“Cambodia’s retail outlook is looking stronger than ever going into 2023 with regional new players looking to expand into Indochina with Cambodia being one of the most attractive markets,” said Edward Lee, Chief Executive Officer (CEO) of Prince Real Estate Group (Prince Real Estate) during its business matching event with the Malaysia Retail Chain Association (MRCA).
Prince Real Estate hosted MRCA’s trade mission delegations of 60 Malaysian entrepreneurs from over 40 companies led by Dato Vincent Choo, the organizing chairman of the trade mission and vice president of MRCA, at the Raffles Hotel Le Royal.
During the event, the Group entered a tripartite Memorandum of Understanding (MoU) with MRCA and the Malaysian Chamber of Cambodia, witnessed by His Excellency Cheuy Vichet, Ambassador of Cambodia to Malaysia. The MoU promotes investment into the Kingdom, specifically the retail industry, by facilitating Malaysian companies interested in expanding into Cambodia through knowledge sharing and providing data-driven insights.
The business matching event is part of Prince Real Estate’s efforts to strengthen its expansion strategies via inward investments in line with the Group’s vision to transform the retail industry in Cambodia by bringing in more regional brands to complement the local players.
“Cambodia has been an investment-friendly country with three main pull factors: the Cambodian law permits 100% foreign ownership of a business, there is no capital control, and the Kingdom is a dollarized economy,” said Edward.
Prince Real Estate reboots progressive expansion, seeing a return to normality post opening of Cambodia’s economy early this year. The Group launched its first open-concept-inspired street mall, the Prince Times Square, in June this year. Prince Real Estate is also launching its flagship project – the Prince International Plaza, end of Q4 2022.
Last week, Prince Real Estate clinched two top developer awards of the year as the Best Developer and Best Mixed Use Developer at the 7th PropertyGuru Cambodia Property Awards 2022 at a gala event in Sofitel Hotel, Phnom Penh, Cambodia.
Culture week introduces Vietnam’s land and people to Myanmar
NDO – Vietnam Culture Week in Myanmar took place from September 27 to 30 in Yangon city, Myanmar, aiming to promote the image of the country and people of Vietnam, and promote cultural and tourism cooperation and enhance people-to-people exchanges between the two countries.
Vietnam, Cambodia hold joint rescue drill
Hundreds of soldiers from the Royal Cambodian Army and the Vietnam People’s Army on December 18 took part in a joint rescue drill in Chantrea district in the Cambodian province of Svay Rieng.
Supporting farmers to reduce poverty
Thanks to the loans from the Farmers’ Support Fund of Nam Nhun district, Lai Chau province, many families have built up effective production and business models, helping eliminating poverty and improving their living conditions.
Vietnam invests 3.97 million USD abroad in January
The latest updates from the Foreign Investment Agency revealed that Vietnam invested 3.97 million USD abroad in January, more than three times higher than the same month last year.
Korean Day opens in Quang Nam province
NDO – The Korean Day programme kicked off in the central coastal province of Quang Nam on December 15.
