Construction of a model market on the Cambodia-Vietnam border will start in January next year, a senior Vietnamese official announced on Friday.
During a meeting with his Cambodian counterparts in Phnom Penh, Tran Duy Dong, the director general of the domestic market department at the Vietnamese Ministry of Industry and Trade, said they’ve just hired a new contractor to take on the project and the groundbreaking ceremony will take place in January, with construction lasting only 12 months.
“We have just chosen a new contractor: 72 Investment Construction Join Stock Company,” Mr Tran said. “We can guarantee that there won’t be any more delays and that the project will be completed by the end of 2018.”
Construction was originally scheduled to start this year, but was delayed due to problems with the previous contractor.
The market will be located in the Thary Tboung Khmum Special Economic Zone, about one kilometre from the nearest Cambodia-Vietnam border crossing in Tboung Khmum province’s Da commune.
The project, which will occupy two hectares of land, is estimated to cost just over $2 million, which the Vietnamese government has provided in the form of a grant.
The model market will help facilitate land trade between Cambodian and Vietnam. It will also play a role in reducing poverty on both sides of the border and help traders build bigger networks, according to officials from both countries.
Le Van Thien, the Director General of 72 Investment Construction Joint Stock Company, the firm hired as the contractor, said the deal with the Vietnamese government was signed only last month.
They’ve agreed to finish the project in only 12 months, which he admits is a very tight deadline.
“We will send employees and construction material and equipment to Cambodia next month,” Mr Le said, urging the provincial authorities to cooperate with them to facilitate construction.