Room to develop Viet Nam-Cambodia ties

Friday, Sep 23, 2016 14:00

The business conference witnessed that participation of over 200 businesses from the two nations. — Photo
  (Biz Hub) There is untapped potential for Viet Nam and Cambodia to foster bilateral cooperation in economy, trade, investment and tourism.

This message was delivered by Vietnamese Ambassador to Cambodia Thach Du during a business conference held on Thursday in Cambodia.

The ambassador said bilateral ties have experienced encouraging results over the past years.

Viet Nam is considered one of Cambodia's leading economic partners with two-way trade reaching US$3.4 billion in 2015. Trade is expected to reach $5 billion in 2017.In term of investment, Viet Nam has, till date, invested $2.85 billion in 182 projects in Cambodia. Viet Nam also recorded the largest number of travellers to this neighboring country with some 990,000 recorded in 2015, Du said.

In his speech at the event, Chea Vuthy, vice secretary general of the Council for Development of Cambodia, gave a brief overview of the country's investment climate and policies. He also spoke highly on the effective contribution of Vietnamese businesses to his country's socio-economic development and to the economic co-operation between the two countries.

Currently, Viet Nam is one of Cambodia's five leading sources of foreign investment besides China, Japan, South Korea and Malaysia, with the most noteworthy projects focusing on agriculture and industry, valued at $958 million.

He said Cambodia is willing to create the most favorable conditions for foreign investors including those from Viet Nam. The influx of Vietnamese investment to Cambodia would increase significantly in the near future, he added. —VNS

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