce sourced from across Cambodia, along with imports from trading partner countries such as China, Vietnam and Thailand.

The project first commenced construction in 2022, led by China’s Guangxi Business Development Association (GBDA).

The market’s first phase is made up of over 6,000 individual stalls, which have now been leased to individual vendors.

Leading up to the market launch, GBDA transferred the initial 6000 market stalls to business owners under a five-year contract, with the initial two years being free of charge.

Speaking at the April 27 inauguration, Xie Luping, Chairman of the Board of Directors of ASEAN-International Wholesale Market, said that the project seeks to create mutual benefits for both importers and exporters.

He said the market will “strengthen the win-win cooperation between the people of Cambodia and China and the people of ASEAN as well, in line with the Belt and Road Initiative (BRI).”

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Reporter: James Whitehead

Publication date: May 2, 2024

Source: Khmer Times