PHNOM PENH - China Duty Free Group (CDFG), a Chinese state-owned enterprise, has launched the soft opening of its third shop in Cambodia, the Phnom Penh Post reported Thursday.

CDFG, which has already operated duty-free stores in northwestern Siem Reap province and southwestern Preah Sihanouk province, has leased nearly the entire 4,000 square meters of the NagaCity Walk, a 94-million-U.S.-dollars subterranean shopping center in Phnom Penh capital, for its third outlet.

John Zhao, CDFG general manager for Cambodia, said the luxury goods on display would cater to both Chinese and international tourists visiting Phnom Penh.

"The mall will attract international shoppers both from NagaWorld (casino and hotel) and the other five-star hotels in Phnom Penh, not just Chinese tourists," he was quoted as saying by the newspaper. "And it is located in the city's central business district, which has huge growth potential."

"This is the right time for us to open," he said, adding that to keep up with Cambodia's economic growth, the country needs to bring in the biggest brands.

Zhao said he expects work on the mall to be completed by the end of the year and a grand opening to be held in early 2017 at the latest.

The shopping experience would raise Cambodia to international standards with a cheaper price tag, he added.

The completed mall would eventually be divided into two areas, one will be dedicated to duty-free products, while the other will sell goods produced in Cambodia, according to the newspaper.