In the morning of July 19, 2013, the signing ceremony of CDFG’s Cambodia Project was held in Beijing. Mr. Peng Hui, President and General Manger of China Duty Free Group Co., Ltd. (CDFG), Mr. Chen Jianshan, Secretary of the Party Committee and Deputy General Manager of CDFG, and Mr. Zhang Shaowen, General Manager of Beijing Huachao Asset Management attended the ceremony and signed the contract for CDFG’s Cambodia Project.
After signing the cooperation contract, the two companies will jointly invest $2 million to register China Duty Free Group (Cambodia) Co., Ltd., with the aim of establishing and operating duty free shops in the country.
The establishment of China Duty Free Group (Cambodia) Co., Ltd. was a big step for CDFG’s internationalization strategy. The Cambodia project will not only expand CDFG’s overseas markets and increase awareness and influence in Southeast Asia, it will also help CDFG to gain overseas management and operation experience in city center duty free stores and other travel retail businesses, and to improve its purchasing and retailing capabilities.
