The increasing purchasing power of Cambodians is prompting foreign department stores, including Thailand’s Siam Makro Plc, to open more shopping malls in the country, the Thai embassy in Phnom Penh reported.
The foreign trade promotion office at the Thai embassy in Phnom Penh reported that Siam Makro would open two more Makro shopping malls in Cambodia, adding to the two Makro stores already in operation.
Currently, Siam Makro owns one shopping mall in Phnom Penh and another in Krong Siem Reap, the trade office added.
The office said Cambodia’s economy is expanding fast, as a result the lifestyle of Cambodians is undergoing a rapid change due to higher purchasing power. The office said as part of the changing lifestyle, more Cambodians were shopping in hypermarkets and modern shopping malls.
Currently, there are several foreign-owned shopping malls in Phnom Penh, including Aeon Mall 1, Aeon Mall 2, Exchange Square, TK Avenue, Global House and SCG Home Village, the trade office said.
The office said there are also several foreign-owned shopping malls in Sihanoukville, including Prince Mall, Furi Time Square, and Aeon Mall 3.
Suchada Ithijarukul, the CEO of Makro Group, confirmed the plan to build two more stores in Cambodia. The two stores will be among five foreign stores to be opened by Makro this year, she added.
Siam Makro to open two more stores in Cambodia to meet rising demandShe said Makro would spend THB11 billion to expand 30 branches this year, including the five foreign stores. After the expansions, Makro will have 184 branches — 172 in Thailand, four in Cambodia, one in Myanmar, six in India and one in China. Nation Thailand/Royal Thai Embassy in Cambodia
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